The Yasun-ITT Initiative was a novel development proposal based on the prohibition of oil production in Ecuador's Yasun National Park in exchange for international compensation, either in the form of direct payment or payment for environmental services. My goal is to investigate how different actors in Ecuador, an oil-dependent country, perceive this compensation for non-oil production. I critically engage the 'environmental narrative' surrounding the Initiative inspired by sumak kawsay -a philosophy of life based on non-mercantilist values known as "well living" in English or "buen vivir" in Spanish- and degrowth by conducting a chronological review of the Initiative and forty in-depth interviews with key players. In this article, I argue that viewing the Initiative as an environmental issue rather than a problem of oil rent dependency exemplifies the limitations of sumak kawsay and degrowth as alternatives to development. The Yasun results show that the Initiative ended up reproducing nature valuation fictions rather than de-linking nature from the valuation process. Using a critical political economic framework, this paper demonstrates that concepts like "dependency" and "rent" are critical in understanding the challenges of transitioning away from extraction-based development in developing countries. In summary, Yasun was a "lost" opportunity for a bottom-up debate on what to produce and what not by failing to distinguish between payment for non-production of oil and compensation from environmental services.
What exactly does compensation mean?
The act or state of compensating, as in paying someone for service or compensating for someone's misfortune, damage, or injury by providing an appropriate benefit to the injured party the condition of being reimbursed or rewarded in this manner
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ivan, a russian fisherman, needs a permit to fish and sell a certain type of fish, the yellow perch. select the term that best fits the scenario. quota price ceiling black market license price floor
Ivan, a Russian fisherman, needs a permit to fish and sell a certain type of fish, the yellow perch is a market license.
License approach permission to do something, mainly formal permission from a central authority or other authority. The phrase frequently refers back to the proof of that permission, including a card or certificate.
A license is reputable permission or permits to do, use, or personal something. A license is granted by using a celebration to some other birthday party as a detail of a settlement among the one's parties. within the case of a license issued by a government, the license is acquired through applying for it.
In American English, the noun is spelled the same as the verb—license. however, in British English, the noun is spelled license. all the while, that means stays the same—permission, a allow a document that states you are certified or allowed to do something.
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Write a function called price_range that accepts a list of floating-point numbers representing prices as an argument and returns the the difference between the highest price and the lowest price. Do not use the built-in functions max or min in your solution. Assume that all prices are positive values and that none of them exceed 10,000. 0.
A function called def price range accepts a list of floating-point numbers representing prices as an argument and returns the difference between the highest price and the lowest price.
What is the price range?The range of a security or index over a specific time period is the difference between its low and high prices. The range is the distinction between the highest and lowest trading prices during a specific time frame, such as a day, month, or year. For a particular trading period, a candlestick or bar's high and low points are used to indicate the range on charts.
Ranges are closely monitored by technical analysts because they are helpful in identifying trade entry and exit locations. A range spanning many trading sessions is commonly referred to as a price range or trading range by investors and traders. Many market participants trying to implement range-bound trading methods may impact securities that move inside a defined range.
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an investor who executes a short sale in her margin account is required to meet the regulation t requirement based on the
An investor who executes a short sale in her margin account is required to meet the regulation t requirement based on the Federal Reserve Board. Regulation T, the Federal Reserve Board requires all short sale accounts to have 150% of the value of the short sale at the time the sale is initiated.
What is a short sale?"Short selling consists essentially of selling stocks that are borrowed and not owned, there are strict margin requirements."
What is Regulation T?"Regulation T is a collection of provisions that govern investors' cash accounts and the amount of credit that brokerage firms and dealers may extend to customers for the purchase of securities." Reg T, was established by the Board of Governors of the Federal Reserve System.
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Anika wants her email messages to emphasize her credibility. What should she be most certain to do?.
Anika should confirm she has included all necessary information within the email message to emphasize her credibility.
To build the credibility within the email an individual should emphasize on the certain points.
Be Authentic.An email is that the time to indicate who you're as a brand, so don’t underestimate the flexibility to face out. It’s important to form sure you're building your reputation as a reputable source, by being accountable and faithful your brand.
Give Them What they requireOnce you've got an inspiration of who you're and what your audience wants, it’s time to make an excellent email strategy. By keeping certain things in mind someone can emphasize on his credibility.
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Suppose a decrease in the supply of bottled water results in a decrease in revenue. This indicates that.
