Tax revenue = 4 * 22 = 88 cedis. To find the equilibrium price and quantity, we need to set the supply price equal to the demand price.
The demand price is not given in the problem, but we can assume that it is a linear function of quantity, such as p = a - b*q. To find the values of a and b, we need two points on the demand curve.
Let's assume that at a price of p = 10, the quantity demanded is q = 20, and at a price of p = 20, the quantity demanded is q = 5. Using these two points, we can find the demand equation:
b = (20-5)/(10-20) = 1.5
a = 10 + b*20 = 40
So the demand equation is p = 40 - 1.5q. Setting this equal to the supply equation, we have: 15 - 0.75q = 40 - 1.5q
Solving for q, we get q = 20. Substituting this into either equation, we can find the equilibrium price:
p = 40 - 1.5*20 = 10
So the equilibrium price is 10 cedis and the equilibrium quantity is 20 units. Now let's consider the effect of a per unit tax of 4 cedis. The new supply equation is: p = 15 - 0.75q - 4 = 11 - 0.75q
To find the new equilibrium price and quantity, we again set the supply price equal to the demand price:
11 - 0.75q = 40 - 1.5q
Solving for q, we get q = 22. Substituting this into either equation, we can find the new equilibrium price: p = 40 - 1.5*22 = 7
So the new equilibrium price is 7 cedis and the new equilibrium quantity is 22 units.
The price rise to the consumer due to the tax is the difference between the new equilibrium price and the old equilibrium price, which is 7 - 10 = -3 cedis. This means that the consumer pays 3 cedis less per unit than before the tax, but the total price including the tax is higher.
The tax revenue raised is equal to the tax per unit multiplied by the quantity sold: tax revenue = 4 * 22 = 88 cedis
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When a manufacturer produces several products that are substitutes for one another and others that complement these products, it should use Blank______.
It is important that a manufacturer uses a Product-line pricing when its produces products that serves as substitutes for one another and others that complement these products.
What is a Product-line pricing?This is product pricing strategy that is implement when a firm has more than one product in a product line.
The pricing strategy ensured the profitability is achieved by a firm in the market.
Therefore, the pricing strategy is imporant to use when a products serves as substitutes for one another.
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Jonas wrote to smith offering to sell 42 acres if farmland at $5,000 per acre with the purchase price to be paid at the closing. Smith replied, accept for the 42 acres, for the $5,000 per acre, but will pay the purchase price two days after closing ." Is this an acceptance ?
Answer: yes
Explanation:
Yes, this is an acceptance on the part of Smith at law.
In law, acceptance refers to an promise or agreement made by a party to to fulfill the other parties terms to allows the enforcement of the contract.
The element of Acceptance in law does not make valid a contract.
The contract becomes valid after the buying party makes the required consideration (payment) to the selling party.
In conclusion, this is an acceptance on the part of Smith at law.
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Goods sold to Mahesh Rs 20000 journal entries
Answer:
see below
Explanation:
This transaction is affecting sales. It is increasing sales( revenue account) by Rs 20,000. An increase in sales is recorded by crediting the sales account.
The goods are sold to Mahesh. It is an increase in accounts receivable ( asset account). An increase in assets is recorded as a debit to the asset account.
The Journal will be as follows.
Mahesh A/c Dr. Rs. 30,000
Sales A/c Cr. Rs.20,000
What is an example of SECONDARY market research
Answer:
News articles and Reports
Explanation:
its how they draw their data
Answer: Market research that's already compiled and organized for you. Examples of secondary information include reports and studies by government agencies, trade associations or other businesses within your industry.
Explanation: Secondary research uses outside information assembled by government agencies, industry and trade associations, labor unions, media sources, chambers of commerce, and so on. It's usually published in pamphlets, newsletters, trade publications, magazines, and newspapers. Secondary sources include the following: public and commercial sources
Edith decides to double the number of workers by hiring 3 new baristas. will hiring these workers allow the shop to double output?
