Answer:
lower than; marginal utility
Explanation:
lower than; marginal utility
It follows that people will buy more of good X and that the marginal utility of the last additional unit they buy will be Lower than the Marginal Utility of the 10,000th unit.
Janice is your director of sales. Since her team members are located in Europe, Asia, and North America, she has decided to use instant messaging to tie her team members together in order to develop a marketing strategy for a new product line. This is an example of a ________ team.
Answer:
4. Virtual
Explanation:
Virtual team is made up of a group of people who are physically far from each other that uses computer technology in this case instant messaging to attain a common goal, in this case, marketing strategy for a new product line. They are called "virtual" because the are physically far away from each other and need the help of communication technology to communicate.
They are made up of individuals who work together in achieving a common goal from different geographical locations through the help of communication technology.
Answer: virtual
Explanation: A virtual team is formed when an organization of people communicates and works together from their various geographic regions making use of information and software technology to accomplish their purposes and motives. However, it has some benefits like a boost in productivity, more skilled people are hired as there are several distinct geographic areas to work with.
Despite different demographics, consumers may hold similar self-values and might perceive themselves to belong to a distinct group of people. To identify this segment, the marketing manager might use ______ segmentation.
Answer:
Psychographic segmentation
Explanation:
Psychographic segmentation refers to dividing customers into different target groups based on their personalities, values, beliefs, attitudes, lifestyles, etc. This type of segmentation is fairly difficult to carry out because may times psychographic characteristics are not observable. E.g. you do not walk around with a label saying I'm a joyful person, who loves animals and enjoys outdoor activities.
Psychographic segmentation is probably the most effective type of marketing segmentation but it is also the most difficult to carry out properly.
Economists were sharply divided over how to best fight the Great Recession. A vocal minority of economists favored the "Structural Solution," arguing that the economy needs to undergo some structural adjustments and that government should, therefore, A. rely on the invisible hand of the market to relocate resources, by letting weak firms die out quickly B. take serious actions to increase the total demand output for the country
Answer: A - Rely on the invisible hand of the market to relocate resources, by letting weak firms die out quickly.
Explanation:
The economists strongly believed that the smaller businesses should go out of business. By going out of business this would make them bankrupt. By going bankrupt, this would make the economy correct the resource misallocations.
The advocates for this solution also wanted the taxes to be cut. They wanted across the board tax cuts. They believed that this would get the demand for the goods and other services in high demand with the public.
Immigrant couples often abandon Breadwinner/Supportive Spouse strategies in favor of economic interdependence when they arrive in the United States. What is one reason why couples do so?
Answer:
they are adjusting to a new economic class
Explanation:
Economic interdependence refers to being dependent on your significant other to pull both of your economic resources together. Based on the information provided within the question it can be said that one of the main reasons for this is that they are adjusting to a new economic class . Moving to a new country requires sacrificing a lot and can be hard to find economic stability for a long time. Therefore couple both work and depend on each other economically.
Intrinsic motivation contributes to the ________ of work; Incentives contribute to the ________ of work.a. quality; outcomeb. quantity; quantityc. quantity; qualityd. quality; qualitye. quality; quantity
Answer:
quality:quantity
Explanation:
Intrinsic motivation contributes to the quality of work; incentives contribute to the quantity of work.
This is straight from one of the theories of reward management. These theories agree on a few broad strokes but fundamentally disagree on the overidiing motivation of human workers. Some giants in this field include Maslow, Vroom, Taylor, etc.
Intrinsic motivation contributes to the 'quality' of work due to its origin from personal satisfaction or interest, leading to improved attention and effort. Conversely, incentives, being external rewards, contribute to the 'outcome' of work, directing what the individual accomplishes.
Explanation:The answer to your question is 'a. quality; outcome'. Intrinsic motivation refers to motivations that come from within an individual rather than from any external or outside rewards. This type of motivation refers to motivation driven by personal satisfaction or interest in the task itself, and exists within the individual rather than relying on any external pressure or reward. It can contribute to the quality of work because when a person is motivated from within, they are likely to put in more effort and attention to detail, thereby improving the quality of the work.
