As of May 2016, The Department of Human Settlements has delivered more than 4,3 million houses and subsidies since 1994, benefiting more than 20 million South Africans. The Medium Term Strategic Framework sets out their goal of providing over 1,5 million housing opportunities by 2019. They also want to make sure that poor South Africans have access to adequate housing and better living conditions.
Answer: <em>Option (D). Marketing Myopia</em>
Explanation:
From the given case/scenario, we can state that Cullen and MacNeil’s corporation tends to suffer from Marketing Myopia. Marketing Myopia tends to suggest that the businesses and organization will do much better at the end only if they tend to concentrate on meeting their customers and consumers needs instead of concentrating on just selling the products and services.
Advertising is a paid form of communication, delivered through media from an identifiable source, about a service, product and Idea.
<h3>What is advertising as a form of communication?</h3>
A product or service's customers can be reached through advertising. According to the Advertising Association of the UK, advertisements are messages that are paid for by those who send them and are meant to inform or persuade individuals who receive them.
The advertising industry is made up of businesses that advertise, agencies that produce the ads, media that run the ads, and a large number of individuals who take the ads all the way to the consumer or recipient, including copy editors, visualizers, brand managers, researchers, creative minds, and designers.
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Recording the transaction of providing travel services to the travelers, who paid $22,500 with a balance of $4,500 in the books of the Travel Services Corporation include:
Journal Entries:
Debit Cash $22,500
Debit Accounts Receivable $4,500
Credit Service Revenue $27,000
- To record the provision of travel services for cash and on credit.
Data Analysis:
Cash $22,500 Accounts Receivable $4,500 Service Revenue $27,000
Thus, the total service revenue recorded for this transaction is $27,000.
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A 15 percent increase in the price will result in 18% decrease in quantity demanded.
What is Price Elasticity Of Demand?
Price elasticity of demand is defined as the the change in the rate of consumption of a particular product with respect to the change in its price. It is given as is the ratio of the percentage change in the quantity demanded of a product to the percentage change in price.
Simply put;
Price elasticity of demand = percentage change in quantity demand / percentage change in price
=
; =
We were given that
- Price Elasticity of demand; pEd 1.20
- Increase in the price ; 15%
Plugging in our values, we have that
1.20 =
Percentage change in quantity demanded
=0.18 =18%
Therefore, A 15 percent increase in the price will result to an 18% decrease in quantity demanded.
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