The decision to hire three new baristas will not necessarily allow the shop to double its output.
The output of a shop depends on various factors such as the efficiency of the workers, the capacity of the equipment, and the demand for the product. Hiring more workers can potentially increase the output, but it is not a guarantee.
To determine if hiring these new workers will double the output, we need to consider the current situation. If the shop currently has three baristas and hiring three more will bring the total number of workers to six, it might lead to an increase in output. However, it's important to note that the increase in output may not be exactly double.
Increasing the number of workers can help with tasks such as serving customers, making drinks, and cleaning. With more workers, the shop may be able to serve more customers and reduce waiting times, resulting in a higher output. However, there may be limits to how much output can be increased solely by hiring more workers.
Other factors like equipment capacity, space constraints, and customer demand also play a role in determining the shop's output. If the equipment or space is already at maximum capacity, hiring more workers may not lead to a significant increase in output.
To accurately assess the impact of hiring these new baristas on the shop's output, it would be helpful to consider the current output levels, the efficiency of the existing workers, and the potential bottlenecks in the production process.
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You work in a deli. Your busiest time of the day is the lunch hour rush, when many working people from nearby factories and businesses come to grab something quick to eat. Unfortunately, a new fast food restaurant is opening up next door to your deli. How can you avoid losing your lunch customers to this new competitor? 2.1Offer a solution to the problem described in the scenario by evaluating it against the eight (8) step problem-solving process.
To avoid losing your lunch customers to this new competitor, you need to develop a marketing and promotion plan to help attract and retain customers.
A solution based on the eight-step problem solving process would be:
Step 1 - Problem definition:
Entry of a new competitor in the market.Step 2 - Problem clarification:
A new fast food restaurant is opening next to its Delicatessen, which could pose a threat to the company as the main customers are workers from nearby companies who come for a quick bite to eat.Step 3 - Set goals:
The goals according to this scenario could be:
Maintain or increase monthly billing.Increase the company's revenue in the morning.Prospect new customers from social media.Step 4 - Identify the root cause of the problem:
The root cause of the problem is the fact that workers have the need for greater speed, which can be an opportunity for the fast food restaurant.Step 5 - Develop the action plan:
adapt your product to the customer's needs.provide discount coupons to the customer.create loyalty cards that guarantee 50% discounts for every 5 meals.create a delivery app.Step 6 - Execute the action plan:
The execution of the action plan is the stage where communication channels will be used to transmit your advertising.For each customer who goes to eat at Delicatessen, you can distribute loyalty cards and a discount coupon as a thank you.Staff training is also needed to make delivery of meals to the customer faster.Step 7 - Results evaluation:
In this step you should analyze the results of the new marketing actions implemented, observing the billing rates and customer behavior data.Step 8 - Continuously improve:
In the last step, therefore, it is necessary to identify and correct the possible flaws in the action plan in order to fix them and generate strength for quality and value creation for the customer through the services offered at the restaurant.Learn more here:
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1. Equilibrium point 2. Demand curve 3. Quantity axis 4. Price axis 5 Supply curve Match each of the options above to the items below. O This is the point at which the quantity of oil in supply meets the quantity in demand. O This part of the graph indicates the quantity of oil. The quantity increases along the continuum. O This part of the graph indicates the price of oil. The price increases along the continuum. O This represents the amount of available oil. This increases when prices are high. O This represents how much oil buyers want to purchase.This increases when prices are low.
This reflects the desired amount of oil purchases. When prices are low, this gets worse.
Who is a buyer in business?A buyer, also referred to as a purchaser, is in duty of purchasing goods on behalf of a business. They are in charge of discussing contracts with vendors, investigating potential purchases, and evaluating the present product lineup.
Who is buyer and seller?Seller and Buyer. A buyer is defined as an individual who sells or has contracted to buy goods in Section 2(1) of the Act. A buyer is among the participants in the agreement because a sale is an agreement between two people. The Act's section 2 defines "seller" (13). A salesman is someone who has made a deal to sell something.
