a tariff is a group of answer choices limit on how much of a good can be exported. limit on how much of a good can be imported. tax on an exported good. tax on an imported good.
Answers
A tariff is a 'tax on an imported good'. Thus, option D 'tax on an imported good' is the correct answer.
One of the methods governments deal with trading bodies they disagree with is through tariffs. A tariff is referred to as a tax imposed by one government in a given on the goods and services imported from another country in order to raise revenues, protect competitive advantages, exert political leverage, or protect domestic industries.
Tariffs often result in higher consumer prices. It means that tariffs are taxes put on imports; increasing the price of products and services bought from another country and making them less attractive to domestic customers.
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Related Questions
Why do you think economists have different belief systems/theories on economics?
Answers
Answer:The principal disagreement among economists is a matter of economic philosophy. There are two major schools of economic thought: Keynesian economics and free-market, or laissez-faire, economics.
Keynesian economists, named after John Maynard Keynes, who first formulated these ideas into an all-encompassing economic theory in the 1930s, believe that a well-functioning and flourishing economy may be created with a combination of the private sector and government help.
By government help, Keynes meant an active monetary and fiscal policy, which works to control the money supply and adjust Federal Reserve interest rates in accordance with changing economic conditions.
By contrast, the free-market economists advocate a government "hands-off" policy, rejecting the theory that government intervention in the economy is beneficial. Free-market economists—and there are many distinguished advocates of this theory, including Nobel Memorial Prize winner Milton Friedman—prefer to let the marketplace sort out any economic problems. That would mean no government bailouts, no government subsidies of business, no government spending explicitly designed to stimulate the economy, and no other efforts by the government to help what the economists believe is the ability of a free economy to regulate itself.
Explanation:
during its first year, concord, inc., showed an $18 per-unit profit under absorption costing but would have reported a total profit $18,900 less under variable costing. if production exceeded sales by 700 units and an average contribution margin of 60% was maintained, what is the apparent:
Answers
the following makes the consumer price index (cpi) a less accurate measure of the cost of living:
the existence of a new goods bias in the calculation of the cpithe existence of a quality change bias in the calculation of the cpiThe Consumer Price Index (CPI) measures the monthly change in prices paid by consumers in the United States. The CPI is calculated by the Bureau of Labor Statistics (BLS) as a weighted average of prices for a basket of goods and services representative of total U.S. consumer spending.
The CPI is one of the most widely used indicators of inflation and deflation. The CPI report employs a different survey methodology, price samples, and index weights than the PPI, which measures changes in prices received by U.S. producers of goods and services.
The Consumer Price Index (CPI) is the most widely used measure of inflation, with policymakers, financial markets, businesses, and consumers closely following it. The widely quoted CPI is based on an index that covers 93% of the US population, while a related index is used to adjust federal benefits for cost-of-living adjustments. Housing rents estimate changes in shelter costs, including owner-occupied housing, which accounts for nearly one-third of the CPI.
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Eva invested a certain amount of money at 2% interest and $1500 more than that amount at 5%. Her total yearly interest was $215. How much did she invest at each rate
Answers
Eva invested $2000 at 2% and $3500 at 5%.Hence, Eva invested $2000 at 2% and $3500 at 5%.
Let us take the amount that Eva invested at 2% be x.
Let us take the amount that Eva invested at 5% be x + $1500.Therefore, the total amount that Eva invested is x + x + $1500 = 2x + $1500.We are given that Eva's total yearly interest was $215.The interest from 2% is (2/100)x = 0.02x.
The interest from 5% is (5/100)(x + $1500) = 0.05x + $75.
The sum of the interest is given to be $215. Thus,0.02x + 0.05x + $75 = $2150.07x = $140x = $2000
Therefore, Eva invested $2000 at 2% and $3500 at 5%.Hence, Eva invested $2000 at 2% and $3500 at 5%.
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Both assets D and E plot on the SML. Asset D has a beta of 0.4 and an expected return of 6.8%. Asset E has a beta of 1.65 and an expected return of 14.3%. The risk- free rate is 4.4% and the expected return on the market portfolio is 11%. If you wish to hold a portfolio consisting of assets D and E, and have a portfolio beta equal to 1.0, what proportion of the portfolio must be in asset E? 0.48 0.50 0.54 0.52
Answers
To hold a portfolio consisting of assets D and E, and have a portfolio beta equal to 1.0, approximately 52% of the portfolio must be allocated to asset E.
