WEEK THREE QUESTIONS: 38) What is Utility? "The utility of a consumer is a measure of the satisfaction the consumer derives from consumption of goods and services" (p. 270) 39) What is the Law of Diminishing Marginal Utility? "According to the principle of diminishing marginal utility‚ each successive unit of a good or service consumed adds less to total utility than the previous unit." (p.272) In other words the more one consumes the more they will be satisfied until they reach a
Premium Costs Economics Economics of production
ACCT3708 Week 3 Tutorial Q1. What is the link between audit risk and engagement risk? How does the audit risk model allow the auditor to deal with these risks in the most cost effective manner? Audit risk is the risk that the auditor gives the wrong opinion – this can either be stating errors when there are none or when there are errors stating that there are none. This risk cannot be eliminated as auditors can only provide a reasonable assurance and not absolute‚ but instead this can only be managed
Premium Auditing Financial audit Balance sheet
40-hour workweek for an employee who had quit the previous week. He then prepared a paycheck for this employee‚ forged her signature‚ and cashed the check. Violation: The payroll clerk only has an authority to prepare the paycheck‚ not to signature or cashed the checks. The signature of payroll is the duty of HR manager‚ while cashed the paychecks is the duties of the cashier‚ so‚ the payroll clerk has violated his/her job description and his/her authorities. Solution: In this case‚ we must make
Premium Accounts receivable Invoice
Classic Airlines Marketing Solution Amy Salawu MKT/571 February 25‚ 2013 Kurt Dietrich Overview Classic Airlines put together a team to reduce overall costs by 15% and address several concerns including employee morale and customer retention. The team faces the challenge of convincing senior leadership to look beyond the bottom line becoming a customer focused organization. The team also faces the challenging of making changes without increasing costs‚ cutting salaries‚
Premium Marketing Problem solving Loyalty program
case study‚ the organizational behavior group‚ led by Christine‚ is a in the storming stage. Assuming Christine was unaware of the storming stage of group development‚ she could have made a more aggressive attempt to speak with Mike before the fifth week. There were issues with Mike that needed attention early on. Some would argue that the group would be in the norming stage but these conflicts were never resolved which puts them still in the storming stage. Everyone in the group was getting along
Premium Psychology Case study Evaluation methods
L3- HSC Technical Certificate unit worksheet Unit 204 – Principles of safeguarding and protection in health and social care The numbers in the bracket after each question relate to the assessment criteria in the standards 1. Define the following types of abuse: (1.1.1) a. physical abuse- any abuse involving the use of force. b. sexual abuse- sexual activity is abusive when informed consent is not freely given. c. emotional/psychological abuse- any situation which means that an individual
Premium Abuse Child abuse
Marketing Research Tools Your name University Class Instructor Date Introduction Secondary research is the collection of information that has already been collected previously. Secondary research also means extracting information from published or already recorded data. Primary research means data that does not exist and gathered to meet specific objectives. This is also called original research on a subject. This paper will explain secondary and primary research tools and
Premium Quantitative research Qualitative research Research
Week 3 Case Study Report Background/History Fresh Direct is an online grocery launched in 2001 that offers shopping and delivery services to around 300 zip codes in the tri state area of New York (www.freshdirect.com). The current CEO of Fresh Direct is Mr. Jason Ackerman‚ who is also a cofounder of the firm‚ whilst the chairman is Jim Manzi. Fresh Direct serves over 600‚000 customers‚ and in 2010 it claimed revenues of more than $250 million‚ representing an increase of $20 million from the
Premium Grocery store Supermarket Grocer
This file MGT 426 Week 5 Discussion Questions includes answers on the following questions: 1. What characteristics of a learning organization do you see in your organization? What can your organization do to transform into a learning organization? 2. How closely does your organization follow Senge Communications - General Communications 1. In machine-assisted interpersonal communication‚ feedback is often limited to one channel‚ and is often difficult. A) True B)
Premium Public relations Journalism Broadcasting
Kathleen’s Part Week IV Team Assignment * Estimate which competitive strategies Riordan could use to improve innovation and sustainability of business operations both in the United States and in the global market. Riordan could increase innovation and sustainability for the business operations in the United States of America and globally by implementing a strategic capacity plan. This plan will increase effectiveness‚ add improvement to its supply chain‚ and implement the methods and concepts
Premium United States Economics Forecasting