Answer:
The Electronics, beverages, fast-food, and automobile industry are some sectors that have witness proliferation of products and the shortening of product life-cycle.
Supply chain in these industries have seen their processes change overtime and presently more focus on service, and the ability to quickly react and continuously meet the requirements of customers. They have also leverage on information technology and globalisation in extending their supply chain beyond national and regional boundaries with some companies in these industries having aspects of their processes in different country.
Answer:
If Victoria purchases insurance, she will have (4000-1200) = $2800 for consumption. Now even if she has an accident, she will not have to incur any medical costs.
So the expected value of Victoria’s consumption should she purchase the insurance cover is $2800.
Expected utility should Victoria purchase insurance will be equal to the total utility as Victoria will surely have 3100 for consumption.
E(U )= 
E(U) = 621 (rounded off to nearest integer)
When weighing your employment options, these are very important to consider:
- Employee Benefits
- Pay period
- Taxes taxable income.
Thus, all of these are very important to consider before accepting the job offer.
Answer:
To be considered as a producer, we need to create some sorts of goods or services and exchange it with the customers in order to obtain some sort of financial gain. I believe that a host who seats customers in a busy restaurant would be considered a producer because he is providing a service to consumers.
Hope this helps!
