COCO SOLUTIONS ACADEMIC STORE

Marketing - Answer The process for discovering unmet customer needs, researching potential markets, producing goods or services to satisfy targeted customers, promoting, pricing, and distributing. The organizational function and set of processes for creating, communicating and delivering value to customers, managing customer relations, advocates ideas or viewpoints and educating others. How does marketing create utility? - Answer Creates time, place, and ownership utility. Utility: abi...

Current assets / current liabilities - Answer Current Ratio Current assets - minus inventory / current liabilities - Answer Acid Test (Quick) Ratio Current assets $250 Inventory $20 Current Liabilities $100 250-20=230 230/100=2.2 $2.20 assets for every $1 in liabilities Acid Test (Quick) Ratio and Current Ratio - Answer Liquidity Ratios Inventory Turnover, Receivables Turnover, and Total Asset Turnover - Answer Activity Ratios Cost of goods sold / average inventory - A...

Accounting - Answer Process of measuring, interpreting, and communicating financial information to enable people inside and outside the firm to make informed decisions. Accounting Cycle - Answer Set of activities involved in converting information and individual transactions into financial statements. Accounting Equation/Accounting Identity - Answer Formula that states Assets must equal Liabilities plus Owners' Equity. Assets - Answer Liabilities + Owners' Equity Accrual Ac...

Which part of the organizing process aids in effective and efficient progress toward planned goals and often results in changes within the organization? - Answer Evaluating results What is the result of a company increasing the delegation of authority and the span of control? - Answer Increased decision-making authority given to employees Which two key elements does an effective organization include? - Answer Human interaction Structure Why does a line organizational structure fu...

Human Interaction & Structure - Answer Which two key elements does an effective organization include? It establishes a direct flow of authority - Answer Why does a line organization structure function most effectively in a crisis situation? Departmentalization - Answer A company might divide itself into smaller groups that best match the types of customers it serves. What is this an example of? Achievement of company goals - Answer Which primary driver does management use for an...

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economics - Answer study of choice under conditions of scarcity macroeconomics - Answer national/global economies microeconomics - Answer businesses/individuals 3 basic economic questions - Answer -what to produce -how it will be produced -whom will it be produced for traditional economy - Answer traditions, beliefs, and customs command economy - Answer government makes all decisions market economy - Answer decisions based on consumer demand mixed economy - ...

What are the three fundamental questions every economy must answer? Give an example of a "What" question. - Answer What to produce, how it will be produced, and from whom the goods or services are produced. What to produce (Oil vs. Cattle), How to (Current vs. New technology), From who to produce What do economists mean when they say that people "think at the margin"? - Answer Thinking about the next step or an additional action means for a person. According to the 10 Principles of...

comparative advantage - Answer the ability of a party to produce one particular good or service at a lower opportunity cost versus another Protectionism - Answer a policy of protecting the domestic producers of products by imposing tariffs, , quotas, or other barriers on imports. absolute advantage - Answer the ability to produce a good using fewer inputs than another producer Production Possibilities Frontier (PPF) - Answer a curve showing the maximum attainable combinations of...

which principle of economics does the $6 price from the China vendor represent if the company decides to produce the sheet set in its Mexico facility - Answer principle 2:cost is determined by what is given up also known as opportunity cost which economic system is represented by thr governments actions to regulate the production of ABC company's products - Answer mixed which economies have characteristics of all the economic systems with market system being the most prevalent - Answe...

What is frictional unemployment? - Answer Between jobs, moving towards a better job. (Module 7) What is structural unempoyment? - Answer Job eliminated, accumulated experience is no longer valued in the labor market. What is cyclical unemployment? - Answer Laid off due to a recession How do you calculate the unemployment rate? - Answer (# of unemployed/labor force) x 100 How do you calculate the labor force participation rate? - Answer (labor force / population) x 100 Wh...

Which type of economy is characterized by a government that plans and controls all economic activity? - Answer Command Correct! A command economy is a centralized economic system in which all economic decisions are made by the nation's government. What is an example of a normative economic statement? - Answer Marginal tax rates should be lowered on high-income individuals. Correct! A marginal tax rate is the amount of money an individual pays in taxes on each additional dollar earned. ...

Macroeconomics - Answer A branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole Microeconomics - Answer A branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms Scarcity - Answer The basic economic problem; the gap between limited, scarce , resources and theoretically limitless wants Op...

How are Positive and Normative economics different from each other? - Answer Positive economics clearly states and economic issue, and normative economics provides the value-based solution for the issue. What are factors of production? - Answer The resources the economy has available to produce goods and services How can Labor's contribution to an economy's output of goods and services be increased? - Answer By increasing either the quantity of labor of human capital. What are t...

Economics - Answer The study of how humans make decisions in the face of scarcity. Factors of Production - Answer Describes theninputs used in the production of goods or services to make an economic profit. Macroeconomics - Answer A branch of economic dealing with the performance, structure, behavior and decision making of an economy as a whole. Microeconomics - Answer A branch of economics that studies the behavior of individuals, and firms in making decisions regarding the all...

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ABC Classification - Answer a method for determining level of control and frequency of review of inventory items Acceptable Quality Level (AQL) - Answer The small percentage of defects that consumers are willing to accept. Acceptable Sampling - Answer The process of randomly inspecting a sample of goods and deciding whether to accept the entire lot based on the results Action Bucket - Answer The current time period Action Notices - Answer Output from an MRP system that iden...

Which definition is used for quality evaluates how well a product performs its intended function? -Statistical Quality Control Charts -Fitness quality for use -Product design quality -14 points for quality improvement - Answer Fitness for use Which total quality management (TQM) process was developed to stress management's responsibility for quality? -Statistical Quality Control Charts -Fitness quality for use -Product design quality -14 points for quality improvement - Answer ...

appraisal costs - Answer Costs incurred in the process of uncovering defects Benchmarking - Answer Studying the business practices of other companies for purposes of comparison Cause-and-effect diagrams - Answer A chart that identifies potential causes of particular quality problems. Checklist - Answer A list of common defects and the number of observed occurrences of these defects Conformance to specifications - Answer How well a product o service meets the targets and tol...

b - Answer Which definition used for quality evaluates how well a product performs its intended function? a. Psychological criteria b. Fitness for use c. Value for price paid d. Support services c - Answer Which total quality management (TQM) process was developed to stress management's responsibility for quality? a. Statistical quality control charts b. Fitness quality for use c. 14 points for quality improvement d. Product design quality a - Answer Which total qu...