Examine the experience of shopping online versus shopping in a traditional environment. Imagine that you have decided to purchase a digital camera (or any other item of your choosing). First, shop for the camera in a traditional manner. Describe how you would do so (for example, how you would gather the necessary information you would need to choose a particular item, what stores you would visit, how long it would take, prices, etc.). Next, shop for the item on the Web or via a mobile app. Compare and contrast your experiences. What were the advantages and disadvantages of each? Which did you prefer and why?
Answers
Answer:
Shopping in a traditional manner
If I had to buy, let’s say an iPad, I would visit the official store. First of all, I would take a closer look at the product, revising it carefully, if it feels right and if it meets my needs. Then I would ask for the price if they have a discount or any sale upcoming or payment plan. If everything meets my requirements I would buy the item. On the other hand, if there weren’t any official stores around the place I live in, I would visit three different department stores, preferably where they have the product of my interest displayed, also I would ask about the price and/or payment plan or discounts and availability. I must mention that cost is an important aspect to make a decision on where to buy the item. All of this process would take about 1 or 2 days at most.
Advantages
- -You can see, feel, check the product to dissipate any doubts, there are people willing to answer any question and help to make a better choice.
- Get the product at the same moment you are paying for it and if you want to you can use/wear it immediately.
Disadvantages
- If they are out of stock of the item of your interest, there is a chance you will have to wait a long time for it, although it could happen the store won’t have the product available again.
- The offers are not as wide as on the web sites.
Shopping on the web or via a mobile app
It is almost the same as shopping in a traditional manner, the greater differences are that there are more virtual places/shops online to compare prices and availability and sometimes they have great offers, because of the competition. Generally, the items are cheaper than a department store.
This process could take about a week, especially if you are waiting for a specific offer.
Advantages
- There are lots of options, lots of different online stores, that increase the chances to get a good offer or an item with better characteristics at the same price; if you don’t find availability in one web you can find it in another in no time.
- There is no need to leave your house or put on pause your busy schedule, as you will receive the item at your door.
Disadvantages
- You can’t check the product given they only display a few pictures of it and a brief description, there is no one to answer your doubts about the item, basically, the decision relies on your research and recommendations of the product.
- After making your purchase, you will have to wait a few days to receive your item at home or the workplace. Sometimes happens the store confuses your order sending a different product or other with different characteristics, resulting in having to return the item and wait days to get what you order in the first place.
Explanation:
Which did I prefer and why?
Considering the advances in technology, I prefer to shop online, there I can find what I'm looking for and of course, they have a great offers, too. Besides, with day to day occupations I barely have time to go to a department store, so is easier to access using a computer or an app on the smartphone.
Related Questions
as students, what plan can you suggest to prevent the spread of these observable practices in your community
Motors is a chain of car dealerships. Sales in the fourth quarter of last year were $4,600,000. Suppose management projects that its current year's quarterly sales will increase by 3% in quarter 1, by another 7% in quarter 2, by another 5% in quarter 3, and by another 4% in quarter 4. Management expects cost of goods sold to be 45% of revenues every quarter, while operating expenses should be 30% of revenues during each of the first two quarters, 25% of revenues during the third quarter, and 20% during the fourth quarter.Required:a. Prepare a budgeted income statement for each of the four quarters and for the entire year.b. Prepare the first portion of the budgeted income statement through gross profit, then complete the statement.
Records at Hal’s Accounting Services show the following costs for year 1. Direct materials and supplies $ 40,000 Employee costs 2,900,000 Total overhead 1,300,000 Production was 25,000 billable hours. Fixed overhead was $700,000. Assuming no change in billable hours in year 2, direct materials and supplies costs are expected to increase by 10 percent. Direct labor costs are expected to increase by 5 percent. Variable overhead per billable hour is expected to remain the same, but fixed overhead is expected to increase by 5 percent. Required: a. Year 2 production is expected to be 20,000 billable hours. What are the estimated direct materials, direct labor, variable overhead, and fixed overhead costs for year 2? b. Determine the total costs per billable hour for year 1 and year 2.
What are the key differences between using a deerskin as money and using a dollar bill as money?a. Using a deerskin as money incurs a much larger transactions cost because it is bigger and heavier than paper money.b. Using a deerskin as money may not be as widely accepted as using paper money.c. Using a deerskin as money cannot fulfill the key functions of money: a medium of exchange, a unit of account, a store of value, and a standard of deferred payment.d. A and b only.e. All of the above?
