Which school of economic thought holds close to the theories of adam smith and believes that the prices of products are largely a function of how much they cost to produce?

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Answer 1

The classical school of economic thought holds close to the theories of adam smith and believes that the prices of products are largely a function of how much they cost to produce.

What is the classical school?Classical economics is a wide phrase referring to the main economic school of thought in the 18th and 19th centuries. Most people regard Scottish economist Adam Smith as the father of classical economic theory. However, Spanish scholastics and French physiocrats contributed earlier.The classical school of economic theory adheres to Adam Smith's views and argues that product prices are mostly determined by how much it costs to make them.The classical approach is a history-based, idea-oriented teaching strategy that introduces pupils to great minds from the past through literature, essays, philosophy, and other means. It has been used to educate kids successfully for hundreds of years and has created many of history's finest minds.

Therefore, the classical school of economic thought holds close to the theories of adam smith and believes that the prices of products are largely a function of how much they cost to produce.

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Related Questions

Ways in which woolworths contributes its time and effort in improving the well being of communities

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For many years, Woolworths has worked with structured charity organisations to donate surplus food from food stores to communities who need the support. This contributes to the alleviation of hunger in local communities, as well as reduces food waste to landfill from our own operations

How can Woolworths improve?

Woolworths said a new pricing and value strategy will be implemented to neutralize Cole and contain Aldi's impact on Woolworths' sales. Measures will include lower pricing, better ranging, targeted customer offers using a revised and improved loyalty system, and a detailed strategy for improving its Own Brands.

How does Woolworths contribute to the economy?

In serving an average of 26 million customers per week, Woolworths makes a significant contribution to the Australian economy with annual sales of more than $51 billion and a workforce of more than 170,000 team members across metropolitan and regional Australia.

Does Woolworths give to charity?

Not only does Woolworths provide us with regular food and grocery donations, they also help us source food across Australia by facilitating introductions and support from their primary and independent producers.

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The spot rate of the euro is quoted at $1.29. the annualized forward premium on the euro is 10 percent. what is the 30-day forward rate of the euro? a.$1.28 b.$1.30 c.$1.42 d.$1.16

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The 30-day forward rate of the euro is (B) $1.30.

What is a spot rate?The spot rate is the price indicated for an interest rate, commodity, security, or currency for immediate settlement. The spot rate, often known as the "spot price," is the current market value of an asset that is available for immediate delivery at the time the quote is made.The spot rate is obtained by determining the discount rate that equals the present value (PV) of a zero-coupon bond. These are based on assumptions about future interest rates. As a result, spot rates can employ varying interest rates for various years before maturity.

To find the 30-day forward rate of the euro:

Given: The spot rate of the euro is quoted at $1.29.

So, $1.29 × [1+ 0.10/(360/30)] = $1.30

Therefore, the 30-day forward rate of the euro is (B) $1.30.

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When starbucks expanded its current products into global markets, it was pursuing which growth strategy?

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Starbucks was pursuing market development growth strategy.

What is market development?

Market development is a growth strategy for existing products that finds and develops new market niches. Non-buying clients in currently targeted segments are the focus of a development plan. It also seeks new clients in new markets.

Market Development Strategy is a growth strategy implemented by businesses or organisations to expose their product or solution to target consumers that they have yet to reach or are not already serving. As an example, suppose your software company has a new product offering.

A corporate growth plan that focuses on introducing existing items to new markets is known as a market development strategy. A market development plan assists businesses during their expansion phase.

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Can we build a comprehensive, all-encompassing perspective and understanding of strategic management (firm performance)? how?

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Yes,

we can build a comprehensive, all-encompassing perspective and understanding of strategic management with inclusiveness of decisions.

Strategic management involves both strategy and management for its implementation in the organisation. It enhances business performance and overall process management of planning and perspective.

It also monitors all the assessments and implement necessities and enhance firms performance building a comprehensive outlook toward solving a problem to meet its goals and objectives.

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Tonya discovers that an employee is running a side business from his office, using company technology resources. What policy would most likely contain information relevant to this situation

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The policy that will contain the information relevant and sanction procedures to this kind of situation is called the agreed-upon procedure.

