Accounting
Anthropology
Archaeology
Art History
Banking
Biology & Life Science
Business
Business Communication
Business Development
Business Ethics
Business Law
Chemistry
Communication
Computer Science
Counseling
Criminal Law
Curriculum & Instruction
Design
Earth Science
Economic
Education
Engineering
Finance
History & Theory
Humanities
Human Resource
International Business
Investments & Securities
Journalism
Law
Management
Marketing
Medicine
Medicine & Health Science
Nursing
Philosophy
Physic
Psychology
Real Estate
Science
Social Science
Sociology
Special Education
Speech
Visual Arts
Question
Tray has a T-shirt business that buys shirts from a wholesaler for four dollars each and sells them to retailers for eight dollars each. He imprints each shirt with a picture of a musical artist that costs him two dollars. He also pays his cousin to do the printing at five dollars an hour. LaShawn prints five shirts per hour. A retailer offers to buy 1000 shirts at seven dollars each. Should Tray agree to the deal?A) Yes, Tray will make a profit of one dollar per shirt.
B) No, Tray will not make a profit at this price.
C) Yes, Tray will make a marginal profit at this rate.
D) Yes, even though he may lose money he can make up for it in volume.
Answer
This answer is hidden. It contains 1 characters.
Related questions
Q:
Why is it not a good idea to tell investors in your business plan that your exit strategy is simply "to take the business public"?
Q:
One of the advantages of an Employee Stock Ownership Plan is that ________.
A) the owner will have to look for buyers in the general public
B) it will prevent employees from having control of the company
C) employees will likely quit and leave
D) ESOPs offer tax breaks to the company
Q:
Describe three simple methods that can be used to estimate a selling price for a business:
Q:
One of the methods for computing a company's valuation is called the market-based technique. This means to look at a company as assets minus liabilities.
Q:
What is franchising and how is it different from licensing?
Q:
Which of the following is not a benefit of franchising to the franchisor?
A) growth with minimal capital investment
B) higher marketing and promotional costs
C) royalties
D) the minimal number of regulations regarding franchising
Q:
A ________ represents the company's promise to consistently deliver a specific set of benefits to customers.
A) product life cycle
B) product line extension program
C) brand
D) customer service policy
Q:
A ________ is a business that markets a product or service in the manner prescribed by the parent business.
A) license
B) franchise
C) replica
D) branch
Q:
Explain replication strategies and harvesting and how they differ.
Q:
Companies that have faced ethical scandals typically did not have ________ in place to ensure that managers did not misuse funds or otherwise behave illegally or unethically.
A) better business regulations
B) penalties
C) corporate governance
D) a code of ethics
Q:
Many companies staff their human resources organizations using a ratio of one HR executive per ________ employees.
A) 50 -100
B) 50 - 200
C) 10 - 50
D) 250 - 1000
Q:
An organizational structure in which each person reports to one supervisor is called a ________ organization.
A) line
B) staff
C) flat
D) smooth
Q:
Why is it important for an entrepreneur to pay him/herself regularly in a consistent manner out of the business's earnings?
Q:
A pacesetting style of leadership consists of a leader who sets very high personal performance standards and challenges employees to meet them too.
Q:
No matter the size of a business, the leader sets the ________ for how the organization operates. If the leader is chaotic, chances are the business will be too. If the leader is well organized and efficient, the business may well be too.
A) asset optimization
B) expense constraints
C) profit expectations
D) tone
Q:
If a business owner wants his/her pay to be a variable operating cost, a ________ is most appropriate.
A) bonus
B) wage
C) salary
D) commission
Q:
The central focus of total quality management (TQM) is continuous improvement.
Q:
________, an American economist, argued that business should focus on making quality products instead of maximizing profits - and that profit would follow.
A) Conrad Hilton
B) W. Edwards Deming
C) Paul Samuelson
D) Adam Smith
Q:
What organization administers the Malcolm Baldrige National Quality Award?
A) United Nations (UN)
B) National Aeronautical and Space Administration (NASA)
C) National Institute of Standards and Technology (NIST)
D) National Merit Award Administration (NMAA)
Q:
________ are three of the eight quality management principles for organizational improvement.
A) Conflicted supplier relationships, process approach, and leadership
B) Customer focus, leadership, and policy approach
C) Customer focus, continual improvement, and involvement of people
D) Continuous improvement, cost control, employee motivation
Q:
Engineers from what company developed Six Sigma in the 1980s?
A) Intel
B) General Motors
C) Motorola
D) General Electric
Q:
The visual control approach to inventory management is a scientific method.
Q:
________ are the amounts of inventory or raw materials and work-in-process kept to guarantee service levels.
A) Safety stock levels
B) Sufficiency levels
C) Minimum lots
D) Minimum-Maximum balance
Q:
Factors to consider when selecting a ________ include charging a price you are willing to pay and timely delivery.
A) customer
B) supplier
C) sales representative
D) manufacturer
Q:
You do not need a patent unless you ________.
A) have invented a product that you intend to market yourself or sell to a manufacturer
B) believe that someone else could successfully sell the product by copying your invention
C) Both of the above.
D) None of the above.
Q:
What is used to identify and distinguish the source of a service rather than a product?
A) sales mark
B) trademark
C) service mark
D) intellectual property
Q:
Obtain a trademark in order to ________.
A) protect your logo
B) register your business name
C) protect all your intellectual property
D) protect your business name
Q:
An injured party whose rights in a contract have been breached can bring a(n) ________ against the other party.
A) arbitration
B) motion
C) mediation
D) lawsuit
Q:
A good contract will spell out ________, or unforeseeable "acts of God" beyond anyone's control, for which neither party is responsible.
A) contingencies
B) liabilities
C) amendments
D) disasters
Q:
________ are the building blocks of business.
A) Letters of agreements
B) Contracts
C) Personal relationships
D) Customer services