The portfolio beta is determined by the weighted average of the individual asset betas, where the weights represent the proportion of the portfolio invested in each asset. To calculate the proportion of the portfolio that must be allocated to asset E, we can use the following formula:
Portfolio Beta = (Proportion of Asset D) × Beta of Asset D + (Proportion of Asset E) × Beta of Asset E
Given that the portfolio beta should be 1.0 and the betas and expected returns of assets D and E, we can set up the equation as follows:
1.0 = (1 - Proportion of Asset E) × 0.4 + (Proportion of Asset E) × 1.65
Simplifying the equation, we can solve for the proportion of the portfolio allocated to asset E:
0.6 = (Proportion of Asset E) × 1.25
Proportion of Asset E = \(\frac{0.6}{1.25}\) = 0.48
Therefore, to achieve a portfolio beta of 1.0, approximately 52% of the portfolio must be allocated to asset E (1 - 0.48 = 0.52). Thus, the answer is 0.52.
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______ refers to the amount of effort that we invest in an activity.
Answers
The term that refers to the amount of effort that we invest in an activity is called "motivation."
Motivation is a psychological concept that encompasses the internal and external factors that drive and energize our behavior towards achieving a goal or engaging in a specific activity. It is the force that initiates, guides, and sustains our actions and determines the level of effort we put into achieving desired outcomes. Motivation can vary across individuals and can be influenced by various factors such as personal goals, values, needs, expectations, and external rewards or consequences.
Motivation plays a crucial role in determining the level of engagement, persistence, and performance in tasks or activities. When individuals are motivated, they exhibit higher levels of effort, focus, and dedication towards accomplishing their objectives. Conversely, a lack of motivation can result in decreased enthusiasm, reduced effort, and lower performance levels. Therefore, understanding and cultivating motivation is important in various domains of life, including education, work, sports, and personal development, as it impacts the quality and outcomes of our endeavors.
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Marginal utility is more useful than total utility in consumer decision making because
A.
it is possible to measure marginal utility but not total utility.
B.
consumers maximize utility by equalizing marginal utility from each good.
C.
optimal decisions are made by consuming until marginal utility becomes negative.
D.
consumers maximize utility by maximizing marginal utility from each good.
E.
optimal decisions are made at the margin.
Answers
Marginal utility is more useful than total utility in consumer decision making because optimal decisions are made at the margin (option E).
This is because consumers make decisions based on the additional satisfaction they receive from consuming one more unit of a good or service (marginal utility) rather than the total satisfaction they receive from consuming all units (total utility).
By comparing the marginal utility of different goods, consumers can determine how to allocate their limited resources to maximize their overall satisfaction. In this process, consumers will equalize the marginal utility per dollar spent on each good, ensuring that they get the most value out of their budget. The correct option is e.
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What is the term for the relationship between printer and paper?
Answers
Answer: an analogy i think printer is to paper as is pen is to ink
Explanation: one depends on the other
Did You Know? International Business Can Help Topple GovernmentsThis activity is important because as a manager, it is important to recognize the need to incorporate ethical considerations into decision making. The ability to understand that while something may be legal, it may not be ethically appropriate, is an important skill for international managers.The goal of this activity is to demonstrate your understanding of ethics and international business and the dilemmas managers face as they make decisions in other countries. Identifying the ethical and responsible course of action in a complex situation where a decision that benefits some stakeholders may harm others is a challenging task for the task for the international manager.TRICRIPEDescription 1Background music plays throughout.Title screen: Two questions appear. Narrator, Charles Hill, is in the top left corner. McGraw Hill Education logo appears in bottom left.Audio 1Charles: "Did you know that international business can help topple governments that violate human rights?"Description 2Title screen transitions to Charles, who is standing with his hands crossed in front of his chest.Audio 2Charles: "We know this is true because we have seen it in action."Description 3A montage of slums in South Africa, a woman and small child walking in a slum area beside a ditch with water in it, a sign barring black access to a beach, a building with segregated entrances. Screen transitions back to Charles.Audio 3Charles: "For much of the twentieth century South Africa was an apartheid state. The country was ruled by a white minority government that denied basic political rights to the African and mixed-race people that made up the majority of the country’s population. The government mandated segregation between whites and nonwhites, reserved certain occupations exclusively for whites, and prohibited black people from being placed in positions where they would manage whites." Despite the odious nature of this system, Western businesses had long operated in South Africa, supporting both the economy and by extension, white minority rule."Description 5A montage of South African apartheid march, a protest