What is an acceptable usage policy?

This refers to a document stipulating constraints and practices that a user must agree to for access to a corporate network, the internet or other resources.

Majority of businesses and educational institutions requires employees or students to sign an acceptable usage policy before being granted a network ID.

Therefore, the policy that will contain the information relevant and sanction procedures to this kind of situation is called the agreed-upon procedure.

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At a price for which the quantity supplied is less than the quantity demanded, a __________ is experienced, which pushes the price __________ toward its equilibrium value.

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At a price for which the quantity supplied is less than the quantity demanded, a shortage is experienced, which pushes the price upward toward its equilibrium value.

A shortage exists if the quantity of a good or service demanded exceeds the quantity supplied at the current price. Thus, this causes upward pressure on price.

An increase in demand, all other things unchanged, will cause the equilibrium price to rise and quantity supplied will increase. It is seen that a price below equilibrium creates a shortage.

Hence, when the quantity supplied is less than the quantity demanded, there is a shortage in economy, which pushes the price upward.

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The internet offers more than a method to conduct business transactions.It serves as a(n)?

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The internet offers more than a method to conduct business transactions. It serves as a communications highway.

Internet marketing can personalize offers to customers by profiling their purchase history and preferences. By tracking her websites and product information that prospects visit, you can make targeted offers that reflect their interests.

Online businesses rarely take off overnight, nor do they take more than a few years. This is especially true in highly competitive niche markets. If you haven't seen any growth in a year or two, it's probably time to reassess your business model.

Electronic commerce (e-commerce) is the buying and selling of goods and services, or the transfer of funds and data, over electronic networks (primarily the Internet). These commerce transactions are either business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer, or consumer-to-business.

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The process of providing the sales organization with the information, content, and tools that help salespeople sell more effectively is referred to as_____.

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Sales enablement is the process of providing the sales organization with the information, content, and tools that help salespeople sell more effectively.

Sales enablement is an iterative process that gives your company's sales team the resources they need to close more deals. these resources include content, tools, knowledge, and information to effectively sell your products and services to your customers.

Sales management is the process of recruiting, training, and motivating salespeople, coordinating operations across the sales force, and implementing a cohesive sales strategy that drives business revenue.

Sales assistance content is content that sales reps can use throughout the sales process. sales reps need the right content at the right time to effectively engage with prospects and address their concerns. according to salesforce, 58% of the pipeline is stagnating because the salesperson cannot add value.

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La diversified inc. Recently paid its annual dividend of $3. Dividends have consistently grown at a rate of 3. 8%. The stock has a beta of 1. 29. The current risk-free rate is 2% and the market return is 10%. Assuming that capm holds, what is the intrinsic value of this stock?.

Answers

The intrinsic value of this stock is $300.

What is intrinsic value?

An asset's intrinsic value is often a value estimated using simple assumptions. For example, the intrinsic value of an option is based on the underlying instrument's present market value but overlooks the likelihood of future volatility and the time value of money.

For example, if the striking price of a call option is $19 and the market price of the underlying stock is $30, the call option's intrinsic value is $11. There are very few options that are worth less than what the option holder can receive if the option is exercised.

Intrinsic value is a basic, objective value found in an object, asset, or financial contract.

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Which medium and channel will most of your business communication efforts involve?

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Most of the business communication efforts involve written communication.

A communication channel is the medium, manner, mean  or method through which a message is sent to its receiver who was intended to recieve.

The basic channels are written such as hard copy print and digital formats,

It can be oral or spoken and  even electronic and multimedia too. Within these channels, business communications can be formal, informal, or even unofficial too.

Written communications include  different sources such as e-mails,  memos, letters,  reports, texts, newsletters, spreadsheets, etc. With written communications, the writer must provide enough context so that the message can be interpreted easily.

The receiver should inquire about ambiguity of the words and ask for clarification if required.

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An __________ is a lan that uses the same technologies as the internet but is open to only those inside the organization.

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Answer:

Intranet is the answer of this question.

