Partnership is a legal business structure where two or more individuals agree to share profits, losses, and responsibilities in a jointly owned venture. It is formed through a partnership agreement that outlines the terms and conditions of the partnership.
The features of a partnership include:
1. Agreement: Partnership is based on a mutual agreement between partners, which can be oral or written.
2. Two or more partners: A partnership requires a minimum of two partners and can have a maximum of twenty partners in case of a general partnership.
3. Sharing of profits and losses: Partners share the profits and losses of the business in the agreed proportion as mentioned in the partnership agreement.
4. Joint ownership and control: Partners jointly own and manage the business, sharing decision-making authority.
5. Unlimited liability: Partners have unlimited personal liability for the debts and obligations of the partnership.
6. Mutual agency: Each partner acts as an agent of the partnership, binding the other partners to the actions and contracts.
7. Dissolution: A partnership can be dissolved based on the agreement, retirement, death, or bankruptcy of a partner.
8. Limited life: A partnership has a limited life span and ceases to exist upon the occurrence of certain events as mentioned in the agreement or upon the death or withdrawal of a partner.
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Mark, a sales rep with a large technology company, is celebrating today because he just closed a large deal, which means a sizeable commission. Even the finance department is thrilled because Mark used __________ to review the credit history of this customer to be sure the deal would be a profitable one for the company.
Mark used Business intelligence to review the credit history of this customer to be sure the deal would be a profitable one for the company.
Business intelligence is defined as the technology software comprising of tools and processes that help to compute and analyse data for business information.Processes involve in Business intelligence are
Data mining Reporting Performance metrics and benchmarking Descriptive analytics Querying Statistical analysis Data visualization Visual analysis Data preparationBy easily assessing an organization’s data, An organisation can improve efficiency, drive changes that adapt to market changes and trends , Analyze customer behaviors
, Track performance, etc.
Thus, we can conclude that Mark used Buisness intelligence to review the credit history of this customer to be sure the deal would be a profitable one for the company.
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Which word best describes the
of buying a money order?
process
A. Cumbersome
B. Effortless
C. Uncomplicated
The word that best describes buying a money order is Option D. Uncomplicated.
A money order is a financial instrument that allows individuals to securely send or receive payments. The process of purchasing a money order is quite straightforward and does not involve cumbersome steps or significant effort.
To buy a money order, you simply visit a location that offers the service, such as a post office, bank, or grocery store. You then provide the necessary information, including the recipient's name and the desired amount, and pay for the money order using cash, a debit card, or another form of accepted payment. After that, you receive the money order, which can be sent to the recipient either by mail or in person.
In comparison to other methods of sending money, purchasing a money order is generally less complicated and offers increased security, since it is backed by the issuing institution. The recipient can then cash or deposit the money order at their convenience, ensuring they receive the funds without delays or potential issues associated with personal checks.
Overall, obtaining a money order is a simple, secure, and efficient way to send or receive payments, making it an uncomplicated option for those who prefer not to deal with more complex financial transactions. Therefore, the correct option is D.
The question was incomplete, Find the full content below:
Which word best describes buying a money order?
A. process
B. Cumbersome
C. Effortless
D. Uncomplicated
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Both Coca Cola and Benetton are global enterprises. Conduct online research and answer the following questions: What characteristics do these two firms display that qualify them as global enterprises?
Answer: here’s a photo of sample answer
Explanation:
Answer:
Both companies (Coca Cola and Benetton) registered as corporations, and both have a worldwide footprint across a number of countries. Both companies registered under the Companies Act of the respective countries in which they maintain a presence, and both abide by the laws and regulations of each nation.The companies operate on a large scale with huge investments in research and development, machinery, plants, and capital. They have numerous business functions that include marketing, manufacturing, market research, advertising, finance, and many more. They simultaneously work toward their core missions of generating profits, satisfying the needs of their customers, and continuously expanding their presence in current business markets and additional nations. They both raise capital from stock exchange markets.Both firms provide employment opportunities in their host nations and provide good quality products at moderate local rates. They also help in transferring resources such as raw materials and technology from advanced nations to the nations in which they operate.
Explanation:
all small indusrties are highly labor intensive true /false given reason
Answer:
FALSE.
Explanation:
Not ALL small industries are highly labor-intensive. If you start a small industry, it could become highly labor-intensive as a result of insufficient staffing, inventory, and other factors.