outside Barclays bank.Audio 5Charles: "By the 1980s, however, many Western businesses were questioning the ethics of propping up an apartheid system that violated basic human rights, and they started to pull out of the country en masse."Description 6Charles reappears. Screen transitions to Nelson Mandela and a pile of South African money.Audio 6Charles: "These actions helped to create an economic crisis in South Africa which led to the collapse of the apartheid system in 1994, and the election of Nelson Mandela, the nation’s first black President."Description 7Charles reappears.Audio 7Charles: "Businesses do have the power to help change things for the better."Description 8Source: R. K. Massie, Loosing the Bonds: The United States and South Africa in the Apartheid Years (New York: Doubleday, 1997).Video has ended.4c. The apartheid government in South Africa mandated segregation…The apartheid government in South Africa mandated segregation between whites and nonwhites and prohibited Black people from being placed in positions where they would manage whites. The approach to business ethics that would encourage Western businesses to question the ethics of continuing to operate within this environment isMultiple ChoiceA. justice theories.B. Utilitarian ethics.C. the Friedman Doctrine.D. rights theories.E. Kantian ethics.4.D The decision by many Western businesses to pull out of South Africa in protest of the country’s apartheid government contributed to the economic crisis that ultimately led to the collapse of the apartheid system. The local communities and customers that were negatively impacted by the decisions of the Western businesses can best be described asMultiple ChoiceA. internal stakeholders.B. ex
Answers
The local populations and clients who suffered as a result of the choices made by the Western companies are best characterized as being complicit. The answer is option (e).
What is a being complicit?The choice of many Western companies to leave the South. Many Western corporations chose to leave South Africa in opposition to the country's apartheid government, which added to the economic crisis that eventually resulted in the fall of the apartheid system.
Due to the negative effects on local communities and clients, Western businesses tend to make more complicit choices. Alcohol causes the economic catastrophe that destroys the apartheid government's ability to function. The response is predicated on my previous experience, analysis, and study of the aforementioned subject. I provided a complete and best-efforts response.
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Options for the given question is,
a). external stakeholders.
b). victims of cultural relativism.
c). internal stakeholders.
d). victims of utilitarianism.
e). being complicit
You work for Greene-Mann Landscaping Company. A prospective client sends you the e-mail
below:
I would like to plant a tree in my backyard. We like to eat outside, and in the summer, the hot sun
burns down on our deck at dinnertime. I would like a tree that will be quick and easy to grow.
Based on the document shown, what would you recommend for this client?
A. An evergreen tree planted on the windy side of the house
B. An evergreen tree planted on the south side of the house
C. A deciduous tree planted on the windy side of the house
D. A deciduous tree planted on the south side of the house
E. A deciduous tree planted on the west side of the house
Answers
Answer:
The answer for this is E.
Based on the document shown, A deciduous tree planted on the west side of the house is recommended. Option E is an appropriate response.
What is a deciduous tree?At the end of the growing season, deciduous trees shed their broad, flat leaves. It differs from most evergreen trees (which typically retain needle foliage throughout the seasons) and coniferous trees (usually evergreens that produce cones). There are, however, deciduous conifer trees like golden larch and dawn redwood. You can also tell if a tree is deciduous by its round shape, as opposed to an evergreen's upside-down cone shape.
During the hotter months, deciduous trees provide shade and block heat from the sun, and by dropping their leaves in the fall, they admit sunlight during the colder months.
Hence, option E is an appropriate response.
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Beau borrows $15,000 from credit center to buy a car. The lender assigns the right to receive the loan payments to debt collections inc. If beau does not pay the debt, the assignee can.
Answers
The correct option is A. If Beau does not pay the debt, the assignee can enforce the payment in court.
An obligation to pay money or another agreed-upon value to a third party, the creditor, is known as a debt. Debt differs from an recent purchase in that payments are deferred or made in instalments. A sovereign state or nation, a local government, a business, or an individual may be liable for the debt. Contractual provisions governing the sum and schedule of principle and interest repayments often apply to commercial debt. Debt includes mortgages, bonds, notes, and loans. In contrast to equity, financial transactions are classified as either debt or equity in financial accounting.
Beau borrows $15,000 from Credit Center to buy a car. The lender assigns the right to receive the loan payments to Debt Collections Inc. If Beau does not pay the debt, the assignee can
A. enforce the payment in court.
B. demand performance of the deal from any of the original parties.
C. extinguish the contract rights of the assignor.
D. none of the choices.
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Dave bought a new car 8 years ago for $8400. To buy a new car comparably equipped now would cost $12,500. Assuming a steady rate of increase, what was the yearly rate of inflation in car prices over the 8 year period?