Why is jan, a marketing analyst, advocating for her company's collection of more data from iot devices?

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Jan, a marketing analyst, is advocating for her company's collection of more data from IoT devices because Jan wants to utilize the information to foresee trends and anticipate consumer preferences.

IoT devices, which include the numerous devices on the internet of things(IoT), are nonstandard computing devices that may connect wirelessly to a network and transmit data.

IoT entails expanding internet connectivity to a variety of conventionally non-internet-enabled physical items and daily things in addition to regular devices like desktops, laptops, smartphones, and tablets.

These gadgets may connect and communicate online since they are technologically embedded. They can also be watched over and managed from a distance.

IoT examples include smart TVs, smart speakers, toys, wearable technology, and smart appliances.

Hence,  Jan wants to utilize the information to foresee trends and anticipate consumer preferences.

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Which organization is responsible for monitoring institutional compliance with phs policy?

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Answer:

Office of Laboratory Animal Welfare

What is an example of your experience with cultural,racial and or economic diversity?

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Answer:

One of the best examples that i can think of is the BLM protests.

In the height of the pandemic in 2020, there was an uproar following the mud3r of George Floyd and MANY more other Black people. So when people took to the streets to protest against police brutality, we saw all sorts of cultural and racial diversity protesting for the rights of our black brothers and sisters.

Explanation:

What is the name of the company that made and had their own branding on unofficial nintendo entertainment games.

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Tengen is the name of the company that made and had its own branding on unofficial Nintendo entertainment games.

Tengen

It was incorporated on December 21, 1987. In 1988, Tengen emitted its first and only three games authorized by Nintendo: R.B.I. Baseball, Pac-Man, and Gauntlet. Meanwhile, Tengen privately worked to avoid Nintendo's lock-out chip called 10NES which granted it control over which games were published for the NES.

Nintendo Co., Ltd.

Nintendo Co., Ltd. is now the biggest video game business by revenue, as a Japanese multinational customer electronics corporation headquartered in Kyoto, Japan.

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Markets tend toward equilibrium and, as a result, will tend to eliminate shortages and surpluses. why?

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Markets tend toward equilibrium because, when there is a scarcity, consumers who are dissatisfied with their inability to acquire the items or services they desire will try to bid the prices higher, causing the market to move toward equilibrium.

If there is a surplus, the price must fall to attract extra amount required while decreasing quantity provided until the surplus is gone. If there is a scarcity, the price must rise to lure greater supply and limit the amount required until the deficit is gone.

Therefore, since the consumers are dissatisfied and they are unable to get the items or the services will bid the high price to get those items or services resulting the market to moves towards the equilibrium.

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Genius capital is long $2,310,000 of big bank stock, and short $2,131,000 of tiny bank stock. Net exposure of genius capital is?

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What Is Net Exposure?

Net exposure is the difference between a hedge fund’s long positions and its short positions. Expressed as a percentage, this number is a measure of the extent to which a fund’s trading book is exposed to market fluctuations

Net exposure of genius capital is = $2,310,000 ---$2131,000

                                                                  = $1790,00

Understanding Net Exposure

Net exposure reflects the difference between the two types of positions held in a hedge fund's portfolio. If 60% of a fund is long and 40% is short, for example, the fund's gross exposure is 100% (60% + 40%), and its net exposure is 20% (60% - 40%), assuming the fund uses no leverage (more on that below). The gross exposure refers to the absolute level of a fund's investments, or the sum of long positions and short positions.

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Managers need to be aware that ____________ groups can be a powerful force within their organization

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Answer: Informal

Explanation: An informal group is one that's not organizationally determined or influenced and usually formed by the members themselves in response to the need for social contact.

The combination of inefficiently high demand and dwindling quantity leads to what is called?

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The combination of inefficiently high demand and dwindling quality leads to the tragedy of the commons.

This economic theory changed into first conceptualized in 1833 by British writer William Forster Lloyd. The tragedy of the commons refers to a situation wherein individuals with access to a public resource (also known as a not unusual) act of their very own interest and, in doing so, in the long run, deplete the resource.