TIP: Never use "ALL", "ALWAYS", "NEVER", etc...words like this turn arguments false.
Sergio needs to reach his supervisor as soon as possible to make a decision about an important client who is threatening to take their business elsewhere if they do not get an immediate response. What is the MOST logical channel of communication for Sergio to use to contact his supervisor and why?
Answer: The most logical channel of communication for Sergio to use to contact his supervisor would be a phone call or an instant messaging service. This is because phone calls and instant messaging allow for immediate, real-time communication. Sergio needs to reach his supervisor as soon as possible to make a decision about an important client and these two channels of communication allow for the fastest and most direct form of communication. Email or text message may take longer for the supervisor to receive and respond to, which would not be ideal for Sergio's situation.
Explanation:
Kamal, Kamala, Krishna invert a sum of RS= 30,000 on a business in the ratio 2 : 3 : 5. Find the each of their investment.
Answer:
3000kamal
9000kamala
15000krishna
Explanation:
let the unknown investment be x
now
2x+3x+5x=30000
10x=30000x
x=30000/10
x=3000
again;
2x=2×3000=6000
3x=3×3000=9000
5x=5×3000=15000
wise it is correct
Answer:
Kamal
2×30000÷10 = 6000
Kamala
3×30000÷10= 9000
Krishna
5×30000÷ 10= 15000
Explanation:
Kamal _ RS = 6000
Kamala _RS =9000
Krishna _RS=1,5000
Paul owns a photography studio, and he has applied for a loan to
purchase a larger space so he can show his, and other local photographers’, work.
As part of the loan process, the bank reviews Paul’s credit history, which reveals that
Paul’s studio has been in operation for six months, Paul has an active loan on some
photography equipment for $8,000, Paul has a credit score of 650, and the studio
turns a decent profit. Given all this information, Paul’s loan is denied.
Determine which item from Paul’s credit history caused the denial.
Answer:
A credit score of 650 is slightly below average for the populace, coupled with the fact that the studio has been in operation for a short period of time and he has an outstanding loan of $8,000, is the reason he was rejected. It was the outstanding loan.
Explanation:
Sasha is in big brothers/sister, and she meet her little sister for fast food several times a week. She also takes her elderly uncle to dinner every weekend so he can get out of the house. What items would you add back, and what would you cut
The items that would be cut to save money would be the frequent visit that Sasha makes to the fast food
What items would you add back, and what would you cutFor the purpose of cutting back on expenditures, Sasha might begin by decreasing the amount of times she and her sister visit fast food restaurants, replacing these moments with less costly choices like visiting a park or having a meal outdoors.
Furthermore, instead of paying for restaurant outings weekly with her uncle, Sasha should contemplate hosting him at home and preparing a homemade dish or researching no-charge pastimes they can share together.
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Select the correct answer. What is a SWoT analysis?
A. marketing strategy
B. a market research strategy
C. a strategy to spot opportunities D. a strategy to allocate resources E. astrategy to understand resource allocation
Answer:
B
Explanation:
SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. SWOT analysis (or SWOT matrix) is a strategic planning technique used to help a person or organization identify strengths, weaknesses, opportunities, and threats related to business competition or project planning.
Answer:
I think its C.
Explanation:
I'm trying to find the answer, too, but I know it's not B because I got it wrong before. D and E don't match SWOT at all, so those are out. It's either A or C. C seems the better bet though, as what I've learned from the internet, it helps in deciding a market research strategy, not being one itself.
So C is the right answer from using the process of elimination.
sean, a sales manager at placit store, is tasked with generating sales revenue, maintaining customer relationships, and performing sales support activities. this scenario illustrates the .
The scenario described illustrates the role of Sean as a sales manager at Placit Store.
Sean's main responsibilities include generating sales revenue, maintaining customer relationships, and performing sales support activities.
In more detail, Sean's role involves actively seeking out potential customers, persuading them to make purchases, and ensuring that sales targets are met. He also focuses on building and nurturing long-term relationships with existing customers to encourage repeat business and customer loyalty.
Furthermore, Sean provides sales support by assisting customers with their inquiries, addressing their concerns, and providing product knowledge. He may also collaborate with other teams within the company, such as marketing and customer service, to enhance the overall sales process.
Overall, Sean's role as a sales manager at Placit Store encompasses generating revenue, nurturing customer relationships, and providing sales support activities.
