Any alteration or modification of a product after it leaves the seller's possession can make the seller strictly liable for injuries caused by the product
Indicate whether the statement is true or false
FALSE
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Explain what a fully-focused and a market-focused strategy are and discuss the opportunities and risks inherent in selecting each strategy
What will be an ideal response?
Which of the following statements is a strategy decision, rather than an operational decision?
A. "We will increase the number of training sessions for new sales associates from two to three." B. "We will cut prices as needed to in order to protect our market share." C. "We will hire a merchandising specialist this month to help remodel our older stores." D. "We will place a special ad in the Sunday newspaper promoting our upcoming sale." E. "We will change the colors of our selection of shirts at the end of the season."
Consider the following cost items:1. Sales commissions earned by a company's sales force.2. Raw materials purchased during the period.3. Current year's depreciation on a firm's manufacturing facilities.4. Year-end completed production of a carpet manufacturer.5. The cost of products sold to customers of an apparel store.6. Wages earned by machine operators in a manufacturing plant.7. Income taxes incurred by an airline.8. Marketing costs of an electronics manufacturer.9. Indirect labor costs incurred by a manufacturer of office equipment.Required:A. Evaluate the costs just cited and determine whether the associated dollar amounts would appear on the firm's balance sheet, income statement, or schedule of cost of goods manufactured.B. What major asset will normally be insignificant for
service enterprises and relatively substantial for retailers, wholesalers, and manufacturers? Briefly discuss.C. Briefly explain the similarity and difference between the merchandise inventory of a retailer and the finished-goods inventory of a manufacturer. What will be an ideal response?
?Panama is considering instituting trade restrictions in order to balance its payments, protect new businesses, and protect domestic jobs. What may be some of the reasons it would not want to institute trade restrictions?
A. ?Higher prices for consumers, restrictions of consumers' choices, misallocation of international resources, and loss of jobs. B. ?Lower prices for consumers, more consumer choices, proper allocation of international resources, and increase in employment. C. ?Sluggish market improvements, high retail prices, and lack of international resources. D. ?Loss of jobs, lack of national innovation, and high interest rates.