The tragedy of the commons might also arise whilst a financial desirable is each rivalrous in consumption and non-excludable. These sorts of goods are known as common-pool resource items (in preference to private items, membership goods, or public goods).

The rate at which depletion of the resource is found depends frequently on three elements: the number of users wanting to eat the commonplace in question, the consumptive nature of their uses, and the relative robustness of the common.

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Why is it important for hr and compensation professionals to learn about compensation practices in other parts of the world? discuss

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Different regions of the world have different systems for managing compensation. To better understand HR best practices, HR personnel must be knowledgeable with the pay methods utilized in various parts of the world. The HR team will be better able to argue their position during the pay conversations thanks to the knowledge they have gathered.

This is due to the fact that it helps businesses to become familiar with the present compensation structure and organizational structure of globally comparable professions. It helps businesses to fairly compensate diligent workers. The knowledge acquired might also assist HR in figuring out how to enhance and preserve top talent while lowering employee attrition.

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Amazon.com and expedia.com are best described as ________ that sell products and services directly to final buyers via the internet.

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Amazon.com and expedia.com are best described as e-tailers that sell products and services directly to final buyers via the internet.

E-tailers mean Electronic retailers. An e-tailer is a store or individual who does business only or primarily on the internet. Thus, through this form of electronic commerce consumers directly buy goods or services from a seller via the internet rather than physically entering a store.

E-tailing is able to reach a broader range of consumers, and consumers are able to purchase unique products not offered in their country.

Hence, Amazon.com and expedia.com are the best examples of e-tailers that sell products and services directly to final buyers via the internet.

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Has this white's video prompted you to make any changes in the way that you view or manage your personal finances? Do you think it will impact how you handle your personal finances in the future? Explain.

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The video by Elizabeth White should prompt people to make a change in how they handle their finances as it shows how easily our finances can take a turn for the worst.

Why should be manage our personal finances effectively?

In this TED Talk, Elizabeth White talks about how her's and the Boomer generation's personal finances are in never ending trouble and how they are being blamed for not planning their finances well.

It shows how easily things can change for the worst financially as Elizabeth White went through a tough time.

This shows that it is important to take stock of our finances such that we won't go through what she did and be able to survive financial emergencies. We can do this by saving up and talking to financial planners.

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Marketing researchers conducting qualitative research usually use ______ to gather data.

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Marketing researchers conducting qualitative research usually use focus group interviews to gather data.

Qualitative market research is an open ended questions based research method conducted by marketing researchers. This research heavily relies on the following market research methods- focus groups interviews, in-depth interviews, and other innovative research methods.

A focus group interview is a qualitative research method with interesting properties. Thus, it is performed by planned discussion and interview with a small group of people conducted by a moderator. The participants are usually sampled from the study population.

Hence, marketing researchers while conducting qualitative research  use focus group interviews to gather data.

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Describe how changes in expected inflation impact an economy in the wake of a temporary negative supply shock

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Negative shocks reduce production and increase unemployment. Positive shocks increase production and reduce unemployment.

Unexpected change moving SRAS. A positive supply shock increases SRAS, whereas a negative supply shock decreases SRAS. A combination of slowing overall economic output (declining) and rising price levels (inflation). Stagnation occurs when SRAS decreases.

A negative supply shock leads to an increase in the natural rate of interest. If real interest rates are not adjusted, there will be excess demand in the labor market. t = 0 unless the real interest rate is adjusted. Then we move into an economy where the market is imperfect.

A supply shock is an unexpected event in which the supply of a product or commodity changes, causing a sudden change in price. A positive supply shock increases output and decreases prices, while a negative supply shock decreases output and increases prices.

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Kelsie is a manager at george's goodies. on a regular basis, kelsie and her subordinates set individual and organizational goals. this process is similar to which component of the control model?

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In case whereby Kelsie is a manager at george's goodies,  on a regular basis, kelsie and her subordinates set individual and organizational goals, the  process is similar to An information system component of the control model.

What is control system in information system?

Information Systems controls can be regarded as the set of procedures as well as the technological measures that is been used in ensuring secure and efficient operation of information within an organization.