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what is the concern regarding the changes produced by token economies?
Token economies have been effective for a long time in motivating individuals, promoting desirable behaviour, and reinforcing good habits. However, the introduction of token economies has resulted in a variety of modifications that are a source of concern.
The following are some of the key worries that have been raised in connection with token economies: Overreliance on the token economy: Some people argue that overreliance on the token economy might lead to a reduction in intrinsic motivation. This implies that individuals may become more reliant on the external rewards provided by the token economy and less on the internal incentives that drive behaviour.
Potential for devaluation of the rewards: Token economies might result in the devaluation of the tokens, particularly if they are not accompanied by actual rewards. This may result in individuals failing to appreciate the value of the tokens and hence failing to change their behaviour. Creating a dependent relationship: A token economy might foster dependency, according to some people. Because individuals rely on the token economy for positive reinforcement, they may become too reliant on the external rewards and lose the ability to motivate themselves internally. Token economies have been effective for a long time in motivating individuals, promoting desirable behaviour, and reinforcing good habits. However, the introduction of token economies has resulted in a variety of modifications that are a source of concern. The first concern is overreliance on the token economy. Some people argue that overreliance on the token economy might lead to a reduction in intrinsic motivation. This implies that individuals may become more reliant on the external rewards provided by the token economy and less on the internal incentives that drive behaviour. In addition, if individuals become too reliant on external incentives, they may not learn how to motivate themselves, which might lead to issues in the future. The second worry that has been raised in connection with token economies is the potential for the devaluation of the rewards. Token economies might result in the devaluation of the tokens, particularly if they are not accompanied by actual rewards. This may result in individuals failing to appreciate the value of the tokens and hence failing to change their behaviour. Furthermore, if tokens are awarded too often, they may lose their worth, making the token economy ineffective in motivating behaviour. The third concern regarding token economies is creating a dependent relationship. A token economy might foster dependency, according to some people. Because individuals rely on the token economy for positive reinforcement, they may become too reliant on the external rewards and lose the ability to motivate themselves internally. This might result in individuals becoming less self-sufficient and being unable to function effectively in the absence of the token economy. Therefore, while token economies have been successful in motivating people, it is crucial to consider these concerns when implementing a token economy to guarantee that it is effective and does not result in negative consequences.
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63) The elasticity of demand for chocolate chip cookies is 0.6 and the elasticity of supply for these cookies
is 1.9. If a tax is imposed on purchases of chocolate chip cookies, then the
The elasticity of demand for chocolate chip cookies is 0.6, which indicates that it is inelastic. Inelastic demand means that the quantity demanded by consumers does not change significantly with changes in price. This suggests that chocolate chip cookies are a product that people tend to continue purchasing despite fluctuations in price.
On the other hand, the elasticity of supply for chocolate chip cookies is 1.9, indicating that it is elastic. Elastic supply means that the quantity supplied by producers is highly responsive to changes in price. In this case, if the price of chocolate chip cookies increases, suppliers will produce more cookies to take advantage of the higher price. If a tax is imposed on purchases of chocolate chip cookies, consumers would bear a larger portion of the tax burden because of the inelastic demand. Since consumers are less sensitive to price changes, they are more likely to continue purchasing the cookies despite the increased price due to the tax. Producers, with their elastic supply, will adjust their production according to the new price, minimizing their share of the tax burden. In summary, when a tax is imposed on chocolate chip cookies, consumers will bear a larger portion of the tax burden due to the inelastic demand, while producers will adjust their production based on the elastic supply.
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which microbes is used to extract ethanol from fruit juice and sugar molasses ·
Answer:
Yeast
Explanation:
A microbe (microorganism) is a microscopic organism which either exist in its single-celled form or as colony of cells. Example of microbes are bacteria, archaea, algae, protozoa.
Yeast is a microbe used in the extraction of ethanol from fruit juices and sugar molasses. Saccharomyces cerevisiae is a specie of yeast which reacts with fruit juices and sugar molasses in the absence of Oxygen to produce ethanol and carbon dioxide.
Discuss how "The Cheesecake Factory" approaches and manages ethical issues.
Discuss a recent ethical issue involving "The Cheesecake Factory" and their management of the issue.
The Cheesecake Factory is committed to ethical business practices and approaches ethical issues with a comprehensive framework.