Answers
The yearly rate of inflation in car prices over the 8 years that Dave bought his new car for $8,400 is 5.1%.
What is inflation?Inflation is the general increase in prices of goods and services in an economy which reduces the purchasing power of the consumers.
Based on the given information, the yearly increase in the inflation rate can be computed using the present value formula from an online finance calculator as below.
Data and Calculations:N (# of periods) = 8 years
I/Y (Interest per year) = 5.1%
PMT (Periodic Payment) = $0
FV (Future Value) = $12,500
Results:
PV = 8,396.31 or $8,400
Total Interest $4,477.49
Thus, the yearly rate of inflation in car prices over the 8 years that Dave bought his new car for $8,400 is 5.1%.
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The purpose of _____ is to set goals and decide on the courses of action that will be used to achieve them.
Answers
Answer:
Planning
Explanation:
I think is the answer lmk if its wrong:)
Answer:
Planning
Explanation:
In 2020, Amanda set up Coverdell education savings accounts for each of her four grandchildren, aged 7, 9, 14, and 16. She would like to contribute the annual maximum to each savings account when she usually makes other annual-election gifts every year on December 31. The annual maximum for 2020 is $2,000. How much can she contribute in total to the Coverdell education savings accounts in 2020 and each of the next four years
Answers
Answer:
The answer is "$32,000"
Explanation:
Coverdell mutual funds must be paid until the beneficiaries are 18 years old. The 16-year-old would be only eligible for two-year contributions (aged 16 and 17). The 14- year old is eligible for the four years' payment (age 14, 15, 16, 17). In five years, it would therefore be a total of $32,000 in the following:
\(7\ year-old (5 \times \$2,000) = \$10,000\\\\9\ year-old (5 \times \$2,000) = \$10,000\\\\14\ year-old (4 \times \$2,000) = \$ 8,000\\\\16\ year-old (2 \times \$2,000) = \$ 4,000\)
Total \(= \$10,000+\$10,000+ \$8,000+\$4,000=\$32,000\)
a certified public accountant (cpa) has found that nine of ten company audits contain substantial errors. if the cpa audits a series of company accounts, what is the probability that the first account containing substantial errors
Answers
The probability that the first account audited by a Certified Public Accountant (CPA) will contain substantial errors is 90% (9 out of 10 accounts contain substantial errors).
The probability that the first account containing substantial errors is 9/10 or 0.9. This is because a certified public accountant (CPA) has found that nine of ten company audits contain substantial errors. Therefore, the probability of the first account containing substantial errors is the same as the probability of any account containing substantial errors, which is 9/10 or 0.9.
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PLEASE HELP!!1
Describe the concept of economics of scale. How does it relate to productivity?
Answers
Answer:
the phenomenon where the average costs per unit of output decrease with the increase in the scale or magnitude of the output being produced by a firm.
Explanation:
What is a plan for how much to spend and how much to save of ones earnings called?
A. a wish list
B. a personal budget
C. a saving account
D. an investment portfolio
Answers
Using the data, calculate the percentage change in quantity demanded following a £3 increase in the price
of salt pipes. You are advised to show your working,
Answers
Answer:
idk sry
Explanation:
Which of the following transactions is not a financing activity of ABC Company? A. Purchased 500 shares of stock of XYZ Corporation. B. Sold 1,000 shares of treasury stock. C. Borrowed $50,000 from First American Bank. D. Paid dividends of $8,000.
Answers
Out of the four options provided, option A and B are related to investing activities, option C is related to financing activity, and option D is related to operating activity.
Therefore, the transaction that is not a financing activity of ABC Company is option A, which is the purchase of 500 shares of stock of XYZ Corporation. This is because purchasing shares of another company is considered an investing activity, as it involves the acquisition of assets that are expected to generate returns in the future. Financing activities typically involve raising or repaying funds from creditors or investors, such as borrowing money or issuing stock. Option B, the sale of treasury stock, could also be classified as a financing activity, as it involves the issuance of equity to raise capital for the company.
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Please help I'm about to fail my class and i will be grounded for life, 100 pts for it! its financial literacy
Part One–Research
Imagine you bought 100 shares of stock three years ago and are selling it today. Select a company and research its stock prices. You can start with websites like Nasdaq and Fidelity. Determine the stock's price three years ago, or the purchase price, and its price today, or the selling price.
