interview any business owner on how he/she ensures that the following elements of Total Quality Management (TQM)positively impact on his/her business

Answers

Answer 1

Answer: Hey there

Total Quality Management (TQM) is a comprehensive and structured approach to an organizational management.

Total Quality Management refers to systems that focus on quality. Make the quality more better and less cheaper. The better the quality of the item, the better they will make a profit.

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After the price of smartphone apps falls, Justin buys fewer flash drives but he buys a new smartphone. For Justin 1. smartphone apps and flash drives are substitutes, and smartphone apps and smartphones are complements. 2. smartphone apps, flash drives, and smartphones are not all complements. 3. smartphone apps, flash drives, and smartphones are all complements. 4. smartphone apps and flash drives are complements, and smartphone apps and smartphones are substitutes.

Answers

Answer:

1. smartphone apps and flash drives are substitutes, and smartphone apps and smartphones are complements

Explanation:

Complements are goods that are consumed together. If the price of one of the goods increases, the demand for the other good increases. This indicates that smartphone and smartphone apps are complements.

Substitutes are goods that can be used in place of each other. If the price of one good falls, the consumer demands more of that good and less of the subsituite goods. This shows that smartphone apps and flash drives are substitutes.

I hope my answer helps you

Final answer:

The question discusses the concepts of substitutes and complements. When the price of smartphone apps falls, Justin buys fewer of its substitute (flash drives) and more of its complement (a smartphone).

Explanation:

The question refers to two economic concepts: substitutes and complements. Substitutes are goods or services that can be used in place of each other. If the price of one good falls, people tend to consume less of its substitute and instead consume more of the cheaper good. This is called the substitution effect. For instance, if the price of smartphone apps declines, Justin buys fewer flash drives (since these are now relatively more expensive) and more apps.

Meanwhile, complements are goods that are typically consumed together. If the price of one good drops, the demand for its complement tends to increase. So in Justin's case, because the price of apps fell, he also bought a new smartphone to go along with the apps. Here, smartphone apps and smartphones are complements.

Therefore, for Justin, smartphone apps and flash drives are substitutes, while smartphone apps and smartphones are complements.

Learn more about Substitutes and Complements here:

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What relation does credit and debt have?

Answers

Credit represents money that is available to be borrowed. Meaning, you can buy things with the use of credit card with borrowed money. Your card company will pay for your purchases but when your card statement arrives, it will pay for the borrowed money. Debt, on the other hand, represents money that was borrowed and that has not yet been paid back. Credit is the ability to create debt.

How does a diversified investment portfolio reduce investors' risk of losing money?A.) by increasing dividends

B.) by increasing the rate
of return

C.) by increasing the liquidity of investments

D.) by spreading investment capital over many investments

Answers

the answer is d. by spreading investment capital over many investments

D. is the correct answer

Which type of organizational purchase situation is characterized by high purchase importance and complexity, a large and evolving decision-making unit that includes the top of the organization, a long time to decision, extensive information search and analysis techniques, and a dominant strategic focus?

Answers

Answer:

New Task

Explanation:

The new task is a company purchasing scenario where the purchaser initially buys a products or services for the first time with no testing experience.

An comprehensive search is performed to assess alternatives, however. The higher the price or risk concerned, the more decision-making participants ' knowledge is required.

For instance, an organization that purchases raw resources for the first time to produce devices.

Which of the following is used by a seller to deceive a buyer?a. bait and switch
b. contest
c. display
d. introductory offer

Answers

Seller deceive a buyer by using A. BAIT AND SWITCH.

Seller lures the buyer into buying a product, bait. Seller presents all benefits of the products using the bait product. When the buyer decides to buy the product, the seller will then switch the bait product into another product that may be of lower value than the bait product.

In the event that the buyer will complain to the seller regarding the product bought, seller will defend him or herself by insisting that the product given was the product tested by the buyer.

The answer is A. bait and switch

List three nondurable goods that you use on a regular basis

Answers

toilet paper/ soap/water/food

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If you were told that your credit score was 700, how would you judge that number? (10 points)