On the other hand, incentives refer to external rewards or goals that motivate a person to perform a task. These can include monetary rewards, grades, or recognition. Incentives drive the outcome of work, as they often determine what the individual achieves as a result of their work, whether that's a good grade, a bonus, or other type of reward.
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Balsam City's library board is appointed by the city council, which has agreed to subsidize the operating costs of the library at a material amount to be determined each year. In addition, the city is paying debt service on general obligation bonds issued to construct the library. Based on generally accepted accounting principles (GAAP) criteria for defining the reporting entity:_______.A. The library is a component unit.B. The library is a special purpose government.C. The library is a joint venture.D. The library is a jointly governed organization.
Answer:.A. The library is a component unit.
Explanation: Library is a place where books are collected and kept for the use of students and other interested persons,this books collection can be in soft copies and hard copies.
Most modern libraries have internet facilities which helps the users to gain a better access to a wide range of books.
According to the GAAP(GENERALLY ACCEPTED ACCOUNTING PRINCIPLES) THE BALSAM CITY'S LIBRARY REPORT IS A COMPONENT UNIT
Final answer:
The library in Balsam City is classified as a component unit according to GAAP criteria for defining the reporting entity.
Explanation:
Based on the information provided, the library in Balsam City would be classified as a component unit according to generally accepted accounting principles (GAAP) criteria for defining the reporting entity. A component unit is a legally separate organization, but it is important to the primary government and is controlled by the primary government through a financial benefit or burden agreement. In this case, the library board is appointed by the city council, and the city council has agreed to subsidize the operating costs of the library and pay the debt service on the bonds issued to construct the library. This financial arrangement indicates a strong financial benefit and control by the city council, making the library a component unit.
A consumer searching for information will create a list of brands or products that he or she will evaluate as options for the solution of a particular problem. This list is referred to as:___________.
Answer:
The correct answer is Evoked set.
Explanation:
The set evoked is the set of brands among which a consumer makes their purchases within a category. The consumer has a brand in the Top of Mind and the others he knows but currently does not buy (share of mind) and this group of brands are part of his evoked set.
Its importance is that the consumer tends to prefer the brands that he already knows to the new brands, and being part of this set of brands is important because the known brands acquire Relevance and with the right motivation can end up in a purchase.
Which answer best fills in the blank in this sentence?
Using the factors of production to produce one item means there are ________ resources to use in the production of another.
the same
less
no
more
Answer:
Less
Explanation:
The answer is Less.
Danny "Dimes" Donahue is a neighborhood’s 9-year-old entrepreneur. His most recent venture is selling homemade brownies that he bakes himself. At a price of $2.75 each, he sells 250. At a price of $2.25 each, he sells 300. A. What is the elasticity of demand?
B. Is demand elastic or inelastic over this price range?
C. If demand had the same elasticity for a price decline from $2.25 to $1.75 as it does for the decline from $2.75 to $2.25, would cutting the price from $2.25 to $1.75 increase or decrease Danny's total revenue?
Final answer:
The elasticity of demand can be calculated using the formula (% change in quantity demanded) / (% change in price). In this case, the elasticity of demand is 1.1, indicating elastic demand over the price range. Cutting the price from $2.25 to $1.75 would increase Danny’s total revenue.
Explanation:
To determine the elasticity of demand, we can use the formula:
Elasticity of Demand = (% change in quantity demanded) / (% change in price)
A. For the price change from $2.75 to $2.25:
Quantity demanded change = 300 - 250 = 50
Price change = $2.75 - $2.25 = $0.50
% change in quantity demanded = (50 / 250) * 100 = 20%
% change in price = ($0.50 / $2.75) * 100 = 18.18%
Elasticity of Demand = 20% / 18.18% = 1.1
B. Since the elasticity of demand is greater than 1, demand is elastic over this price range.
C. If the elasticity of demand for the price decline from $2.25 to $1.75 is the same, the percentage changes in quantity demanded and price would be the same. Therefore, cutting the price from $2.25 to $1.75 would increase Danny's total revenue.