A decrease in the supply of bottled water results in a decrease in revenues. This indicates that the demand for bottled water is price elastic in the price range considered.
The quantity supplied is the amount of a product that a company intends to sell at a specific price.
The relationship between the percentage change in a product's quantity demanded and the percentage change in price is known as price elasticity of demand. It helps economists comprehend how supply and demand shift in response to changes in a product's price.
Basic economic theory states that when a good's price grows, so will it's supply. In contrast, when a good's price drops, so do its supply and revenue.
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kim is the owner of a local sporting goods store and has paid major league baseball a fee to sell their products. this is an example of .
Answer:licensing
Explanation:
Suppose japanese-based toshiba corporation builds and operates a new computer factory in the united states. Future production from such an investment will.
Assume the Japanese-based Toshiba Corporation constructs and operates a new computer manufacturing facility in the United States. Future output from this kind of investment will boost US GDP more than it will boost US GNP.
GDP is the total value of all finished/final goods and services produced in a country over a given time period.
GDP is calculated as the sum of investment, government spending, consumption, and net exports.
GNP equals GDP plus net factor income generated abroad.
Because of the investment made by a Japanese company, capital formation and output will increase (GDP). However, if the Japanese business returns profits to Japanese shareholders, this profit outflow is deducted from GNP. As a result, the rise in GNP will be less than that in GDP.
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s the idea that people make choices to maximize the overall benefit - or utility - of an action subject to its cost. (use one word to answer.)
the idea that people make choices to maximize the overall benefit - or utility - of an action subject to its cost is optimization.
What is optimization?
Business optimization is the process of raising an organization's effectiveness, productivity, and efficiency. This is true for both internal processes and external goods.
Therefore,
the idea that people make choices to maximize the overall benefit - or utility - of an action subject to its cost is optimization.
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Economics is a branch of economics that focuses on measuring the well-being of market participants and how changes in the market affect their well-being.
Economics is a branch of economics that focuses on assessing market participants' well-being and how market changes affect it is known as welfare economics.
Economics is a social science discipline that studies the production, distribution, and consumption of goods and services as well as the resource allocation choices that individuals, businesses, governments, and nations make.
The study of how the distribution of resources and products impacts societal well-being is known as welfare economics. This is closely related to the study of income distribution and economic efficiency, as well as how these two elements impact the general welfare of individuals in the economy.
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a student will decide to attend class when multiple choice there is an attendance policy. the marginal cost is low. the marginal benefit of attending exceeds the marginal cost of attending. the marginal benefit is positive.
A student will decide to attend class when multiple choice-
-there is an attendance policy.
-the marginal cost is low.
-the marginal benefit of attending exceeds
-the marginal cost of attending.
-the marginal benefit is positive.
When attending class has a marginal advantage that outweighs its marginal cost, a student will choose to do so.
What Is a Marginal Advantage?
The most a consumer will spend on an additional commodity or service is known as the marginal benefit. When a consumer purchases an additional good or service, it also includes the increased satisfaction or utility they will experience. With increased consumption of the commodity or service, the marginal benefit to the consumer tends to decline.
The term "marginal revenue" is frequently used in the business world to refer to the marginal advantage for producers.
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select all of the following contemporary work situations that show scientific management at work. more than one answer may be correct.
Contemporary work situations that show scientific management at work are
Warehouse packers are having a difficult time managing the piles of items that the robots are picking off the shelves. Managers adjust the robots’ speed to coordinate with the humans’ speed. Warehouse packers are having a difficult time managing the piles of items that the robots are picking off the shelves. Managers adjust the robots’ speed to coordinate with the humans’ speed.Junior high school teachers work in teams of two: one newer teacher and one seasoned teacher. The principal and assistant principal assign the teams and hold staff training throughout the year. Junior high school teachers work in teams of two: one newer teacher and one seasoned teacher. The principal and assistant principal assign the teams and hold staff training throughout the year.Print shop owners Wendy and LaShawn had high employee turnover last year. They know how to set a consistent set of standards for all employees and model that standard themselves.This is further explained below.
What is scientific management?Generally, Federick W. Taylor was the first to promote scientific management, sometimes referred to as Taylorism.
In conclusion, Therefore Options A B D are scientific management at work.
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Complete Question
Select all of the following contemporary work situations that show scientific management at work. More than one answer may be correct.