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According to _____, location-specific advantages are of considerable importance in explaining both the rationale for and the direction of foreign direct investment.
Multiple Choice
a. the infant industry argument
b. market imperfections theory
c. internalization theory
d. the eclectic paradigm
e. Knickerbocker's theory
The correct option d. the eclectic paradigm. According to the "eclectic paradigm," location-specific benefits play a significant role in describing the motivation behind and course of foreign direct investment.
Explain about the foreign direct investment?The goal of obtaining a long-term interest in a company located in another economy by an investor from one economy is reflected in the type of international investments known as foreign direct investment (FDI).
For instance, a US business may buy stock in a foreign firm that provides it with all the raw resources it requires. A corporation invests together in foreign company that is irrelevant to its main business in a conglomerate FDI.Economic theory, also referred to as the OLI model as well as OLI framework, is the eclectic paradigm. It gets over the drawbacks of fragmentary theories of global production and offers a comprehensive framework in which alternative and related theories of global production can coexist.Thus, according to the "eclectic paradigm," location-specific benefits play a significant role in describing the motivation behind and course of foreign direct investment.
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the accounting identity that is used to estimate the gross domestic product of a country is given by
Production equivalent, Expenditure equivalent, and Income provide the accounting identities needed to calculate a nation's gross domestic product.
What is the definition of the gross domestic product?a comprehensive assessment of American economic activity. The GDP measures the value of the finished products and services produced in the US (without double counting the intermediate goods and services used up to produce them).
Why do manufacturing costs and income equal each other?The macroeconomy of a nation must be balanced between income and expenditure. This is the case since each transaction necessitates an equalization of the buyer's expenses and the seller's profits. The gross domestic product is a gauge of the economy's overall output or income (GDP).
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You have purchased a put option on ABC common stock for $2 per contract. The option has an exercise price of $50. What is your net profit on this option if stock price is $42 at expiration?
Net profit on the put option is $6 per contract. This is calculated by subtracting the exercise price ($50) from the stock price at expiration ($42), and deducting the initial cost of the option ($2).
Since the stock price at expiration ($42) is below the exercise price ($50), the put option is "in the money." The difference between the exercise price and the stock price is $8. After deducting the initial cost of the option ($2), the net profit per contract is $6.
Sure! Let's break down the calculation step by step.
A put option gives the holder the right to sell a stock at a specified exercise price. In this case, you have purchased a put option on ABC common stock for $2 per contract, with an exercise price of $50.
At expiration, the stock price is $42, which is below the exercise price of $50. This means that the put option is "in the money" because you have the right to sell the stock at a higher price than its current market value.
To calculate the net profit on the option, you need to consider the difference between the exercise price and the stock price, as well as the initial cost of the option.
The difference between the exercise price and the stock price is $50 - $42 = $8. This represents the intrinsic value of the option, as you can potentially sell the stock for $8 more than its current market value.
However, you also need to account for the initial cost of the option, which is $2 per contract. This is the amount you paid to acquire the option.
To determine the net profit, you subtract the initial cost of the option from the intrinsic value of the option: $8 - $2 = $6.therefore, your net profit on this put option would be $6 per contract.
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20.Which of the following is accurate? a When the price level decreases, the value of money decreases. b When the price level decreases, the value of money increases. c) When the price level decreases, the value of money remains the same. d None of the above. 21. A decrease in the money supply is most likely to: a Lower interest rates,investment,and aggregate expenditures. b Raise interest rates,lower investment,and lower aggregate expenditures c Raise interest rates and investment, and lower aggregate expenditures. d Raise interest rates, investment, and aggregate expenditures. gap, and when it is neg. 22.When the GDP/GDP gap is positive,it represents ative,it represents gap. c An inflationarya recessionary aA recessionaryan inflationary dAn employment;unemployment b An inf ationary;an employment. 23. In order to be considered moneypaper currency must be: a Convertible into a precious metal. b Issued by a government agency (c Generally acceptable as a medium of exchange (d Impossible to forge. imports. exports and
In question 20, the correct answer is (b) When the price level decreases, the value of money increases. In question 21, the correct answer is (b) Raise interest rates, lower investment, and lower aggregate expenditures. In question 22, the correct answer is (d) An inflationary; an employment gap. In question 23, the correct answer is (c) Generally acceptable as a medium of exchange.