Suppose that in a market for used cars, there are good used cars and bad used cars (lemons). Consumers are willing to pay as much as $6,000 for a good used car but only $1,000 for a lemon. Sellers of good used cars value their cars at $5,000 each and sellers of lemons value their cars at $800 each. Buyers cannot tell if a used car is reliable or is a lemon. Based on this information, what is the likely outcome in the market for used cars
Answer:
Based on the given information, the mostly likely outcome in the market for used cars is, sellers of good used cars will drop out of the market.
Explanation:
From the above mentioned scenario, we can figure out that in the marker of used cars, good used cars have a higher pay and value as compared to the bad used cars. But when it comes to buyers, they cannot really make a differentiation between whether the used cars are well grounded or lemon. So in that case, there is a likelihood of dropping good used cars out of market. This is mainly because when buyers cannot judge the reliability of an item, chances are that the item will drop out.
Final answer:
In a used car market with information asymmetry, buyers cannot differentiate between good cars and lemons, leading to a market failure known as the lemons problem, which drives high-quality cars out of the market and leaves only lemons.
Explanation:
The likely outcome in the market for used cars, when buyers cannot distinguish between high-quality cars and lemons (low-quality cars), is an example of a market failure due to information asymmetry. Because buyers are unsure of the car's quality, they are only willing to pay an average price that reflects the risk of getting a lemon. In this scenario, the average price buyers would be willing to pay may be closer to $3,500, which is the midpoint between the value of a good car ($6,000) and a lemon ($1,000).
However, this price is less than what sellers of good cars would accept ($5,000), leading to a market where mostly lemons are sold. This phenomenon is known as the lemons problem or adverse selection, and can result in high-quality cars being driven out of the market, leaving only the lemons available for trade.
Public companies under the jurisdiction of the Securities and Exchange Commission are required by law to hire a certified public accounting firm (independent auditor) to assess whether their published financial statements are in compliance with Generally Accepted Accounting Principles (GAAP). This statement is:______. A. True B. False
Answer:
A. True
Explanation:
At the time of publishing the financial statements of the public companies under the jurisdiction of the Securities and Exchange Commission (SEC) is compulsory to hire the independent auditor or we can say Chartered Accountant (CA) so that he or she can assess the financial statement prepared by the public company whether it follows the Generally Accepted Accounting Principles (GAAP) or not.
And, according to that the independent auditor given his or her qualified or unqualified opinion
According to Say's law, in a money economy a reduction in consumption spending causes a __________ shift of the saving curve and therefore a __________ in the interest rate.
Answer:
According to Say's law, in a money economy a reduction in consumption spending causes a Rightward shift of the saving curve and therefore a Decline in the interest rate.
Explanation:
The reason is that the supply of money in the market will grow because people will be saving more and start investing them. This results a rightwards shift of saving curve which is moving away from pivot point (0,0). This excess supply of money will lower the interest rate because greater the supply of the money the lower the interest rate.
A reduction in consumption spending leads to a rightward shift of the saving curve, causing the interest rate to decrease. This is based on the economics principle that increased savings push down equilibrium interest rates, stimulating investment.
Explanation:According to Say's Law, in a money economy, a reduction in consumption spending causes a rightward shift of the saving curve and therefore a decrease in the interest rate. This phenomenon is based on the premise that when people save more, there is an increased supply of loanable funds in the economy. This increased supply of loanable funds causes the equilibrium interest rate to fall, making borrowing cheaper and potentially encouraging investment by businesses. The behavior of saving and interest rates is crucial in understanding the dynamics of economic activities, such as investment and consumption. The adjustment in interest rates is a mechanism that markets use to reach a new equilibrium, balancing the levels of saving with investment demands.
Say's Law in Economics: According to Say's Law, a reduction in consumption spending in a money economy causes a rightward shift of the saving curve and therefore a decrease in the interest rate. This implies that an increase in saving at each interest rate results in a downward movement along the demand-for-capital curve, leading to a lower equilibrium interest rate.
If advertising makes consumers more loyal to particular brands, it could ________ the elasticity of demand and ________ the markup of price over marginal cost.