Check All That Apply
A. Warehouse packers are having a difficult time managing the piles of items that the robots are picking off the shelves. Managers adjust the robots’ speed to coordinate with the humans’ speed. Warehouse packers are having a difficult time managing the piles of items that the robots are picking off the shelves. Managers adjust the robots’ speed to coordinate with the humans’ speed.
B. Junior high school teachers work in teams of two: one newer teacher and one seasoned teacher. The principal and assistant principal assign the teams and hold staff trainings throughout the year.Junior high school teachers work in teams of two: one newer teacher and one seasoned teacher. The principal and assistant principal assign the teams and hold staff trainings throughout the year.
C. Instead of relying on “old hands,” a political campaign director recruits from groups who are very enthusiastic about the candidate’s ideas. The director sees training as a way to shape energy into action.Instead of relying on “old hands,” a political campaign director recruits from groups who are very enthusiastic about the candidate’s ideas. The director sees training as a way to shape energy into action.
D. Print shop owners Wendy and LaShawn had high employee turnover last year. They know now to set a consistent set of standards for all employees and model that standard themselves.
the first part of setting strategic direction for an organization is to analyze the external and internal
According to the definition provided, a vision statement is an inspiring long-term desired change that results from an organization's work.
A vision statement is:A vision statement describes the idealistic, emotional future of a business or group in an inspiring manner. The founder's intention for the people with whom the organization interacts is referred to as their vision, which is a fundamental human emotion. The group is grounded as a result, and this enables them to have some real influence on the world.
A good vision statement is:Common elements of effective vision statements include: The present tense is used, not the future tense. As if we had already attained our vision, they describe how we will feel, listen, think, say, and act. A strong phrase serves as a summary.
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I understand that the question you are looking for is:
The first part of setting strategic direction for an organization is to analyze the external and internal environments by preparing a SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis. Once the SWOT is complete, the next step is to create a clear and compelling statement describing the inspirational long-term desired change resulting from an organization's work, called a __________.
How often should a company develop and refine the operations and supply chain strategy?.
A the company should develop and refine the operations and supply chain strategy at least yearly
This is further explained below.
What is supply chain strategy?Generally, A supply chain plan is analogous to a road map in that it assists businesses in delivering their goods to end users with the least amount of difficulty feasible.
This plan guarantees that every aspect of the supply chain, including the procurement of materials, production, distribution, and logistics, is optimized.
This includes all of the phases in which the plan is implemented.
In conclusion, At the very least once every year, a business should design and perfect a plan for its operations and supply chain.
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which method is being used when market researchers call consumers on the telephone to ask about certain products used in the home?
Interview is a process.
How do interviews work?
A qualitative research technique known as an interview relies on the collection of data through the use of questions. Two or more persons participate in interviews, one of them is the interviewer who asks the questions.
There are various interview kinds, which are frequently distinguished by their degree of structure. In structured interviews, questions are asked in a prearranged sequence. Semi-structured interviews occur somewhere in between unstructured interviews and free-form interviews.
Market research, social science research, and ethnographic research all frequently involve interviews.
Interviews are a type of data collection used in social research where two or more persons exchange information through a sequence of questions and answers.
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adam’s plumbing is a louisiana corporation having its registered office in winn parish. owner lives in adjacent lasalle parish and owns a camp in adjacent grant parish.
The venue would be proper in Winn Parish, the parish where AP, a domestic corporation, has its registered office. The adam’s plumbing venue would also be proper in Grant Parish where the damages occurred and where the alleged negligent repair took place, and it is also the parish where the services rendered under the contract were performed.
Caldwell Parish may be right if it's far from Bob's homestead the facts say resident, and if this is his recurring residence, it works. The nation of Louisiana calls for a journeyman or master's license to do plumbing work in Louisiana. A journeyman has to also be under the supervision of a master plumber when repairing present plumbing.
Apprentices can do plumbing paintings, however most effective with a journeyman on the web page at all times directing the work. A grasp Plumber differs from a regular plumber in large part because of their degree of understanding and the truth that they may be accepted and authorized as grasp plumbers by way of the authorities. those plumbers are greater skilled than everyday plumbers. you may find out if your contractor is certified and ensure they preserve the best license for the paintings being carried out.