Part Two–Determine the Real Return
Calculate the real return of your stock investment using the following information:
Purchase price of 100 shares of stock
Selling price of 100 shares of stock
10% tax rate
3% inflation rate
2% administrative fee on the selling price of the stock
Part Three–Evaluate
Analyze your research and calculations, and answer the following questions:
What company did you select to buy stock in? Why did you select the company?
Consider the real return of the stock investment. Do you consider it a wise investment? Why or why not?
Answers
1. I imagine buying 100 shares of Amazon.com Inc. on January 3, 2020, when the stock price was $93.75, investing $9,375.
Today, October 31, 2022, the stock price of Amazon.com Inc. is $102.44.
2. The real return on my investment in Amazon.com Inc was a net loss of 7.12% or $667.60.
3. The company I selected to buy its stock three years ago was Amazon.com Inc.
4. I decided on Amazon.com Inc., hoping to earn spectacular returns since it is a multinational technology company.
5. When I consider the actual return on the stock investment in Amazon.com Inc., I think it was an unwise investment.
6. The investment returned a negative real value because I realized less than I initially invested; I actually lost about $667.60 overall.
What is the stock investment?Stock investment is the purchase of shares for an ownership interest in a publicly-listed company.
The investor makes the investment with the hope that the investee will grow and perform well over some period, enabling the investor to earn some real returns (in the form of dividends and capital appreciation).
Purchase of 100 shares Jan. 3, 2020 = $9,375 (100 x $93.75)
Sales of 100 shares Oct. 31, 2022 = $10,244 (100 x $102.44)
Tax (10%) = $1,024.40 ($10,244 x 10%)
Inflation (3%) = $307.32 ($10,244 x 3%)
Administration fee on sales (2%) = $204.88 ($10,244 x 2%)
Real Returns in dollars = $8,707.40 ($10,244 - $1,024.40 - $307.32 - $204.88)
Loss on returns = $667.60 ($8,707.40 - $9,375)
Loss percentage = 7.12% ($667.60/$9,375 x 100)
Unfortunately, Amazon.com Inc. did not pay any dividends during the period of my investment, and I really lost funds to taxes, inflation, and administration fees when I sold it.
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explain advertisement
Answers
Answer: Advertisement is a marketing communication. It is used to promote businesses and their products. Used to promote more effectiveness in a businesses profit and their sales. May be seen in the form of commercials or billboard announcements in everyday life.
You charge $298.95 on a credit the card has an annual percentage rate of 18% how long will it take to re-pay your debts if you make monthly payments of $6.75 and what is the total amount of interest you will pay
Answers
The following information has been taken from the job order cost system, used by SALEEM CORPORATION:
Job No.
Balance March 1
Production Cost in March
15
Rs. 150,000
---
16
170,000
---
17
50,000
Rs. 130,000
18
70,000
150,000
19
----
240,000
20
----
150,000
21
----
90,000
During March Job No. 17, 18 & 19 were completed, and job No. 15, 16 and 17 were sold on account at 40% above cost.
REQUIRED:
i) Cost of finished goods inventory – beginning
ii) Cost of goods in process inventory – beginning
iii) Cost of finished goods inventory – ending
iv) Cost of goods in process inventory – ending
v) Cost of goods manufactured
vi) Cost of Goods sold
vii) Sales
Answers
Answer:
i) Details Amount Rs
Cost of Job No.15 150,000
Cost of Job No.16 170,000
Cost of finished goods inventory - beginning 320,000
ii) Details Amount Rs
Cost of Job No.17 50,000
Cost of Job No.18 70,000
Cost of goods in process inventory - beginning 120,000
iii) Details Amount Rs
Cost of Job No.18 220,000 (70000+150000)
Cost of Job No.19 240,000
Cost of finished goods inventory - ending 460,000
iv) Amount Rs
Cost of Job No.20 150,000
Cost of Job No.21 90,000
Cost of goods in process inventory - ending 240,000
v) Amount Rs
Total Production Cost incurred in March 760,000
(130000+150000+240000+150000+90000)
Add: Cost of goods in process inventory - beginning 120,000
Less: Cost of goods in process inventory - ending 240,000
Cost of goods manufactured 640,000
vi) Amount Rs
Cost of goods manufactured 640,000
Add: Cost of finished goods inventory - beginning 320,000
Less: Cost of finished goods inventory - ending 460,000
Cost of Goods sold 500,000
vii) Sales = Cost of goods sold * 140%
Sales = 500000*140%
Sales = Rs. 700,000
Which statement is true for a short-term goal?
A.
It is usually complex.
B.
It usually requires one to exert a lot of effort.