Answer:
The correct answer is Decrease; increase.
Explanation:
One of the issues that brands want to create in their relationship with their consumers is loyalty, loyalty. In a market where products are increasingly more and more varied and in which consumers have more and more offers and can choose between more and more brands, companies aspire to their products and the relationships established between them and their consumers go beyond having a product to fulfill a service. Brands expect and need consumers to bond with them in an emotional way, feel for their products much stronger and much stronger relationships and, therefore, be able to establish a deeper anchor with the brand. What the brands are looking for is, therefore, that the consumer practically does not have to think when choosing a product, that he does not need to consider whether that or the other: he has to stay directly with that of the brand in question because it is the of that brand.
An employee wore disposable gloves to form raw ground beef into patties. When she finished, she kept the gloves on while she sliced hamburger buns. Did she follow good food safety practice?
Explanation:
Yes , it´s not like she went on a bathroom break she still doing something in the kitchen.
Stephanie is a 40% partner in the SKY Partnership. During the current tax year, the partnership reported ordinary income of $210,000 before payment of guaranteed payments and distributions to partners. The partnership made an ordinary cash distribution of $30,000 to Stephanie and paid guaranteed payments to partners Stephanie, Kirsten, and Yule of $30,000 each ($90,000 total). What is Stephanie's share of the partnership's income?A. $88,000
B. $48,000
C. $78,000
D. $66,000
Answer:
Option "C" is the correct answer to the following statement.
Explanation:
Given:
Total Income before Partners Distribution = $210,000
Total Distribution = %90,000
Addition cash to Stephanie = 30,000
Computation of Stephanie's Income:
Amount after distribution = ($210,000 - $90,000)
= $120,000
Stephanie's Share = $120,000 x 40%
= $48,000
Stephanie's Total income = Stephanie's Share in distribution + guaranteed payment
= $48,000 + $30,000
= $78,000
Identify each action listed here as a federal, state, or shared power.
Federal
Shared
State
Appropriate funds for social programs
Construct a new highway
Redesign and print the hundred-dollar bill
Determine the requirements to receive a driver's license
Raise taxes
Negotiate a trade agreement with the European Union
Answer:
Appropriate funds for social programs SHARED POWER ⇒ THERE ARE BOTH FEDERAL AND STATE SOCIAL PROGRAMS, AND EACH ONE GATHERS FUNDS FOR THEM
Construct a new highway SHARED POWER ⇒ BOTH STATES AND THE FEDERAL GOVERNMENT CAN BUILD HIGHWAYS
Redesign and print the hundred-dollar bill FEDERAL POWER ⇒ ONLY THE FEDERAL GOVERNMENT CAN PRINT MONEY
Determine the requirements to receive a driver's license STATE POWER ⇒ STATE GOVERNMENTS DETERMINE THE REQUIREMENTS FOR ISSUING DRIVING LICENCES, E.G. AGE
Raise taxes SHARED POWERS ⇒THERE ARE FEDERAL, STATE AND MUNICIPAL TAXES, AND EVERY GOVERNMENT LEVEL DETERMINES THEIR OWN TAX RATES.
Negotiate a trade agreement with the European Union FEDERAL POWERS ⇒ THE COMMERCE CLAUSE ESTABLISHES THAT ONLY CONGRESS CAN REGULATE INTERSTATE COMMERCE. THE EXECUTIVE BRANCH MAY NEGOTIATE A DEAL BUT CONGRESS MUST APPROVE IT.
Explanation:
What is an information system for identifying and planning the enterprise-wide resources needed to take, make, ship, and account for customer orders?
Answer:
Enterprise resource planning (ERP) software
Explanation:
Based on the information provided within the question it can be said that the type of information system that is being mentioned is called an Enterprise resource planning (ERP) system. This is a management software that allows an individual or organization to use the built in applications to manage the different organizational functions that relate to technology, services and human resources. Such as taking, making, shipping, and accounting for customer orders
Answer:
Enterprise resource planning (ERP)
Explanation:
APICS defines enterprise resource planning as “an accounting-oriented information system for identifying and planning the enterprise-wide resources needed to take, make, ship, and account for customer orders”, and “a method for the effective planning and controlling of all the resources needed to take, make, ship and account for customer orders in a manufacturing, distribution or service company”.