20. When the price level decreases, the value of money increases. This is because a decrease in the price level allows each unit of currency to purchase more goods and services, thus increasing the purchasing power of money.
21. A decrease in the money supply is most likely to raise interest rates, lower investment, and lower aggregate expenditures. When the money supply decreases, there is less money available for lending and investment. As a result, lenders increase interest rates to compensate for the reduced supply of money. Higher interest rates discourage borrowing and investment, leading to lower aggregate expenditures.
22. When the GDP gap is positive, it represents an inflationary gap. A positive GDP gap occurs when actual GDP exceeds potential GDP, indicating that the economy is operating above its full-employment level. This situation often leads to upward pressure on prices, contributing to inflation.
23. In order to be considered money, paper currency must be generally acceptable as a medium of exchange. This means that people widely accept and use paper currency to facilitate transactions. While historically, some currencies were convertible into precious metals, and government issuance and security features play a role in establishing trust and preventing counterfeiting, the key characteristic of paper currency is its acceptance as a medium of exchange in the economy.
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Which of the following statements accurately describes the free enterprise
system in the United States?
Answer:
Businesses are generally free of government ownership and
control
Explanation: The answer is C.
A bicycle has a listed price of 862.99 before tax. If the sales
tax rate is 8.2%. Find the total cost of the bicycle with sales tax
included.
The total cost of the bicycle with sales tax included is $933.82
To find the total cost of the bicycle with sales tax included, we need to add the sales tax amount to the listed price.
Given:
Listed price of the bicycle = $862.99
Sales tax rate = 8.2% (or 0.082 as a decimal)
To calculate the sales tax amount, we multiply the listed price by the sales tax rate:
Sales tax amount = $862.99 * 0.082 = $70.83 (rounded to the nearest cent)
To find the total cost of the bicycle with sales tax included, we add the sales tax amount to the listed price:
Total cost = Listed price + Sales tax amount = $862.99 + $70.83 = $933.82 (rounded to the nearest cent)
Therefore, the total cost of the bicycle with sales tax included is $933.82.
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Which of the following demonstrates active listening while receiving constructive criticism well
Answer:
c
Explanation:
How might the dying out of other languages due to the global growth of English affect international business? Explain whether you think this language loss will positively or negatively impact international business.
The dying out of other languages due to the global growth of English may create communication barriers between companies that speak different languages.
How is the global growth of English going to affect the world ?On the positive side, the far reaching utilize of English can make it simpler for companies to communicate and do commerce with each other. English has ended up the lingua franca of worldwide trade, and its dominance has encouraged the development of worldwide exchange and speculation.
Be that as it may, the dominance of English may too have negative results. It may lead to the misfortune of social differing qualities and the concealment of minority dialects. This seem have social and financial impacts on communities that are marginalized or avoided from the worldwide economy.
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productivity in the southern ocean is great when the sun is out, but what else make these waters flourish?
The productivity in the Southern Ocean is not only dependent on the presence of sunlight, but also on the availability of nutrients. The Southern Ocean is known for its high levels of nutrients due to the upwelling of deep, nutrient-rich waters. These nutrients are essential for the growth of phytoplankton, which are the base of the ocean food chain.
