Sara gives 2 haircuts or 1 perm and hour. Megan gives 3 haircuts or 2 perms per hour. First- Identify if it is a output or input question

Second-Identify who has the ABSOLUTE ADVANTAGE

Third-Identify who has a COMPARATIVE ADVANTAGE

Fourth- Identify how they should specialize

Why should managers invest any excess cash

Which of the following is a characteristic that can be used to guide the design of service systems? a. services cannot be inventoried. b. services are all similar. c. quality work means quality service. d. services businesses are inherently entrepreneurial. e. even service businesses have internal services.

Peppy knows a lot about marketing, but not much about the legal or financial aspects of starting a new business. he wants to consult with a lawyer and accountant, but his budget is tight with all of the expenses involved in getting peppy's pizzazzeria up and running. peppy should: trust his basic instincts and try to put it together without the advice of lawyers and accountants. delay talking with a lawyer and accountant until the business has established a positive cash flow for at least one year. immediately hire full-time lawyers and accountants for his staff. consult with a lawyer and accountant even though the budget is tight.