Donald buys a subscription to a national magazine that gives him two years for the price of one year. After the two years expire, Donald continues to receive the magazine for six more months, although he has not subscribed again. The magazine then sends Donald a bill for the magazines he received after the expiration of his subscription. Donald:__________.a. owes nothing.b. can be fined for failing to return the magazines.c. owes half of the bill.d. owes the full amount.
Answer: Owes nothing.
Explanation:
Donald owes the national magazine company nothing, this is because the company sent magazines to Donald even after his subscription to receive magazines had expired and he was yet to renew. Therefore, even if the magazine company charges Donald for the magazines he received for the extra six months, he is not mandated to pay because he didn't demand for them.
A registered representative at another member firm has a client who wishes to buy a Direct Participation Program (DPP) unit, a product that is not offered through his firm. He has a friend that is a registered representative at another member firm where DPPs are sold, and offers to refer the prospective client in exchange for a small fee. Which statement is TRUE?
A. This is permitted since the referral payment is small
B. This is permitted because the recipient of the referral fee is a registered individual
C. This is permitted as long as the client is informed that a referral fee has been paid
D. This is prohibited
Answer:
D. This is prohibited
Explanation:
Note that, the term 'registered representative' applies to an individual who works for a brokerage company and who serves as representative for clients trading investment products such as stocks or bonds.
Thus, according to regulations such registered representative is prohibited to perform such exchange, and can only share commissions or pay referral fees to other registered persons at the same broker-dealer, since the friend works for different firms.
When a firm adapts a product or service to meet an individual customer's wants or needs, it is undertaking an extreme targeting strategy called ______.
Answer:
The correct answer is Micromarketing.
Explanation:
Micromarketing is the personalization of sales actions by a thorough knowledge of the interests and habits of the individual consumer.
This is how micromarketing is defined, a practice that tends to be generalized to reach a more specific type of audience. Under this strategy, the target audience is considered as a sum of microsegments, of unique, but large, market niches. With more precise promotions and actions. Other criteria could be specific interests, age, sex, common activities or geolocation.
Chuck Biggs has been hired to oversee all of the plans that the city of Denver has created to expand its train transportation system by adding six more lines to the metro area. Chuck will be responsible for planning the project, managing the processes, and finalizing each new line as it is completed. How would you categorize the majority of the decisions Chuck will have to make to complete his job?
Options:
Semistructured decisions
Structured decisions
Strategic decisions
Unstructured decisions
Definition
Answer:Semistructured decisions
Explanation: Semistructured decisions are decisions that have elements of both structured and unstructured decisions, they are decisions that have some agreement on the data on the process, and or evaluation or analysis technique to be used. Semistructured decisions are also noted by efforts to retain some degree of human judgment in the decision making process.
MOST DECISION SUPPORT SYSTEMS ARE CLASSED AS SEMISTRUCTURED DECISIONS.
Suppose that the following information is known about Asa: He earns $126,000 in annual income, has a net worth of $324,000, has a master's degree, and works as a civil engineer. A sociologist could use this information to classify Asa in terms of his ____. Group of answer choices
A sociologist could use this information to classify Asa in terms of his "socioeconomic status".
Explanation:
A person or group's standing in society, or class is a status of socioeconomic. It is often calculated as a hybrid of education, income, and employment. Socio-economic status assessments also show differences in access to resources, plus concerns of privilege, control and power.
Viewing such a medium as a form of new innovation, the five socio-economic characteristics of gender, age, income level, education level and Internet access were researched to see whether there is any association among these five variables and the readiness of the customer to embrace e-commerce.