The upwelling of deep, nutrient-rich waters occurs due to the strong, continuous winds and currents that circulate around Antarctica. These winds push surface waters away from the continent, allowing nutrient-rich waters from the depths to rise up and fill the gap. This process is known as upwelling, and it plays a crucial role in sustaining the high productivity of the Southern Ocean.
In addition to upwelling, the Southern Ocean is also home to a diverse range of marine life, including krill, squid, and a variety of fish species. These organisms play important roles in the ocean food chain, providing food for larger predators such as seals, whales, and seabirds.
Overall, the high productivity of the Southern Ocean is a complex interplay of sunlight, nutrients, and a diverse array of marine life. Understanding these factors is essential for managing and protecting the unique and important ecosystem of the Southern Ocean.
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Discuss ethical concerns you see in your project. How will you
address or prevent them?
Answer:
i Will try my best on that side
To avoid human subjects research problems, the project team could ensure that all research involving human subjects follows ethical guidelines.
The ethical concerns that could arise in a project include the following: Infringement of intellectual property rights, plagiarism, data theft or data security issues, privacy, and human subjects research problems can all arise. Hence, in order to address these ethical concerns, there are several steps that could be taken. They are as follows:1. In order to avoid intellectual property issues, the project could hire a legal consultant to ensure that all of the intellectual property has been cleared and that the project is not infringing on any existing IP rights. 2. Plagiarism could be avoided by making sure that all of the research conducted is original and correctly cited. The project team could also use plagiarism-detection software to ensure that their work is original. 3. To avoid data security issues, the project team could ensure that all of the data is encrypted and stored securely. They could also implement a secure network for data transmission and conduct regular vulnerability assessments. 4. Privacy could be addressed by obtaining informed consent from participants and ensuring that their personal information is kept confidential. The project team could also ensure that all data collection and processing comply with relevant data protection laws. 5. Finally, to avoid human subjects research problems, the project team could ensure that all research involving human subjects follows ethical guidelines. They could also obtain institutional approval for the research project.
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Identify the possible mediating variable in a quantitative study exploring the effects of pre-college advising for high school seniors.
A mediating variable is a variable that explains the relationship between the independent variable (pre-college advising) and the dependent variable (outcomes for high school seniors). In a quantitative study exploring the effects of pre-college advising for high school seniors, the possible mediating variable could be students' motivation to pursue higher education.
The provision of pre-college advising may increase students' motivation to pursue higher education by providing them with information and guidance on the benefits of higher education, available options, and the application process. This increased motivation, in turn, may lead to better outcomes for high school seniors, such as higher rates of college enrollment, persistence, and completion.
Other possible mediating variables in this study could be students' self-efficacy, academic preparedness, and social support. These variables may also play a role in explaining the relationship between pre-college advising and outcomes for high school seniors.
Overall, identifying the mediating variable(s) in a quantitative study is important for understanding how and why a particular intervention (pre-college advising) is effective in achieving desired outcomes for the target population (high school seniors).
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using the present values worksheet (as in the lecture), how much more is the present value of a $100 lump sum to be received in 10 years for an interest rate of 5% versus 10%? (do not use $ sign in your answer).
The concept of the time value of money states that the value of a dollar today is worth more than the value of a dollar in the future.
The present value,or the total amount that a series of future payments is worth at this time.If pv is omitted, it is assumed to be 0 zero and must include the payout argument. For a lump sum,present value is the value of a given amount today.For example, if you deposited $5,000 in a savings account today at a given interest rate, say 6%, with the goal of withdrawing it in exactly three years,today's $5,000 would be a present value lump sum.PV,one of the financial functions,calculates the present value of a loan or investment, based on a constant interest rate.You can use PV with regular,ongoing payments,such as a mortgage or other loan,or a future security that is your investment objective.
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What is the difference between a market economy and a command
economy?
A. A market economy is determined by central authority and a
command economy is determined by consumers.
B. A market economy is determined by consumers while a command
economy is determined by both consumers and central authority.
