Answer:
The correct option is D,economic costs are generally higher than accounting costs because economic costs include all opportunity costs, while accounting costs include explicit costs only.
Explanation:
Economic costs are usually higher because economic costs comprises of both implicit and explicit costs whereas accounting profit calculation only consider the explicit costs.
Explicit costs are the costs that require actual cash flows from the business such as the payment of rent,salaries and many more.
However,implicit costs are not real costs in actual term,they are costs of forgone benefits such as the salaries the business owner if he takes employment elsewhere.
The resource based model.
The resource based approach says organizations should look inside their company for sources of improvement and competitive advantage rather than looking outside to their environment (such as their industry).
Answer:
1) the product launch
Explanation:
The product launch process is referred to the systematic research and planning by which it could be ensured that costumers will receive a new product positively.
In this case, XYZ firm has been hired to develop market research to confirm the target market of the product and hot it will be positioned in it.
College education provides an investment in your future earning capacity. By investing resources today, you are assuming that your return on this investment will be paid through your future annual salary. This future annual salary is assumed to be greater than if you chose not to invest your resources in a college education.
