Answers to Chapter 3 Exercises 3.1. DRAM factory. You own and operate a facility located in Taiwan that manufactures 64-megabit dynamic random-access memory chips (DRAMs) for personal computers (PCs). One year ago you acquired the land for this facility for $2 million‚ and used $3 million of your own money to finance the plant and equipment needed for DRAM manufacturing. Your facility has a maximum capacity of 10 million chips per year. Your cost of funds is 10% per year for either borrowing
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Chapter 7 In this chapter‚ the author uses an example of dieting to show that people use other people’s very basic understanding of markets to control them‚ and how knowing more can save you more. He says that a major contributor to that is that people‚ especially in America‚ can spend money that is not theirs. This is called a credit system (uses credit cards). Being able to do this‚ he says‚ is a good and a bad thing because people can overspend and end up broke. He says that this ties into
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Chapter 7 Study Questions 1. What is meant by the term service breakdown? a. the product or service selivered fails to meet customers expectations 2. What causes customers to become dissatisfied? a. when a product or service fails to meet the customers wants or need or does not live up to advertised promises or standards. 3. What can you use to deal with angry customers? a. be positive b. acknowledge the customer’s feeling or anger c. reassure d. remain objective
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Summary: Chapter 7 of Macionis and Plummer (2013) focuses on the idea of human societies through interactions of everyday life through the term ‘micro-society’. Building our social world is an important part where individuals participate in the interaction with others to form a ‘social construction of reality’‚ consequently‚ relying on social experiences to learn from their adopting behaviours of their cultures. John. B. Watson believed that our behaviour is shaped by our responses to the
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A reporter who had previously interviewed Gatsby before the information about his early life was known‚ headed to New York in anticipation of interviewing him again. The truth is Gatsby was born James Gatz in North Dakota on a farm. He attended St. Olaf’s in Minnesota while working as a janitor to pay his tuition‚ but dropped out after only two weeks. The next summer while he worked on Lake Superior digging for clams and fishing for salmon‚ he spotted a yacht owned by Dan Cody‚ who was a wealthy
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In chapter seven Hooks talks about feminism in the realms of class. Hooks explains that the focus of feminism came to be about the wealthy white upper class women who wanted the same opportunities as men of their own class rather than the focus of women receiving the same benefits to sustain themselves. Working class and middle class women were able to work‚ but they did not make enough money to support themselves. I liked this chapter because Hooks gave a resolution for the problem. Hooks explains
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1 Marginal utility is best computed as the: Choose one answer. | D. change in total utility from an additional unit consumed. | | Question 2 If the price of chocolate-covered peanuts decreases from $1.05 to $0.95 and the quantity demanded increases from 180 bags to 220 bags‚ this indicates that‚ if other things are unchanged‚ the absolute value of the price elasticity of demand using the midpoint method is: Choose one answer. | A. 2. | | Question 3 If an increase in the price
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ANSWERS TO END-OF-CHAPTER QUESTIONS 14-2 The two principal reasons for holding cash are for transac¬tions and compensating balances. The target cash balance is not equal to the sum of the holdings for each reason because the same money can often partially satisfy both motives. 14-4 The four elements in a firm’s credit policy are (1) credit standards‚ (2) credit period‚ (3) discount policy‚ and (4) collection policy. The firm is not required to accept the credit policies employed by its
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CHAPTER 7 IDENTIFYING AND UNDERSTANDING CONSUMERS 6 Categories of Factors Impacting Shoppers Figure 7-2 .174 Lifestyle: Social and Psychological Factors p. 177 Impact of Perceived Risk Figure 7-3 p. 178 6 Stages in the Consumer Decision Process Figure 7-6 p. 185 3 Types of Decision-Making p. 188 3 Types of Impulse-Buying p. 189 3 Types of Target Market Strategies pp. 191-193 6 Steps in devising a Target Market Strategy Figure 7-10 p. 192 Multiple Choice -
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Chapter 7 Networks of Communication and Exchange: Focus Questions: 1. The factors that contributed to the growth of trade along the Silk Road is that it was located along the threshold of central Asia. All of the traders share customs with the steppe nomads farther to the East (202). The Chinese were eager to buy western products (203) which were another contributing factor for trade to be in one central area‚ because merchants would flock to that area. Cooperative relations between caravan traders
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