Lab Assignment #1 Use the chart below to rate the items from 1-5 (with 1 being the lowest and 5 being the highest) in terms of each type of utility. Then‚ write a brief explanation under each ranking. The first item has been done for you as an example. Form Utility Time Utility Place Utility Possession Utility Image Utility A cold bottle of water in an amusement park on a hot day 3 The bottle makes it easy to carry the water around the park. Therefore‚ its form is valuable. 5 Cold water is much
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societal marketing concepts. 1. THE PRODUCTION CONCEPT: the philosophy that consumers will favor products that are available and highly affordable‚ that management should therefore focus on improving production and distribution efficiency. 2. THE PRODUCT CONCEPT: the idea that consumers favor products that offer the most quality‚ performance and features‚ and that the organisation should therefore devote its energy into making continuous product improvements; a detailed version of the new
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Defining Crime Crime Is usually defined as whether the law has been broken which may lead to a punishment by the legal system however crime is hard to define because if the law or penal system did not exist than neither would the labelling of a behaviour or act as criminal or not. The legal system defines acts as criminal if a person has broken the law either by “actus reus” (guilty act)‚ when a criminal act has occurred or “mens rea” (guilty mind) when a person had the intention of carrying
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This is an important business concept and must never be confused with profit. The contribution of a product refers to how much it contributes to the fixed costs and profit of the business once variable costs have been covered. It can be calculated either per unit of output or in terms of total contribution of all units produced. Contribution ignores fixed costs and only considers any surplus left once variable costs have been subtracted from revenue. Hence‚ contribution is what a product contributes
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Con Law 2 Outline Bill of Rights First 8 directed at Individual Rights Negative Rights Limitations on government and what Congress can do Government: representation of the people Limitations on government are limitations on the people People can abuse power so BOR have limits on what the people can do In process of creating majority need to ensure protection for minority Reconstruction Amendments 13th abolishes slavery 14th limits state/local government from violating EP DP PI
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Diminishing filial piety and its impact on long-term care policies Filial Piety is a virtue regarded by Confucius as a way to ensure a peaceful family and society. Filial piety is loyalty to one’s family and country. Filial piety is the most important moral in Chinese culture. Showing love for the nation and selflessness in protecting and loving one’s family is ideal. When developing and introducing policies to provide for the long-term care needs of the elderly‚ authorities must recognise the following:
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Distinguish between diminishing returns and economies of scale (15 marks) In Business Economics‚ the short run is defined as the concept that within a certain period of time‚ in the future‚ at least one input is fixed while others are variable and the long run is defined as a period of time in which all factors of production and costs are variable. The law of diminishing returns is a short run concept‚ which states that increasing successive units of a variable factor to a fixed factor
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receives (Marginal Revenue‚ 2009). If a company is in the business of sales‚ revenue is the amount of money the company receives per unit sold. Marginal revenue is the amount of money a company receives for the last unit sold. This is found by dividing the change in revenue by the change in quantity sold. For companies that compete with one another marginal revenue is not very important. This is because in a competitive environment most products are sold at a set price so that marginal revenue
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CASE related facts Western Utilities a privately owned utility company currently faced with financial inefficiencies resulting from an expansion of its facilities. President Robert Delgado has personally asked them to raise the standard of employee performance as well as setting goals that are not easily attainable. MBO is being implemented by John Givens and Hilda Hirsh to identify key standards with which to control performance. 3 year ago‚ MBO is implemented for the purpose of evaluating
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