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2 years ago

What are the three basic categories of consumer goods? Briefly explain each and clearly differentiate among them.

Business

1 answer:

inysia [295]2 years ago

7 0

The three main types of consumer goods are:

durable goods
nondurable goods
services.

Marketing can be regarded as the activity as well as set of institutions, which helps in the establishment of communicating between consumers and manufacturer.

The four basic ideas that combine to represent marketing are:

product
price
place
promotion

The relationship between marketing and the economy is that economy can impact marketers so as to push their products to consumers.

<h3>What is marketing?</h3>

Marketing can be regarded as the activity as well as set of institutions, which helps in the establishment of communicating, as well as delivering of value for customers.

Learn more about consumer goods at:

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Andreas93 [3]

Answer:

does not achieve a mutually beneficial equilibrium because there is a lack of coordination of the actions of people and businesses

Explanation:

From the question, we are informed about Craig and Kris who were walking directly toward each other in a congested store aisle. Craig moved to his left to avoid Kris, and at the same time Kris moved to his right to avoid Craig. They bumped into each other. This example illustrates the concept of coordination failure and in this case, This idea relates to macroeconomic instability because the economy does not achieve a mutually beneficial equilibrium because there is a lack of coordination of the actions of people and businesses. Coordination failure can be regarded as failure that takes place as a result of group of firms want to achieve a more desirable equilibrium, but resulted to failure as a result of their decision making not been coordinated

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3 years ago

What is the principle of the law of supply?

seropon [69]

B. The higher the price, the larger the quantity produced.

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3 years ago

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The following information is taken from the production budget for the first quarter: Beginning inventory in units 1000 Sales bud

olga2289 [7]

Answer:

The correct answer is 408,000 units

Explanation:

Computing the finished goods units to be produced during quarter is as:

= Desire units - Beginning inventory units

where

Desire units is 3,000

Beginning inventory units is 1,000

So,

=3,000 units - 1,000 units

= 2,000 units

Now, computing the finished goods units as:

Finished goods units = 2,000 units + Sales budgeted for the quarter

Finished goods units = 2,000 units + 406,000 units

Finished goods units = 408,000 units

NOTE: It should be 408,000 not 40800.

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3 years ago

Last year, Richmon Company produced 10,000 units and sold 6,000 units at a price of $20. Costs for the last year were as follows

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Answer:

The correct answer is B: $46,400

Explanation:

The difference between absorption and variable costing is that the first one includes fixed manufacturing overhead in the manufacturing cost.

Giving the following information:

Absorption costing:

Direct materials= 30,000

Direct labor= 38,000

Variable factory overhead= 8,000

Fixed factory overhead= 40,000

Total= $116,000

Unitary cost= 116000/10000= $11.6

Ending finished inventory= 4000*11.6= $46,400

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3 years ago

The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses i

o-na [289]

Answer:

From the attached excel file, we havee:

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Explanation:

Note: See part a of the attached excel file for the flexible budget performance report that shows both revenue and spending variances and activity variances for September.

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Download xlsx

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