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while the supply of major film stars is small and relatively fixed in the short run, the demand for the average doctor or nurse is quite large globally. by contrast, the marginal benefit of the services provided by doctors and nurses is relatively low, although the total benefit is quite high.
False, while the supply of major film stars is small and relatively fixed in the short run, the demand for the average doctor or nurse is quite large globally. By stating that the marginal benefit of services provided by doctors and nurses is considerably lower than the marginal benefit of services provided by major film stars, the diamond-water paradox is illustrated. This suggests that while there is a greater demand than there is for major film stars, there is a greater supply of doctors and nurses.
The marginal utility that major movie stars provide to moviegoers is greater than the marginal utility that patients receive from doctors and nurses. This is due to the fact that people who use the services of well-known actors and actresses are more willing to pay for them than people who use the services of physicians and nurses. Though a person's health is more important to their quality of life than movies, consumers value movies more for their utility than their health, especially once they have achieved a basic level of sound health. This actually explains the "diamond water paradox," in which consumers are willing to pay more for valuable diamonds than they are for the water that sustains life. In plain English, people are more willing to value the satisfaction they get from watching one more movie than they are from receiving more medical attention. That implies that people only give basic healthcare needs a thought.
Note that the full question is:
Movie stars such as Salma Hayek, Samuel L. Jackson, Dwayne Johnson, and Jennifer Lawrence are paid millions of dollars per movie, which can take as much as 6 months of full-time work for an actor. By contrast, doctors and nurses earn considerably less over the same time period. Why might this be? While the supply of (major film stars OR doctors and nurses) is small and relatively fixed in the short run, the demand for (the average doctor or nurse OR movies featuring these film stars) is quite large globally. By contrast, the marginal benefit of the services provided by (major film stars OR doctors and nurses) is relatively low, although the total benefit is quite high. This illustrates the diamond-water paradox. True or False
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Answer:True it does illustrate the diamond paradox
Explanation:
I answered false and got it wrong so true is the answer
john is employed in an american manufacturer of health care products and is currently working with some japanese cients
John is employed by an American manufacturer of health care products and is currently working with some Japanese clients as a cross-cultural risk.
Definition a manufacturer is a commercial enterprise or person that produces goods. The agency that makes a specific emblem of sneakers is an example of a manufacturer of footwear.
As such, synthetic goods are the alternative to number one items but encompass intermediate goods in addition to very last goods. They include steel, chemical substances, paper, textiles, equipment, garb, cars, and so on.
The USA's other top manufacturered products are prescribed drugs, airplanes, and motors. Rounding out the pinnacle 10 are iron and metallic, animal slaughtering, plastics, natural chemical compounds, and petrochemicals.
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many businesses borrow money during periods of increased business activity to finance inventory and accounts receivable. nordstrom, inc., is one of america’s most prestigious retailers. each christmas season, nordstrom builds up its inventory to meet the needs of christmas shoppers. a large portion of these christmas sales are on credit. as a result, nordstrom often collects cash from the sales several months after christmas. assume that on november 1 of this year, nordstrom borrowed $4.8 million cash from bank of america to meet short-term obligations. nordstrom signed an interest-bearing note and promised to repay the $4.8 million in six months. the annual interest rate was 8%. all interest will accrue and be paid when the note is due in six months. nordstrom’s accounting period ends december 31. required: 1. prepare the journal entry to record the note on november 1. 2. prepare any adjusting entry required at the end of the annual accounting period on december 31. 3. prepare the journal entry to record payment of the note and interest on the maturity date, april 30.
The journal entry are given below-
Cash 4,800,000
Notes Payable 4,800,000
(Obtained a short-term loan from the Bank)
Interest Expense ($4,800,000 x 8% x 2/12) 64,000
Interest Payable 64,000
(Interest expense accrued on the short-term bank loan)
Interest Expense ($4,800,000 x 8% x 4/12) 128,000
Interest Payable 64,000
Notes Payable 4,800,000
Cash 4,992,000
(Repayment of short-term bank loan along with six months interest)
Loans for a short time are those that are taken out for less time than a year. Short-term loans are typically taken out to cover a company's requirement for working capital and typically have higher interest rates.
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on 6/25, supplies costing $1,000 were purchased, but only $400 of this amount was paid on 6/25. the remainder of the bill went on account. to record this transaction on 6/25: supplies would be increased by $
If the remainder of the bill went on account. To record this transaction on 6/ 25: Supplies would be increased by $1,000; Cash would be decreased by $400; Accounts Payable would be increased by $600.