They prioritize integrity, fairness, and transparency in their operations. The company maintains a strong code of conduct that outlines expected behaviors and ethical standards for employees at all levels. They emphasize training and education to ensure employees understand and adhere to ethical guidelines. The Cheesecake Factory also encourages open communication, providing channels for employees to report any ethical concerns or violations. By fostering a culture of accountability and responsibility, The Cheesecake Factory strives to address ethical issues promptly and appropriately, safeguarding their reputation and maintaining trust with stakeholders.
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Khi nào bán hết 1 tỷ gói mè
Nonresponses as well as answers with a suspicious pattern necessitate ________ in the marketing research process that involves inspecting respondents' answers in the dataset.
A) validating interviewers survey methods
B) a separate phase of the data preparation stage
C) validating respondents' answers
D) a separate type of software analysis
The correct answer is (B) a separate phase of the data preparation stage. In the marketing research process, nonresponses or answers with a suspicious pattern require careful examination to ensure the data's quality and reliability.
This process is typically conducted as a separate phase within the data preparation stage. During the data preparation stage, researchers clean and organize the collected data to make it suitable for analysis. This stage involves various tasks such as coding, data entry, data cleaning, and validation. When nonresponses or suspicious patterns are observed in the dataset, it is necessary to address them separately to ensure data integrity. This involves inspecting respondents' answers, identifying missing or inconsistent data, and making decisions on how to handle them. Validating respondents' answers is a crucial step in this process. It may involve cross-checking responses with other data sources, conducting follow-up interviews or surveys to clarify ambiguous or contradictory answers, or verifying the accuracy of the provided information. By conducting a separate phase of data preparation to validate respondents' answers, researchers can identify and address any issues that may impact the reliability and validity of the research findings. This ensures that the data used for analysis is accurate, consistent, and representative of the target population, enhancing the overall quality of the marketing research process.
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bakeco, an nyse-listed food company, has decided to split off its cookie-making operation into a separate corporation. current shareholders will receive one share of the new company, bigcookieco, for each share of bakeco they own as of the record date. this action is an example of
This is an example of a corporate spin-off. A corporate spin-off is a type of corporate restructuring in which a company creates a separate business unit by separating a portion of its operations from the parent .
company and distributing it to existing shareholders as a new company.
This type of corporate action occurs when a company wants to focus on a particular business segment or when it wants to unlock the value of a business unit that is not reflected in the overall company’s share price.
In this case, the parent company, Bakeco, is separating its cookie-making operations into a new company, Bigcookieco, and distributing one share of Bigcookieco for each share of Bakeco owned by existing shareholders on the record date.
This action is beneficial to existing shareholders of Bakeco, who will now have shares of both Bakeco and Bigcookieco, allowing them to diversify their investments.
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Taxes: The Internal Revenue Service reports that the mean federal income tax paid in the year 2010 was $8040. Assume that the standard deviation is $4700. The IRS plans to draw a sample of 1000 tax returns to study the effect of a new tax law. Part 1 of 5 (a) What is the probability that the sample mean tax is less than $8100 ? Round the answer to at least four decimal places. The probability that the sample mean tax is less than $8100 is Part 2 of 5 (b) What is the probability that the sample mean tax is between $7600 and $8000 ? Round the answer to at least four decimal places. The probability that the sample mean tax is between $7600 and $8000 is Part 3 of 5 (c) Find the 10 th percentile of the sample mean. Round the answer to at least two decimal places. The 10 th percentile of the sample mean is $ (c) Find the 10 th percentile of the sample mean. Round the answer to at least two decimal places. The 10 th percentile of the sample mean is $ Part 4 of 5 (d) Would it be unusual if the sample mean were less than $7600 ? Round answer to at least four decimal places. It unusual because the probability of the sample mean being less than $7600 is Part 5 of 5 (e) Do you think it would be unusual for an individual to pay a tax of less than $7600 ? Explain. Assume the variable is normally distributed. answer to at least four decimal places. because the probability that an individual to pays a tax less than $7600 is
To solve these problems, we can use the concept of the sampling distribution of the sample mean and the z-score.
Given:
Mean (μ) = $8040
Standard deviation (σ) = $4700
Sample size (n) = 1000
Part 1 of 5 (a):
To find the probability that the sample mean tax is less than $8100, we need to calculate the z-score and then find the corresponding probability using a standard normal distribution table.