C. A market economy is determined by both central authority and
consumers while a command economy is determined by only
consumers.
D. A market economy is determined by consumers and a command
economy is determined by central authority.
Answer:
D: A market economy is determined by consumers and a command
economy is determined by central authority.
Explanation:
Because command economy the government own the factors of production such as land, capital, and resources.
what statements from the client's focused interview correlate to the abnormal inspection findings? (select all that apply.)
The statements from client's focused interview correlate to abnormal inspection findings are past surgical history of an appendectomy and change in body mass index (BMI).
What is body mass index?Using a person's mass (weight) and height, the body mass index (BMI) is calculated. The body mass index (BMI) is stated in units of kg/m2 and is calculated by dividing the body weight in kilograms by the height in meters. A table or chart that presents BMI as a function of mass and height using contour lines or colors for different BMI categories, and which may use other units of measurement, may be used to calculate BMI. Based on tissue mass and height, a person's BMI can be used as a convenient generalization to classify them as underweight, normal weight, overweight, or obese.
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Which function of the marketing mix enables you to reach out to customers
Answer:
promotion
Explanation:
for plato
An innovative business idea that no one has never had
An innovative business idea that no one has never had is Offering virtual assistance to other businesses.
What is innovative business idea ?innovative business idea can be described as an idea in business that cn be developed so that it can be a way to earn a living by providing the services or the goods to the consumer.
It should be noted that this innovation can be the one that no one has ever done or the modification of the one that has been in exisitence, however providing the virtual assistance serves as one of the innovation in business that can ring profit.
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Complete question:
State An innovative business idea that no one has never had
Faldo Corp sells on terms that allow customers 45 days to pay for merchandise. Its sales last year were $325,000, and its year-end receivables were $60,000. If its DSO is less than the 45-day credit period, then customers are paying on time. Otherwise, they are paying late. By how much are customers paying early or late? Base your answer on this equation: DSO - Credit Period = Days early or late, and use a 365-day year when calculating the DSO. A positive answer indicates late payments, while a negative answer indicates early payments.a. 21.27b. 22.38c. 23.50d. 24.68e. 25.91
Answer:
b. 22.38
Explanation:
The credit period to pay for merchandise is 45 days, sales for last year = $325,000, therefore sales/day (daily sales) = $325,000/365 = $890.41
Year-end receivables = $60,000
Company DSO = Year-end receivables/ daily sales = $60000/$890.41 = 67.38
The difference between the Company DSO and credit period determines if the payment is early or late. A positive answer indicates late payments, while a negative answer indicates early payments.
Therefore, Company DSO - credit period = 67.38 - 45 = 22.38
Since the difference is positive, it is a late payment
sidney took a $250 cash advance by using checks linked to her credit card account. the bank charges a 3 percent cash advance fee on the amount borrowed and offers no grace period on cash advances. the interest rate on cash advances is 18%. sidney paid the balance in full when the bill arrived. what was the total amount she paid to borrow the $250 (including the $250)?
Sidney paid a total amount of $261.25 for the cash advance
The annual interest produced by a sum that is paid to investors or charged to borrowers is referred to as the annual percentage rate (APR). APR is a percentage that expresses the actual annual cost of borrowing money throughout the course of a loan or the revenue from an investment. This does not account for compounding and includes any fees or additional costs related to the transaction. Consumers can compare lenders, credit cards, or investment products using the APR as a benchmark figure.
Cash advance amount = $250
Cash advance fee = 3%
So, a cash advance fee = 3% of 250 = $7.50
APR = 18%
So, one month APR = 250*18%*1/12 = $3.75
The total amount paid = Principal + advance fee + APR
= 250 + 7.50 + 3.75
= $261.25
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Which factor plays the biggest role in motivating economic decisions in a
market economy?
O A. Corruption in the leadership of powerful groups
O B. Commitment to maintaining a traditional lifestyle
O C. Competition between different businesses
D. Cooperation between governments and citizens
Cooperation between governments and citizens: plays the biggest role in motivating economic decisions in a market economy. Thus, option D is the correct option.