Supplies, cash, account payablea. Since supplies costing $1,000 was purchased , supplies would be increased by $1,000.
b. Cash would be decreased by $400
($1,000-$600)
c. Accounts Payable would be increased by $600
($1,000-$600)
Therefore to record this transaction on 6/ 25: Supplies would be increased by $1,000; Cash would be decreased by $400; Accounts Payable would be increased by $600.
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an appraiser encounters a small crack in a foundation slab on a house he is appraising. he discloses the crack in the appraisal report and states that he is not a structural engineer and assumes the crack is not structural in nature and does not require a repair. this is an example of the use of a(n) .
An appraiser encounters a small crack in a foundation slab on a house he is appraising. he discloses the crack in the appraisal report and states that he is not a structural engineer and assumes the crack is not structural in nature and does not require a repair. this is an example of the use of an Extraordinary assumption.
A specialist who determines an asset's market value, particularly in the real estate sector, is referred to as an appraiser. In a transaction, an appraiser is required to act independently of the buying and selling sides.
They must make an unbiased conclusion regarding the true and fair worth of an assessed asset utilizing both their own observations and any pertinent data, facts, and other information. The appraiser may give their conclusions in a written or verbal appraisal, depending on the situation.
Jewellery, artwork, diamonds, and other heirlooms are among the items that appraisers seek to assign a monetary worth to. However, the major purpose of their services is to estimate real estate values. Due to the low liquidity of assets like this, investors typically have high regard for an appraiser's work.
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The forces influencing the life and development of the firm are classified into which two categories?.
The forces that influence the life and development of the firm are classified into two categories that are internal and external.
External forces encompass political, economic, sociocultural, technological, environmental, and criminal factors. these are factors that take place outside of the enterprise however nonetheless, impact its potential to do commercial enterprise. We can prepare the external forces that have an effect on a business into the following six categories:
MonetaryLegalCompetitiveTechnologicalSocialGlobalInternal forces include traditional adjustments, management changes, and worker morale. A few examples of internal factors are financial sources like funding, funding possibilities, and assets of profits. bodily resources like the employer's place, system, and facilities. Human sources like employees, goal audiences, and volunteers.
The enterprise life cycle is the development of a business in levels over the years and is maximum commonly divided into 5 ranges: release, growth, shake-out, adulthood, and decline. Development level refers back to the first phase of the existence cycle of a new enterprise. At some stage in the improvement degree, organizations' consciousness of establishing themselves through activities along with market studies, product development, and the development of recent manufacturing centers.
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when preparing a trial balance, there are certain steps that need to be followed. place the following steps in the correct order.
Answer:i don’t know why this is right, but i’m here to help and have to have a 20 word count minimum to submit
Explanation:
who of the following provides approval for a project? key decision makers individuals with sign-off authority the project manager all stakeholders
The project manager Individual with sign-off authority. The project sponsor has ultimate support authority.
Who provides approval for a project?Who the Project Sponsor is: Usually an aged member from the business area in which the project is asked, with a deep understanding of that area's operations and strategic aims. The Project Sponsor has the administration approve budgets and resource requests within their business area.
What stakeholder is liable and accountable for the project scope?Who the project executive is: Provides project administration, confirms the demand within their area of responsibility, validates goals, goals, and resources, and is accountable for the overall delivery of the project.
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how much would be in your savings account in 9 years after depositing $160 today if the bank pays 9 percent per year
In 9 years after depositing $160, in my savings account would be $289.6
The formula for simple interest and procedure we will use to solve this exercise is:
S.I.= (P*R*T)/100
Where:
P = principalR = rate of interest in % per annumT = timeInformation about the problem:
P = $160R = 9%T = 9 yearsTotal amount = ?Applying the simple interest formula, we get:
S.I.= (P*R*T)/100
S.I.= (160* 9*9)/100
S.I.= $129.6
Calculating the total amount that would be in my savings account, we get:
Total amount = P + S.I.
Total amount = $160 + $129.6
Total amount = $289.6
What is simple interest?It is the operation in which we calculate the profit produced by a capital loaned at a given percentage.
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sanchez company's output for the current period was assigned a $200,000 standard direct materials cost. the direct materials variances included a $5,000 favorable price variance and a $3,000 unfavorable quantity variance. what is the actual total direct materials cost for the current period?
