Answer:
Price Skimming
Explanation:
Price skimming is one kind of price-setting strategy where marketers set a relatively higher price when the product launch initially in the market. Generally, the producer sets a higher price rather than it should prevail in the market, and later on, the price goes down due to lower demand. Price skimming strategy only applicable to a new product that is about to launch in the market. It is generally done by fancy advertising of the product.
Because it is you will find the answer soon and hopefully I don’t know
Social responsibility in marketing refers to marketing philosophies, strategies, practices, and actions whose main goal is to improve society and safeguard the environment by using environmentally friendly goods and methods.
SOCIAL RESPONSIBILITY: WHAT IS IT?
Sustainability can be attained through social responsibility. Any business or system can increase its chances of long-term sustainability and success by adopting fundamental social responsibility principles including accountability and transparency.
An organization's accountability for the effects of its choices and actions on people, the environment, and society through openness and moral behavior that: contributes to societal well-being and sustainable development, including health reflects an awareness of stakeholder expectations is in accordance with all current laws and international standards of conduct is incorporated across the business and used in partnerships.
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Because the additional output is produced with an increasing input in the production signals an example of <u>diminishing returns</u> to specialization.
<h3>What is a
diminishing returns?</h3>
A diminishing returns to specialization is known to occurs if more units of resources are required to produce each additional unit.
In conclusion, the additional output which is produced with an increasing input in the production is an example of <u>diminishing returns</u> to specialization.
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Answer:
The Journal entries are as follows:
(i) On December 31,
No entry
(ii) On December 31,
Amortization expense A/c Dr. $16,000
To Patents A/c $16,000
(To record the amortization expenses)
Workings:
Amortization expense:
= (Purchasing cost of patent ÷ Estimated useful life) × Time period
= ($144,000 ÷ 6) × (8/12)
= $24,000 × (8/12)
= $16,000
