Answer:
B. it helps educate consumers about competitive products.
Explanation:
In the free-market economy, entrepreneurs have the freedom to start and operate any business of their preference. They are no restrictions on the number or type of business to establish. Due to this reason, business competition is very intense. Producers provide a variety of products and services that offer solutions to customers' problems.
Marketing becomes important as it informs consumers of the various goods and services available. It equips customers with the knowledge to enables them to choose between products.
Answer:
The need for the formal management theories were important as seen by the Industrial revolution, in the construction of the Egyptian pyramids and many more.
Explanation:
Management theories are concepts that surrounds the management theories that includes tools such as guidelines and framework which are implemented in the modern day organizations.
We can see the early examples of the management practices that are used in the construction of arsenal of the Venice and also when Egyptian pyramids were constructed. One more example is the industrial revolutions where it was more economical to manufacture the produce or manufacture at the factories than at home. Here managers needed formal management theories to control and guide them.
Today the managers used the concepts of the scientific management at times where they analyze the normal work tasks that needs to be performed, to use the time as well as motion study to eliminate the wasted motions and to hire the best qualified worker for the job.
The theories are best selected to structure their organizations for the resources to be used efficiently and effectively.
Answer:
23.07%
Explanation:
For computing the inflation rate first we have to determine the price index for 2011 which is shown below:
Price index for 2011 is
= (market basket of goods and services cost in year 2011) ÷ (market basket of goods and services cost in year 2009) × 100
= ($160) ÷ ($130) × 100
= 123.07%
Now the inflation rate is
= (Price index for 2011 - price index for 2009) ÷ (price index for 2009) × 100
= (123.07 - 100) ÷ (100) × 100
= 23.07%
And, the price index for 2009 is
= ($130) ÷ ($130) × 100
= 100%