The actual total direct materials cost for the current period is $198,000. Hence, Option B is correct.
What do you mean by direct materials?Components that go into a manufactured good are known as direct materials. For instance, the direct materials used in the production of a smartphone include the screen, integrated circuits, camera modules, and buttons.
As per the given information,
Actual total direct materials cost = Standard direct materials cost + unfavorable quantity variance - favorable price variance
Actual total direct materials cost = $200,000 + $3,000 - $5,000
Actual total direct materials cost = $198,000.
Hence, The actual total direct materials cost for the current period is $198,000. Option B is correct.
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"Your question is incomplete, probably the complete question/missing part is:"
A)$208,000.
B)$198,000.
C)$202,000.
D)$192,000.
E)$205,000.
what should you do if you do not have or do not believe that you have the proper materials to safely perform your job?
Request the necessary equipment/materials from your VA supervising practitioner or the unit supervisor in your area when do not believe that you have the proper materials to safely perform your job.
What is Safely Perform?
There are risks in your working environment that you should be aware of whether you work outside, at a desk, or with powerful gear. To prevent workplace injuries, it's critical to be aware of any potential hazards in your surroundings. This article will define workplace safety, identify the people responsible for maintaining a safe work environment, and provide advice on how to stay safe at all times both on the job and off.
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Charmaine, a district manager for a global retailer, is traveling to different stores in her district to discuss with store managers how to increase profitability for the rest of the fiscal year. What is charmaine doing?.
Charmaine is doing controlling the direction of the planning/control cycle.
The managerial functions of planning and control, also referred to as production planning and control, are concerned with ascertaining two things: first, what the market's wants are; and, second, how a firm may best plan for and fulfill those demands.
Daily operations including scheduling, dispatch inspection, quality evaluation, inventory control, supply management, and equipment management all require planning. Control makes ensuring that the actions are carried out as efficiently and cost-effectively as possible.
While controls are put in place so that businesses can deal with changes when they inevitably happen, planning lays out the goals, mission, and methods for organizations to satisfy market expectations.
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arrange the steps that follow the first step in the organizational buying process in the correct order of occurrence
The Required steps are as follows
Problem identificationinformation search, assessment of options, purchase choice, post-buy evaluation makes up the five phases.This is further explained below.
What is Problem identification?Generally, The process of clearly identifying the underlying source of an issue is what is meant by "problem identification."
the process of developing a thorough issue statement that includes the impact that the problem has on the health of a population.
After a variety of possibilities have been uncovered, a methodical procedure needs to be implemented in order to evaluate those options, at which point one should go from a larger list of options to a reduced list of options, and, lastly, to an option that is favored.
The process through which a company or other organization acquires the products or services it needs to meet its objectives is known as purchasing.
Even though there are various organizations that make an effort to provide standards for the buying process, individual firms' procedures might be quite different from one another.
In conclusion,
Problem identificationinformation search, assessment of options, purchase choice, post-buy evaluation makes up the five phases.Read more about Problem identification
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a network of manufacturers and service providers that work together to convert and move goods from the raw materials stage through to the end user is the definition of.
A network of manufacturers and service providers that work together to convert and move goods from the raw materials stage through to the end user is the definition of a supply chain.
A provider is an " act or use for which a purchaser, company, or government is willing to pay." Examples include paintings completed with the aid of barbers, docs, lawyers, mechanics, banks, coverage companies, and so forth. Public offerings are people who society as a whole can pay for.
A service type is a class of related services that proportion schemas. It defines the schema attributes which can be common across a hard and fast of comparable managed resources. service sorts are profiles, or templates, that create offerings for unique times of managed sources.
carrier number approach an identifying number associated with a service such as a smartphone wide variety or a cell variety.
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If consumers view cappuccinos and lattés as substitutes, what would happen to the equilibrium price and quantity of lattés if the price of cappuccinos rises?.
If consumers view cappuccinos and lattés as substitutes, the equilibrium price and quantity would decrease if the price of cappuccinos rises.
In economics, the concept of equilibrium can be used to determine market stability. At this point, neither the buyer nor the seller wishes to deviate from their respective consumption and production points.
In economics, substitute goods are those types of goods that may be used place of one another. As a result, as the cost of a substitute good rises, so does demand for the original good, causing both the equilibrium price and quantity to rise.
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