2. A company's accounting records reveal that Supplies had a beginning balance of $1,000. During the accounting period, the company purchased $500 of supplies. A physical count at the end of the accounting period confirmed that $1,400 of supplies were used. What will be the balance of the supplies account on the adjusted trial balance
Answer:
$100
Explanation:
Of the beginning balance on the supplies account was $1,000 and purchase of supplies of $500, it would have given a balance of $1,500 in the supplies account during the day for the business. The amount that was used from supplies at end of day is $1,400.
So balance at end of day is 1,500- 1,400= $100.
Alternatively we can use the following formula
Closing balance= Opening balance+ Inflows - Outflows
Closing balance= 1,000+ 500 - 1,400
Closing balance= $100
The company's Supplies account had an initial balance of $1,000, with addition of $500 in purchases and $1,400 in usage. Thus, the adjusted trial balance for the Supplies account would be $100.
Explanation:The company started the accounting period with $1,000 in the Supplies account. It then purchased an additional $500 worth of supplies, increasing the account balance to $1,500. However, the company used $1,400 worth of supplies, reducing the account balance. Therefore, the balance on the adjusted trial balance for the supplies account would be $100 ($1,500-$1,400).
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Which of the following practices are not considered essential for a comprehensive JIT implementation: Uniform production (also known as heijunka) Quick set times, Large lot sizes, Short lead times. A. True B. False
Answer:
False ( "Large lot sizes" is not considered essential for JIT )
Explanation:
Just in time is an arrangement and alignment of raw material supply with the production process of the business. It minimizes the holding cost, lead time required for delivery of raw material, the setup times and sizes of orders.
The Large lot sizes is not a characteristics of JIT because it may requires the storage facility to place the large orders until used in production which might increase the holding cost.
So, Large Lot Sizes are not considered essential for a comprehensive JIT implementation.
________ are payments that a defendant must make to a winning plaintiff in a civil lawsuit to compensate the plaintiff for the injuries or costs that the defendant's actions have caused.
Answer:
Compensatory damages.
Explanation:
Compensatory damages are amounts of money that is awarded by a civil court to a plaintiff to compensate him for damages, injury or other incurred loss. Compensatory damages are usually awarded when there is injury as a result of negligence or unlawful conduct of the defendant.
The onus is on the plaintiff to prove that a loss occurred and that it can be attributed to actions of the defendant.
Compensatory damages are awarded based on estimate of injury to the plaintiff.
Punitive damages on the other hand is often above injury estimate and is used as a deterrent to reoccurrence.
Which of the following statements is FALSE? A. According to the constant dividend growth model, the value of the firm depends on the current dividend level, divided by the equity cost of capital plus the grow rate. B. A firm can only pay out its earnings to investors or reinvest their earnings. C. Successful young firms often have high initial earnings growth rates. D. Estimating dividends, especially for the distant future, is difficult.
A. According to the constant dividend growth model, the value of the firm depends on the current dividend level, divided by the equity cost of capital plus the grow rate.
This is the false statement.
Explanation:
The fair value of stock can be calculated using the dividend growth model. While calculating the value of the stock, the growth of the dividends should be considered either in a stable rate or at a different rate during the period at hand.
The dividend growth model is also known as a valuation model as it is used to achieve the value of the stock.
Equity cost is the cost that the firm owes to the equity investors to compensate the risk of their investment.
During the current year, Comma Co. had outstanding: 25,000 shares of common stock, 8,000 shares of $20 par, 10% cumulative preferred stock, and 3,000 bonds that are $1,000 par and 9% convertible. The bonds were originally issued at par, and each bond was convertible into 30 shares of common stock. During the year, net income was $200,000, no dividends were declared, and the tax rate was 30%. What amount was Comma's basic earnings per share for the current year
Answer:
The basic earnings per share for the present year is $7.36 per share
Explanation:
The basic earnings per share for the current year of Comma is computed as:
= (Net Income - preferred stock) / Outstanding shares
where
Net Income is $200,000
Preferred stock is computed as:
= Shares × 10% × Price × 10%
= 8,000 × 10% × $20
= 800 × $20
= $16,000
Outstanding shares - 25,000
Putting the values above:
= ($200,000 - $16,000) / 25,000
= $ 184,000 / 25,000 shares
= $7.36 per common share
Lipstik, Inc. makes cosmetics. Lipstik intentionally mislabels its packaged products to conceal a defect. Trusting and relying on the mislabeling, Mikayla buys a Lipstik product and suffers an injury. Lipstik is most likely liable for
Answer:
Fraud.
