What is a business cycle? Describe the key phases of a business cycle in a changing economy.
What will be an ideal response?
Answers will vary. The business cycle is the periodic contraction and expansion that occur over time in virtually every economy. The two key phases of the business cycle are contraction and expansion.Contraction is a period of economic downturn marked by rising unemployment. Businesses cut back on production, and consumers shift their buying patterns to more basic products and fewer luxuries.Expansion is a period of robust economic growth and high employment.Businesses expand to capitalize on emerging opportunities. Consumers are optimistic and confident, which fuels purchasing, which fuels production, which fuels further hiring.
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Because agents are compensated only when they sell, based on a negotiated commission rate, the channel costs become fixed costs rather than variable
Indicate whether the statement is true or false
Some of the major advantages of using online surveys are:
A) easy to use SPAMBOTS to collect email addresses ; this lowers the cost and increases speed B) real time access to data and availability of many respondents by sending out randomly selected emails C) low cost, speed, and sample representativeness D) representativeness and verifiability of samples E) fast, easy and inexpensive
You are the salesperson for a manufacturing business that makes various scents used in soap and candle making. Your sales manager expects your frequency of sales calls on a particular customer will increase when the:
A. total number of managerial levels increases at the end of the year. B. number of product lines sold carried by the wholesaler increases. C. future sales potential for your company's products decreases. D. complexity of the scent mixtures sold decreases. E. number of orders placed for different scents diminishes.
Strategic planning and goal setting are examples of which of the following OD consultant competencies?
a. Data Collection and Analysis b. Business and Management Knowledge Areas c. Consulting Skills d. Interventions