B. supply curve Upper S 1.
C. Point C on supply curve Upper S 2.
D. supply curve Upper S 3.
Answers
Answer:
D. supply curve Upper S 3
Explanation:
Final answer:
A decrease in the wage rate of pizza makers will result in a movement from Point B to Point C on supply curve Upper S 2. This is because the decrease in production cost (with the wage rate falling) allows more pizza to be supplied at the same price.
Explanation:
The subject of your question relates to the supply curve within the field of Economics. A supply curve illustrates how the quantity of a good supplied by producers responds to a change in price. In this case, we are considering a decrease in the wage rate of pizza makers, which is a cost of production. According to the law of supply, if the cost of production decreases, it will cause an increase in the quantity supplied. Therefore, a decrease in the wage rate of pizza makers will move us from Point B to Point C on the same supply curve i.e. on supply curve Upper S 2. This is because Point C will represent a higher quantity of pizza being supplied at the same price, as lower wage rate improves the profitability of producing pizzas.
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Answers
Answer:
Job 334 total cost: $ 8,400
Unit cost: 8,400 / 200 = $ 42
Explanation:
Total cost: Material + Labor + Overhead
Material: 5,000
Labor: 2,400
Overhead:
We distribute the expected cost over the expected base:
expected cost: 100,000
cost driver: 40,000 labor hours
cost per hour: 100,000 / 40,000 = 2.5 predetermined overhead
Now we multiply this rate by the hours of the job to know Applied Overhead:
job labor hours x overhead rate:
Job #334 had 2,400 labor cost / $6 rate per hour = 400 hours
400 x 2.5 = 1,000
Total cost: 5,000 + 2,400 + 1,000 = 8,400
Answers
Answer:
e. $22,000
Explanation:
The computation of the beginning inventory is shown below:
We know that,
Opening inventory + Purchase - Purchase Discounts - Purchase Returns and Allowances + freight in + Gross profit = Sales - sales return - sales discount + ending inventory
Opening inventory + $245,000 - $4,000 - $8,000 + $7,000 + $75,000 = $317,000 - $9,000 - $1,000 + $30,000
Opening inventory + $315,000 = $337,000
So, the opening inventory equals to
= $22,000
Final answer:
The beginning inventory for fiscal year 2018 is $29,000. This was calculated using the principles of inventory cost flows, which led us to the cost of goods sold (COGS). From there, we used the COGS, net purchases, and ending Inventory to calculate the beginning inventory.
Explanation:
To solve this problem, inventory cost flow principles are applied. According to these, beginning inventory plus purchases minus ending inventory equals the cost of goods sold (COGS). In this case, we need to find the beginning inventory. Here is a step-by-step solution:
- First, we find the net purchases. This is total purchases ($245,000) minus Purchase Returns and Allowances ($8,000) minus Purchase Discounts ($4,000). This gives us $233,000.
- Next, we calculate the COGS. This is total sales ($317,000) minus Sales Returns ($9,000) minus Sales Discounts ($1,000) minus gross profit ($75,000). This gives us $232,000.
- Finally, we find the beginning inventory. According to inventory cost flows, Beginning Inventory + Net Purchases - Ending Inventory = COGS. In our case, Beginning Inventory = COGS - Net Purchases + Ending Inventory. This gives us $232,000 - $233,000 + $30,000 = $29,000.
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Answers
Answer:
The answer is D. identify the problem or opportunity.
Explanation:
The first step in making the right decision is recognizing the problem or opportunity and deciding to address it, this involves determining why this decision will make a difference to your customers.
B. for only the long-run.
C. for both the short-run and the long-run.
D. for only the short-run.
Answers
Answer:
The correct option is D
Explanation:
Empirical evidence is the evidence which is defined as the information received through the senses, specifically by documentation as well as monitoring of patterns and behavior via experimentation.
APC stands for Average Propensity to Consume is the one which measures the percentage of income spent instead of savings. And it is evaluated by dividing the average household consumption by average household income.
So, if the empirical evidence states that the APC is falling or decreasing then it is only for short- run or short- period.
Answer:
D. for only the short-run.
Answers
Answer:
$25 billion and $15 billion
Explanation:
Given:
Social Security Administration = $10 billion
General public held = $15 billion
Computation of Total gross public debt :
Total gross public debt = Social Security Administration + General public held
Total gross public debt = $10 billion + $15 billion
Total gross public debt = $25 billion
Total gross debt held by public = $15 billion