Answer:
d.) laissez-faire
Explanation:
Laissez-faire is one of Adam Smith's ideas which made Mark think of starting a restaurant because the business is free from government intervention. Also because Mark would be the sole owner of the business.
<span>Brand awareness facilitates decision-making and is especially important for which type of consumer goods: public goods.
Public goods are non-excludable items so there is fair game for anyone and everyone in the market for an item to make this purchase. Because this items are everywhere, there is normally a decent amount of competing brands with the same product though packaging, quality and quantity can differentiate. Brand awareness helps the consumer know which brand to purchase when there are dozens to choose from. </span>
Answer:
Customer and Product Margin under Activity-based Costing and Traditional Costing
True Statements:
1. If a customer orders more frequently, but orders the same total number of units over the course of a year, the customer margin under activity based costing will decrease.
2. If a customer orders more frequently, but orders the same total number of units over the course of a year, the product margin under a traditional costing system will be unaffected.
Explanation:
Customer Margin is the difference between the total revenue generated from a customer minus the acquisition and service costs. In the above instance, the customer margin decreases because of the costs of servicing the customer's frequent orders. Customer service costs are usually higher with more frequent orders, when activity-based costing is employed because frequent orders increase the activity level and the associated costs.
Product Margin is the profit margin generated per product. It is the markup on the cost of the product. It shows the difference in amount between the selling price and the manufacturing cost. Frequent orders cannot change the product margin under the traditional costing technique unlike it does with the activity-based costing technique.
If the price of the item is $15.00 per unit and the employees costs $125 each, Three employees should the firm hire to maximize their profit.
How do firms maximize profit?
All firms maximize profits when their marginal cost is equal to the marginal product. This dollar amount should also be the selling price that maximizes profits.
What is meant by profit maximization?
Profit maximization is a process business firms undergo to ensure the best output and price levels are achieved in order to maximize its returns. Influential factors such as sale price, production cost and output levels are adjusted by the firm as a way of realizing its profit goals.
What are the goals of profit maximization?
Profit maximization is the process by which a business arranges its prices and cost structure to achieve the highest possible profit. The central goal of the organization is to increase its profits
Learn more about profit maximization:
brainly.com/question/21794386
#SPJ4
Answer:
Authority - Responsibility Balance & Incentive Development.
Explanation:
Authority refers to the power to command, give orders to somebody. And enjoying the position of having right to get it obeyed.
Responsibility refers to being in a position of accountability, answerability for an allocated task or job & its performance.
For Eg : A manager given responsibility to complete a task of production targets achievement, is also given authority to command the entire staff at the production site.
Joe had problem while working for someone else that :- he had responsibility to complete employers allocated task, but may be not given enough authority to do so, thats why he felt he is being 'commanded by, working for' someone else. Also, he doesn't owe the rewards of his acts, so lacks incentive.
Being an entrepreneur will entitle him with managerial responsibilities, but at the same time will also give him higher authority to take his own independent decisions. And, he is himself responsible for his acts, will bear losses or enjoy profits for himself. So, it also incentivises him to work for himself.
