Customer-Level Planning Circle K operates a number of convenience stores worldwide. Assume that an analysis of operating costs, customer sales, and customer patronage reveals the following: Fixed costs per store $80,000/year Variable cost ratio 0.80 Average sale per customer visit $15.00 Average customer visits per week 1.75 Customers as portion of city population 0.04 Determine the city population required for a single Circle K to earn an annual profit of $40,000. Round annual contribution per customer to two decimal places. For customers required for desired profit and required population, round up to the nearest whole number (i. e., 325.333 customers

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

disadvantages of leasing a vehicle: no vehicle equity and mileage limitations

disadvantages of purchasing a vehicle: large down payment and vehicle depreciation

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i would prefer to go with the news article for nate, its recent and updated and stores a lot of information