What Is a Market Economy?A market economy is a kind of capitalism in which a nation's companies and residents interact to determine economic policy and the cost of products and services. Although there may be some central planning or government interference, this phrase often denotes a more generally market-oriented economy.
The majority of economic decisions in a market economy are made through voluntary transactions that follow the rules of supply and demand. In a market economy, entrepreneurs are free to pursue profit by producing outputs that are worth more than the inputs they use, or, if they choose not to, to fail and close their doors. The forces of supply and demand are used in market economies to set the right prices and quantities for the majority of products and services.
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Select the correct answer.
Apex Bank lent a substantial amount of money to Polytech Inc. After reviewing the financial statements of Polytech, Apex Bank finds some
Inconsistencies. Which body can Apex Bank approach to verify Polytech's financial data?
ОА.
Chartered Financial Analysts
OB.
Financial Accounting Standards Board
ОС.
American Association of Public Accountants
OD
American Institute of Certified Public Accountants
Ο Ε.
Security and Exchange Commission
This is wrong do not use this
Answer:
E. Security and Exchange Commission
Explanation:
I'm not 100% sure but i looked through all of them and that one seems to fit best
Apex Bank lent a substantial amount of money to Polytech Inc. After reviewing the financial statements of Polytech, Apex Bank finds some Inconsistencies. Security and Exchange Commission body can Apex Bank's approach to verifying Polytech's financial data. The correct option is E.
Why does the SEC protect investors?In order to maintain a flexible and effective regulatory environment. Federal securities laws aim to support competitive, fair, and transparent markets that safeguard investors from hidden risk while promoting market access and innovation.
The Securities and Exchange Commission regulates stock exchanges, brokers and dealers in securities, investment advisers, and mutual funds in an effort to encourage ethical business practices, the public disclosure of crucial market information, and the avoidance of fraud.
Thus, the ideal selection is option E.
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Whoever says I WIN first gets a brainliest
Answer:
I WIN
udyfjctdkbhdyghdgvhfhv
Answer:
i win
Explanation:
:))))
One study estimates that if India used the human and physical capital that it does have as efficiently as the United States uses its capital, it would be four times richer than it is today. This demonstrates the importance of:Please choose the correct answer from the following choices, and then select the submit answer button.Answer choicespolitical stability as an important institution.a dependable legal system as an institution.honest government as an institutionpetitive and open markets as an institution.
Answer:
The correct option is: Competitive and open markets as an institution.
Explanation:
The United States has managed to enhance the country's human capital by opening new markets and providing job opportunities to many people.
Similarly, India needs to create new marketing policies where people are encouraged to prepare, to be more competitive and to work hard to achieve a better socioeconomic development of the country.
India needs to know the market and enhance the formation of human capital.
Moki Hunt recently purchased Swift Waters Adventures, a kayaking and canoeing rental business near the Salt River in Arizona. Swift Waters Adventures had been in operation for five years and was located in an ideal area. Even though the winters in the area can be cold, kayaking and canoeing activities are generally popular year-round. After two months of operation, it became clear why the previous owners had sold the business. While the business appeared to be ideally located, sales were extremely disappointing. Refer to Scenario 5.2. Moki decided to apply some of the things he had learned in his marketing research class to his business. The first thing he should do is to ___________ which will help him ______.
First thing he needs to do is:
properly describe the problem he is facingThis will help him:
decide what kind of data he needs to gatherMoki is experiencing low sales which means that he needs to embark on a marketing campaign. If he does not know what exactly is wrong however, he cannot do much in the campaign.
The first step therefore is to properly describe the issues he is facing. This will help him know what kind of data he needs to enabled him to come up with a good enough plan to reverse his fortunes.
In conclusion, Moki Hunt should describe his problem and then collect the appropriate data.
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