Using social media, and e-business to improve my small business is a very good idea, since most people use some sort of a social media daily. I could make my own website, or have my own “Facebook Page” because most people use Facebook more than any other social media. I could measure and know how many people on Facebook are interested in cake decorating, and by that I could communicate more with my customers to know their preferences and their opinions, and what products they prefer, so I can improve
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America has become one of the busiest countries in the world. Each year families are spending less time together; which means that more families are relying on eating out but more on microwaveable foods. Considering the increase in the disposable income, more people are able to afford better lifestyle. However, there has been a change in the styles of cooking in the current markets. With microwaveable food being so popular, the focus is now on how can we make these products healthier. So manufacturers
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The purpose of business activity: People have unlimited wants + Limited Resources = Scarcity The cause of shortage or scarcity of goods and services is that there are not enough factors of production. The four factors of production are: * Land- This is the term used to cover all the natural resources provided by nature e.g. Forests, oil, Gas, metals… * Labour- the No. of people that make the product or produce the service. * Capital- the Finance inputted in a business * Enterprise-
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Question (a) Every firm goal to maximize its profit. Profit is equal to total revenue (TR) minus total cost (TC), the left over money is called profit. So, the higher the profit, the more the money a company has. Diagram 1 “Based on the Diagram 1 above, the quantity they should produce at the point where marginal revenue equal to marginal cost, to help the company get the profit-maximizing, which also known as normal profit.” (Riley, 2015). Meanwhile, the revenue from selling is equal to the
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Question 1 of 30 Score: 8 (of possible 8 points) Bill Bonecrusher graduates from college with a choice of playing professional football at $2 million a year or coaching for $50,000 a year. He decides to play football, but eight years later he quits football to make movies for $3 million a year. His opportunity cost at graduation was _________ and eight years later was _________. | A. | $2 million; $2 million | | B. | $50,000; $2 million | | C. | $50,000; $50,000 | | D. | $2
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Elasticity Paper: Substitute Products vs. Complement Products Annette Nunnally, Bobby Whitfield, Dwayne Brown, Reginald Lockhart ECO 365 Principles of Microeconomics February 24, 2015 Mr. Rick Pretzsch Elasticity Paper: Substitute Products vs. Complement Products Products or services are introduced into the market with the intention of fulfilling the desires or needs of a specific group. Most of the products need another product to function properly. The use of a printer requires an ink cartridge
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[pic] In Partial Fulfillment of BUS 4050 Management Information Systems（3） Home Assignment Two Submitted to Dr. Uchenna EZE From: Major：Management of Human Resource ID Number：1231500046 Name：Yang Jingmiao/Jasmine Date: 2015/04/16 Management Decision Problem: P145 Macy’s Inc. new strategy is to tailor merchandise more to local tastes. From this aspect, Macy’s management can make use of information system to achieve its strategy since information technology plays a
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SUPPLY CHAIN NOTES CLASS 3 JAN 20 2016 ANSWER: B ANSWER: D ANSWER: C ANSWER: B ANSWER: A ANSWER: WE HAVE INCREASED DELIVERY TO STORES, COST ARE LIKELY TO HAVE GONE UP AND CUSTOMER SERVICE LEVELS UP. D. ANSWER: C ANSWER: E ANSWER: D ANSWER: A Answer: C Answer: D Raw materials purchased represents: well over 50% of sales for most major manufacturers. Answer: C Answer: D Total cost of ownership Bull Whip Effect: lack of synchronization among supply chain members
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Name: Vijay Srivastav Subject: Econ 202 Class: Summer 2016 Section: SF1 Instructor: Dr. William D. Hermann Date: 06/27/2016 I. 1. The United States and Mexico have sign NAFTA along with Canada in the year 1994, which allowed all the three-nation to demolish trade barriers among them. Mexico is a developing nation, a developing nation faces major challenges in the form of lack of infrastructure, lack of investment and lower living standards. Whereas, The USA, is a developed nation and always
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Strayer University Assignment 2: Operations Decisions Submitted by: Name ECO 550 Dr. Lundondo Mumeka Date: 14 Aug 2014 Today, life has become very fast. In today’s fast living world, the value of time has increased a lot. Most of the people are working and hardly find any time to cook for themselves. In this busy schedule, the introduction of low calorie microwavable food has lives of people much more easier. These products are easily consumable and hence have become very popular.
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