It should be noted that  general and application controls are used for safeguarding information systems.

In this case, An information system component of the control model is used.

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Organizational goals. is similar to the control in the procedure whereby managers screen and regulate efficaciously a company and its members are appearing the activities.

Control charts are the most extensively used tool in this section. They show manner manipulate and stability, and also can carry out evaluation. manipulate charts help select out reasons for version inside the new manner, and help grow to be privy to responsive actions that need to be performed earlier than there are too many defects.

Statistics systems controls may be seemed because the set of techniques as well as the technological measures that is been utilized in ensuring relaxed and efficient operation of information inside an agency. It ought to be cited that popular and alertness controls are used for safeguarding statistics systems.

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When reviewing the literature and different types of evidence for your project, what gaps in the findings did you encounter? how could these gaps influence other researchers?

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Gaps inside the Literature are lacking portions or inadequate records in the research literature. those are areas that have scope for further studies because they're unexplored, underneath-explored, or outdated.

We outline a research gap as a topic or vicinity for which lacking or inadequate statistics limits the capacity of reviewers to reach a conclusion for a given question. A research hole can be further advanced, together with through stakeholder engagement in the prioritization, of research desires.

A research gap refers to unexplored or underexplored regions with scope for additional research. while you study papers on subjects of interest, you may recognize there are a few regions that have good sized scope for more research but have no longer been studied by means of other researchers.

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The horizontal summation of the quantities supplied by individuals, firms, states, or even nations at each price over a fixed time period represents the?

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The horizontal summation of the quantities supplied by individuals, firms, states, or even nations at each price over a fixed time period represents the market supply.

Market supply means the total amount of goods or services that are produced by all the producers in a market including individuals, firms etc. in a defined period of time. All the businesses have their own unique supply curve due to their manufacturing infrastructure, cost structure and restrictions. When we add the supply curve of all these individual firms we get the market supply.  

Supply curve is the graphical representation of the amount of goods and services that a firm is willing to produce at a given price of the goods or services.

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What is the common unit of energy used in the united states to describe human energy intake and expenditure?

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The common unit of energy used in the united states to describe human energy intake and expenditure Joule.

The unit of strength in the global gadget of devices is the joule (J). A joule is the energy expended whilst 1 kg is moved 1 m with the aid of a force of Newton. This is the usual general unit of power utilized in human energetics and it ought to additionally be used for the expression of strength in foods.Qualitative techniques, time collection evaluation and projection, and causal models.

Energy is so vital in our each day lives due to the fact it's far a basic human want. We use strength to not best warmth our human-made systems however we use it to chill them as well. strength is essential for getting up away from bed, strolling down the road, or maybe lifting your finger.

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What is the future value of $4,900 deposited each year for 14 years in an account earning 2% per year?

Answers

78,272.3 is the future value of $4,900 deposited each year for 14 years in an account earning 2% per year.

Future value = fv = pmt x ((1+r)^n-1))/r

= $78,272.30

4900*(((1.02^14)-1)/0.02)

Future value = present value x (1+ interest rate)n Condensed into math lingo, the formula looks like this:

FV=PV(1+i)n In this formula, the superscript n refers to the number of interest-compounding periods that will occur during the time period you're calculating for.

FV = $1,000 x (1 + 0.1)5.

Future value is a financial concept that assigns value to assets based on estimated variables such as future interest rates and cash flows. It is useful for investors to know what their investment will look like in five years and what the expected return will be. This concept of taking today's investment value, applying the expected growth, and calculating what the investment will be in the future is the future value.

A future value calculation determines how much a single deposit, investment, or balance will grow.

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What emphasizes extensive user involvement in the rapid and evolutionary constructio?

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RAD methodology emphasizes extensive user involvement in the rapid and evolutionary construction.

A software design approach called RAD was created to combat the rigidity of other conventional software development models, which make it difficult to make changes once the initial development is finished.

Only when a system can be modularized to be deployed incrementally should RAD be employed. If there is a large pool of designers who are available for modeling, it should be employed. Only if the budget allows for the usage of automated code generation tools, should it be employed.

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