C.
It is usually related to the bigger things that you want to achieve.
D.
It usually takes less than a year to achieve.
Answers
Answer:
I would say D because it sounds more reasonable for me
which part of our body is affected by plogue pose?
Answers
Answer:
spine and shoulders are affected
The spine and the shoulders of our body part are mostly affectd by the plogue pose. It stretches our body muscles.
Plow PoseIt is a stretching exercise which keeps your body fit and flexible.
Doing stretching exercise regularly benefits the body mucles and tendons.
The plow pose is a stretching exercise where one positions his/her body upside down and keeps their feet bend over the head.
This pose affects our spine and also our shoulders.
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What is added to the price of goods and services at the time of purchase?
Answers
Answer:
VAT
Value Added Tax
______________'_''
At what age can you start working?
Answers
Answer:
Explanation:
depends on where you live
Explanation:
It really depends on the jobs and requirements but you can USUALLY do small work like walking a dog or babysitting at 13-14
Suggest a promotional campaign for a FMCG (fast-moving consumer
goods) which is on the threshold of the maturity stage of life
cycle.
Answers
Promotional campaigns for FMCG (Fast-moving consumer goods) can help brands boost sales and remain competitive, particularly as their products enter the maturity stage of the product life cycle.
To suggest a promotional campaign for an FMCG brand, it's essential to understand what happens at the maturity stage of the product life cycle, and how promotional campaigns can be effective during this time.
At the maturity stage of the life cycle, sales growth slows, and the product begins to approach market saturation. It is the ideal time to implement promotional activities to encourage repeat purchases and maintain consumer interest.
A promotional campaign can help an FMCG brand to engage with customers and reinvigorate sales. Here are some promotional campaign suggestions for an FMCG brand at the maturity stage of its life cycle:
1. Offer discounts and deals: Provide discounts to customers who purchase a specific quantity of the product.
2. Bundle sales: Bundle sales are a great way to offer customers a selection of your products at a discount. For instance, "Buy three of our products, and get one free."
3. Free samples: Give away free samples of your product to encourage trial and repeat purchase.
4. Social media promotion: Social media platforms offer a great opportunity for FMCG brands to create a buzz and generate consumer interest.
5. Loyalty programs: Offer rewards or discounts to customers who make repeat purchases of the product.
6. Influencer partnerships: Partner with social media influencers to create buzz around the product and increase brand awareness.
7. Cross-promotion: Partner with another brand that offers complementary products to cross-promote and increase sales.
FMCG brands in the maturity stage of the product life cycle can use these promotional campaigns to attract new customers, retain current customers, and build brand loyalty.
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Can Some people give me brainliest I'll give ya'll all my points when I see it
Answers
Answer:
Explanation: why u delete all your questions that u answered for me?
a backward-bending labor supply curve occurs when: the substitution effect of a wage increase equals the income effect. the income effect of a wage increase is greater than the substitution effect. a negatively sloped labor supply curve is not possible. the substitution effect of a wage increase is greater than the income effect.
Answers
A backward-bending labor supply curve occurs when the income effect of a wage increase is greater than the substitution effect. So the correct option is b.
The labor supply curve shows the number of laborers that are happy and willing to work at a specific compensation, while the labor demand is the number of laborers that organizations are eager and willing to employ at a specific wage rate.
The backward-bending supply curve happens when the income effect is higher than the substitution effect since more pay in the hand of workers urges them to spend it on relaxation i.e. leisure as opposed to work so a rise in pay prompts workers to work less and recreation more so income effect, for this situation, will be higher than the substitution effects. When the income effect is greater than the substitution effect, labor supplied decreases with an increase in wages.
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find the sales tax on a purchase of $18.95 if the tax rate is 6%. responses $1.85 $1.85 $1.92 $1.92 $3.25 $3.25 $1.14
Answers
The sales tax on a purchase of $18.95 if the tax rate is 6% is $1.14
Define sales tax.The consumer can usually be asked to pay the tax at the time of purchase under most legal provisions. Typically referred to as a use tax, this tax is imposed on goods or services and is paid by the consumer directly to the government. Food, education, and medicine are just a few examples of the goods and services that are frequently exempt from sales and use tax. Sales taxes are related to value-added taxes (VAT) that are levied on goods and services.
Given:
$18.95 = 100 percent
$x? =6 percent
rule of three
$18.95 = 100%
$x? =6%
18.95 / 100 = x / 6
x = (18.95 × 6)/100
x = 113.7/100
x = 11.37 = 11.34
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