First, calculate the standard error of the sample mean:
Standard Error (SE) = σ / √n = $4700 / √1000 ≈ $148.50
Next, calculate the z-score:
z = (X - μ) / SE = ($8100 - $8040) / $148.50 ≈ 0.404
Now, we can find the probability using the z-table:
P(Z < 0.404) ≈ 0.6563
So, the probability that the sample mean tax is less than $8100 is approximately 0.6563.
Part 2 of 5 (b):
To find the probability that the sample mean tax is between $7600 and $8000, we need to calculate the z-scores for both values and then find the difference in probabilities.
For $7600:
z1 = (X1 - μ) / SE = ($7600 - $8040) / $148.50 ≈ -2.966
For $8000:
z2 = (X2 - μ) / SE = ($8000 - $8040) / $148.50 ≈ -0.269
Now, we can find the probabilities using the z-table:
P(Z < -0.269) ≈ 0.3938
P(Z < -2.966) ≈ 0.0014
To find the probability between the two values, we subtract the smaller probability from the larger probability:
P(-2.966 < Z < -0.269) ≈ 0.3938 - 0.0014 ≈ 0.3924
So, the probability that the sample mean tax is between $7600 and $8000 is approximately 0.3924.
Part 3 of 5 (c):
To find the 10th percentile of the sample mean, we need to find the z-score that corresponds to the cumulative probability of 0.10.
Using the z-table, we find that the z-score corresponding to a cumulative probability of 0.10 is approximately -1.28.
Now, we can calculate the sample mean value:
Sample Mean = μ + (z * SE) = $8040 + (-1.28 * $148.50) ≈ $7892.16
So, the 10th percentile of the sample mean is approximately $7892.16.
Part 4 of 5 (d):
To determine if it would be unusual for the sample mean to be less than $7600, we need to calculate the probability.
First, calculate the z-score:
z = (X - μ) / SE = ($7600 - $8040) / $148.50 ≈ -2.966
Using the z-table, we find that the probability of a z-score less than -2.966 is approximately 0.0014.
So, the probability of the sample mean being less than $7600 is approximately 0.0014.
Part 5 of 5 (e):
To determine if it would be unusual for an individual to pay a tax of less than $7600, we can use the concept of z-score and the standard normal distribution.
Since
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A small library contains 700 novels. in how many ways can you check out 3 novels? a. 70,498,130 b. 92,450,648 c. 65,239,500 d. 56,921,900 please select the best answer from the choices provided a b c d
Generally, the financial institution such as a bank lending out the sum of money usually requires that borrower provides a collateral which would be taken over in the event that the borrower defaults.
Who is borrower and lender?A lender is a person or entity that seeks funds from a lender. A Borrower is a person or financial institution providing monetary credit to the debtor. Role. They must repay the loan amount to the debtor. They have the right to ask for loan repayment from the debtor.
Is the bank a borrower or lender?Banks and financial institutions are prominent examples of lending entities in the real world. A borrowing entity may be involved in various companies that need resources/money to operate or set up new businesses.
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The correct option is a) 70,498,130. When selecting 3 novels out of a collection of 700 novels, the total number of possible ways you can check out the novels is known as a combination.
How many ways can you check out 3 novels from a library of 700 novels?70,498,130 ways
The formula for combination is:
nCr = n! / (r! (n-r)!)
where n = the total number of items in the set (700 novels)
r = the number of items you want to select (3 novels)
700! / (3! * (700-3)!) = 700699698 / (321) = 70498130
In simple terms, it means that there are 70498130 possible ways to select 3 novels out of 700 novels. This is also known as "700 choose 3" or "700C3".
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3. Considered the back office", Involves behind the scenes paperwork
required to complete all transactions. Found in both the service and the
manufacturing sector *
Answer:
The back office is the portion of a company made up of administration and support personnel, who are not client-facing. Back-office functions include settlements, clearances, record maintenance, regulatory compliance, accounting, and IT services.
Explanation:
What Is the Formula for Calculating Earnings per Share (EPS)?
A firm's demand for labor is known as a derived demand because the firm gains utility from hiring more labor the firm gains utility from hiring more labor A the wage rate paid to workers depends on the demand for labor the wage rate paid to workers depends on the demand for labor B the amount of labor demanded depends on the amount of capital invested the amount of labor demanded depends on the amount of capital invested C the amount of labor demanded depends on the demand for the firm's product the amount of labor demanded depends on the demand for the firm's product D the firm will benefit from hiring additional labor
Answer:
The correct answer is the option C: The amount of labor demanded depends on the demand for the firm's product.
