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What is wheel of retailing and its components?
The Wheel of Retailing is an interesting phenomenon that has observed the tendency of retail stores to progressively add to their services. These services are normally motivated and influenced by consumer desires and aimed to increase consumer satisfaction as well as profits. Many stores have begun as discount retailers but have gradually added services in response to consumer demand.
What does letters VAT stand for?
VAT stands for Value Added Tax. It is a consumption tax levied on the value added to goods and services at each stage of production or distribution. Businesses collect VAT on behalf of the government and pass it on to the consumer, which ultimately impacts the final price paid for products and services.
Which of thses taxes is paid by consumer when a product is purchased?
The tax typically paid by consumers when a product is purchased is known as sales tax. This tax is calculated as a percentage of the purchase price and is added at the point of sale. In some regions, value-added tax (VAT) may also apply to consumer purchases. Both taxes are ultimately borne by the consumer, as they increase the total cost of goods and services.
The right to consumer education was added to the consumer bill of rights by?
Baho kag bilat
Who added the right to consumer education to the Consumer Bill of Rights?
John F. Kennedy
When can a seller shift tax to a consumer?
A seller can shift tax to a consumer when the tax is passed on as part of the price of goods or services sold. This typically occurs with indirect taxes, like sales taxes or value-added taxes, where the seller includes the tax in the final price charged to the consumer. The seller is responsible for collecting the tax from the consumer and remitting it to the government. However, the ability to shift tax may depend on market conditions, competition, and consumer demand.
Vat is levied on what?
Value Added Tax (VAT) is levied on the value added at each stage of production and distribution of goods and services. It is charged on the sale of goods, services, and certain imports, with businesses collecting it on behalf of the government. The final consumer ultimately bears the cost, as they pay VAT included in the purchase price. VAT rates and regulations can vary by country.
How does advertising of a product increase it's price in the market?
Advertising increases awareness, which in turn increases demand, which then makes the product more desirable/harder to get, which then increases the amount that the provider can charge for the product, thus increasing the price that they ask for it. The cost of advertising must be added to the price of the product. The larger, more expensive the advertising campaign, the more cost must be added to the price of the product.
Is value added tax a direct tax or indirect tax?
Value Added Tax (VAT) is an indirect tax. It is levied on the value added to goods and services at each stage of production or distribution, rather than directly on income or profits. This means that the tax is ultimately borne by the consumer, as businesses pass on the VAT cost in the price of their products.
What are the value added services in warehousing?
Value added activites created by a warehouse
What is added fees for various services?
surcharges
How is the economy affected when the stock market does well?
it improves with added consumer confidence and spending
