Pure tangible good - Study guides, Class notes & Summaries

N.C. Claims Adjuster Exam Latest 2024 Rated A+ Inception/Expiration Date - Answer ️️ -an insurance policy covers the insured starting at 12:01am on the day on which coverage begins and expires at 12:01am on the expiration day of the policy. Occurrence Date - Answer ️️ -Date of which the loss occurred Identification of parties involved - Answer ️️ -The loss report should include the names and addresses of the parties involved in the loss, the names and addresses of any injured p...

MIE 201 Exam 1 business - correct answer individuals or organizations who try to earn a profit by providing products that satisfy people's needs product - correct answer a good or service with tangible and intangible characteristics that provide satisfaction and benefits profit - correct answer the difference between what it costs to make and sell a product and what a customer pays for it nonprofit organization - correct answer an organization whose goals do not include making a person...

Chapter 01 - The Dynamics of Business and Economics True / False Questions 1. Products have tangible attributes only. FALSE Chapter 01 The Dynamics of Business and Economics Products can also be a service, which has intangible attributes. Blooms: Remember Difficulty: Easy Learning Objective: 01-01 Define basic concepts such as business, product, and profit. Topic: 01-02 The Nature of Business 2. The goal of business activities is to earn a profit. TRUE Without profit, businesses will...

What is a Business? An organization that strives for a profit by providing goods and services desired by its customers. Goods and Services Goods are tangible items such as cars, televisions, or soda. Services (action or work performed for monetary compensation) are haircuts, hotel stays, or roller-coaster rides Revenue, Cost and Profit Revenue is the money a company receives by providing services or selling goods to customers. Costs are expenses for rent, salari...

N.C. Claims Adjuster Exam (License) Questions and Answers with complete verified solutions 100% solutions Inception/Expiration Date - CORRECT ANS an insurance policy covers the insured starting at 12:01am on the day on which coverage begins and expires at 12:01am on the expiration day of the policy. Occurrence Date - CORRECT ANS Date of which the loss occurred Identification of parties involved - CORRECT ANS The loss report should include the names and addresses of the parties involv...

CHAPTER 1: OPERATIONS AND PRODUCTIVITY TRUE/FALSE 1. Some of the operations-related activities of Hard Rock Café include designing meals and analyzing them for ingredient cost and labor requirements. True (Global company profile, easy) 2. The production process at Hard Rock Café is limited to meal preparation and serving customers. False (Global company profile, easy) 3. All organizations, including service firms such as banks and hospitals, have a production function. True (Wha...

Chapter 4—Price: The Role of Demand and Supply MULTIPLE CHOICE 1. 2. 3. 4. 5. 6. For demand to exist, there must be a. a desire and an ability to buy. b. a supply of the product in the market. c. a price that is low enough to permit all consumers to afford the product. d. All of these. ANS: A PTS: 1 DIF: Easy NAT: TOP: B-Head: Law of Demand KEY: Bloom's: Knowledge The demand for a product at a given time is defined as the a. desire for it. b. sum spent on it. c. measure of to...

Chapter 4—Price: The Role of Demand and Supply MULTIPLE CHOICE 1. 2. 3. 4. 5. 6. For demand to exist, there must be a. a desire and an ability to buy. b. a supply of the product in the market. c. a price that is low enough to permit all consumers to afford the product. d. All of these. ANS: A PTS: 1 DIF: Easy NAT: TOP: B-Head: Law of Demand KEY: Bloom's: Knowledge The demand for a product at a given time is defined as the a. desire for it. b. sum spent on it. c. measure of to...

Texas Insurance P&C License Exam Questions and Answers A Level What are 3 subjects an auto policy covers? - 1. Body 2. The vehicle 3. Assets Bodily Injury Types - Personal Injury Med Pay Uninsured Motorist No Fault Insurance - State stipulates that parties cannot file a claim to the other persons insurance policy unless required in excess. Instead, each party is required to file a primary claim against their own insurance regardless who is at fault. EX. Florida Financial Respo...

Economics - answer-The study or science of production, distribution, and consumption The study of how society manages its scarce resources Society and Scarce Resources - answer-The management of society's resources is important because resources are scarce Scarcity implies choice and choice implies cost Scarcity - answer-Means that society has limited resources and therefore cannot produce all the goods and services people wish to have Why study consumer economics? - answer-To apply...