Explanation:
To begin with, in the microeconomics theory we can find the answer to the question base upon the fact that the "derived demand" of labor is known like that because it will always depend on the amount of output that the company sells. Therefore that the amount of labor hired is derived from the amount of product sold. Understanding that if the company sells more of its product then it will hire more workers in order to increase the offer, according to basic supply laws. And that is why that obviously the demand ends up being dependent from the demand of the product itself.
2. Which of the following statements about taxes
is true?
a. Only the federal government has the right
to tax a person's income.
b. Any taxes collected by the government
are returned to the person when she files
her income tax return.
C. Taxes are the major source of revenue for
the government.
d. Taxes can only be taken out of a person's
income when she has a full-time job.
Answer:
C. Taxes are the major source of revenue for
the government.
Explanation:
The government imposes taxes on incomes, goods and services sold, imports, and other items to raise money to finance its operations. Therefore, taxes are a source of revenue for the government.
The government also engages in other revenue-generating activities such as trade through state-owned corporations. As a composition of total revenue collected, taxes are the biggest contributor to government revenues.
The primary difference between the payoff and the purchase and assumption methods of handling failed banks is.
At the time of handling failed banks, the main difference between the payoff method and the purchase & assumption methods is that the entire bank deposits are guaranteed by FDIC.
Who is FDIC?FDIC stands for federal deposit insurance corporation is the depository insurance that provides deposits to the depositing parties of American depository institutions.
According to FDIC, it guarantees all the bank deposits in the method of purchase and assumption by acquiring proportionate or entire failed assets or assuming some or all of the failed obligations of failed banks but In the pay-off method, FDIC pays directly the amounts of every depositor.
Therefore, in both methods, the deposits are guaranteed by FDIC but in different ways.
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during the introduction stage sales are ______ and profit is ______.
Product Life cycle Management has several stages. The stages determined the growth and low downs of product. During the introduction stage, sales are growing slow(low) and profit is minimal.
Market Introduction stage is often called the introduction stage that has a low growth rate of sales as the product is said to be recently brought into limelight and consumers may not know much about it.Most times, firms do experience losses rather than profits during this stage. and so when product is new on the market and small or no profit is made due to high costs and low sales.
Conclusively, the stage gives a lot of opportunities such as low competition in the market.
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John Jones decides to use his personal name for a line of clothing he is developing. Whether or not the name John Jones acquires a secondary meaning will depend on a. how extensively John markets his line of clothing. b. the market for John’s line of clothing. c. the number of clothing sales John makes. d. all of the choices are correct.
Answer:
D, all of the choices are correct
Explanation:
The name of a company and its perceived meaning goes a long way in the determining the success of the company.
In the case of John Jones in the above question, the name of his clothing line as well as the meaning perceived will determine how extensively John can market his clothing line. It will also determine the market for the clothing line; i.e male, female, unisex, old, young, teens, kids, etc.
The names and meaning as perceived will also determine the number of clothes that John makes.
These therefore makes all of the above option ins the question correct.
Cheers
If the state of Georgia had an exceptionally large crop of peanuts, what would happen to the demand for jelly
the demand for jelly would decrease
A fan base is, in most ways, quite similar to a customer base.
A. False
B. True
ABM Services paid a $4.15 annual dividend on a day it closed at a price of $54 per share. What
was the yield?
Answer:
Explanation:
94:15
The law of demand relates primarily to which of the following?
A
the actions of producers in response to changes in prices
B
the actions of producers in response to changes in production costs
C
the actions of consumers in response to changes in prices
D
the actions of consumers in response to changes in production costs
The law of demand relates primarily to the actions of consumers in response to changes in prices. Thus option (C) is correct.
What is demand?A demand of a product or a commodity is how much a consumer is willing and able to pay for a product at a given time.
The law of demand states the relationship between price and quantity demanded, ceterus paribus. It states that when the price of a product increases its demand decreases, other things remaining constant and vice versa.
The graphical representation of the law of demand is known as demand curve . When the tuition fees of a college falls then the demand for college enrollment will rise.
The law of demand relates primarily to the actions of consumers in response to changes in prices. Therefore, option (C) is correct.
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