Answer:
D. Word of Mouth
Explanation:
Word of mouth also referred to as viva voce, is the passing of information from person to person using oral communication,
Word of Mouth can be as simple as telling someone the time of day.
An Example of Word of mouth is Storytelling; A common form of Word Of Mouth communication where one person tells others a story about something that really happened or a fictional event.
In marketing, Word of Mouth is An unpaid form of promotion or advertisement in which satisfied customers or users of a particular product or services tell other people how much they like a business, product or service.
Word of Mouth advertising is very important for every business, because each happy customer can steer dozens of new customers to come and patronise you.
From the question, Kitty's company are making good sells and have many customers despite their location because of the positive and delightful things their satisfied customers say about them to other people. Thus Miss Kitty is benefiting from A positive Word Of Mouth.
The proposed response of Adam Smith based on each scenario is given below:
<h3>Scenario 1</h3>
He would say that the pricing system should remain the main determinant of the market and the interference of the government was uncalled for.
<h3>Scenario 2</h3>
He would side with the free market system and be an opponent of the law that frowns on importation.
<h3>Scenario 3</h3>
He would support the suspension of the antitrust laws.
<h3>Scenario 4</h3>
He would believe that markets should not be regulated and the free market system should continue.
<h3>Who is Adam Smith?</h3>
He is the father of modern economics for his work in pioneering ideas such as free trade and the gross domestic product
Hence, we can see that the proposed response of Adam Smith based on each scenario is given above.
Read more about Adam Smith here:
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Answer:
In summary, labor supply is the total hours that workers or employees are willing to work at a given wage rate. Changes in income, population, work-leisure preference, prices of related goods and services, and expectations about the future can all cause the labor supply to shift to the right or left.
Answer:
0.5
Explanation:
A screenshot is attached to get the full solution
Since the coefficient is < 1, it is inelastic
Answer:
The correct answer is (C)
Explanation:
Economics is all about allocating limited resources to attain maximum utility. In that regard, efficiency can be achieved by giving contracts to companies with higher productivity. These companies are all about attaining maximum productivity by investing limited resource. More productivity will increase the utility, and that will improve economic efficiency. So it is critical to give projects and contracts to certain companies which can increase the overall productivity.