Explanation:
Fraud is defined as intentional misrepresentation aimed at gaining unlawful advantage or to deprive a victim of a legal right.
In civil law the victim can file for recovery of money, while in criminal law the fraud perpetrator may be committed to prison.
Lipstik intentionally mislabels its packaged products to conceal a defect, and gains unfair advantage by selling these defective goods to customers. Mikayla buys the lipstick based on the misrepresented information on the label and gets injured.
Which of the following examples is NOT a typical or appropriate situation to employ project management? a. conducting a routine, standard customer service operation b. improving an existing work process c. installing a new computer system d. developing a new product
Answer: conducting a routine, standard customer service operation.
Explanation:
A project manager is a kind of manager who ensures that a project he/she carries out with his/her team is executed effectively. The project supervisor is not needed for day to day business supervision as that is the duty of an operations manager. In most cases a project manager is employed specifically for the purpose of supervising the completion of a single project.
The following examples is NOT typical or appropriate situation to employ project management a. Conducting a routine, standard customer service operation is not typically appropriate for project management; it's better suited for ongoing operations.
a. conducting a routine, standard customer service operation
Project management is typically employed in situations that involve complex tasks with specific objectives, timelines, budgets, and resources. Let's analyze each of the options:
a. Conducting a routine, standard customer service operation: Routine customer service operations are typically ongoing and repetitive tasks that do not require the detailed planning, monitoring, and control associated with project management. These operations are part of daily business activities and can be managed through standard operating procedures.
b. Improving an existing work process: Process improvement projects are often suitable for project management. They involve defining objectives, making changes, and measuring outcomes. Project management helps ensure that the process improvement initiative is executed efficiently and effectively.
c. Installing a new computer system: Implementing a new computer system is a complex undertaking that often involves multiple tasks, stakeholders, and potential risks. Project management is commonly employed in such situations to coordinate the various aspects of the implementation, manage resources, and meet project goals.
d. Developing a new product: Developing a new product is a classic example of a project. It has defined objectives, timelines, budgets, and requires cross-functional collaboration. Project management is crucial to ensure the successful launch of the product.
In summary, option (a), conducting a routine, standard customer service operation, is not a typical or appropriate situation to employ project management. Project management is best suited for situations that involve unique, complex, or large-scale endeavors that require structured planning, execution, and control. Routine operations can be managed through other means, such as standard procedures and ongoing management processes.
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Today, Jennifer earns $55000 at her first job. Her mom used to make $15,000 at her first job in 1975. Jennifer is of the opinion that she makes more than her mom would have made if she started working today. Her mom thinks Jennifer would have earned less than she if Jennifer had started working in 1975. If the CPI today is 231 and the CPI in 1975 was 82, then
Answer:
Jennifer earned more than her mother
Explanation:
Consumer Price Index (CPI) measures changes in the weighted average prices of a basket of consumer goods and services. It is calculated by taking price changes for each item in the basket of goods and services and then calculating the average. CPI can be used to index the effect of inflation in the real value of wages, salaries, and pensions; to regulate prices; and to deflate monetary magnitudes.
Given:
Jennifer earns $55000 at her first job today.Jennifer mom used to make $15,000 at her first job in 1975.Today CPI is 231CPI in 1975 was 82($15000/82) × 231 = $42256
($55000/231) × 82 = $19524
Jennifer earned more than her mother
Answer: Jennifer made more than her mum
Explanation: The consumer price index (CPI) is a measure of the aggregate price level in an economy. The consumer price index is used as an instrument to measure inflation by estimating the average variation in prices of goods between two given periods.
Jennifer's first earning = $55000
Mom's first earning = $15000
CPI in 1975 = 82
CPI today = 231
($55000/231) × 82 = $19524
($15000/82) × 231 = $42256
Therefore Jennifer made more than her mum