Because if someone else buys a house for you and it's dirty you wouldn't like it.
The next step in the five-step marketing research approach after defining the problem and developing the research plan is to:
- Collect relevant information.
<h3>What is Research?</h3>
This refers to the use of systems to find out the reasons why things occur, the way the occur and the frequency of occurrence based on the scientific method.
With this in mind, we can see that in the research plan, there are steps to be taken and from there, after defining the problem, we would develop the research plan and then collect relevant information.
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Answer:
b. opportunity loss.
Explanation:
The opportunity loss means the loss that arises by taking the difference between the profit i.e. optimal and the actual payoff received for a specific decision. It could occurred at the time when the best alternative is not picked up.
Therefore according to the given options, the option b is correct as it meets the criteria given in the question
Hence, all the other options are incorrect
If an embargo is placed by England on France, England will produce more bread and France will produce more cheese.
<h3>What is a comparative advantage?</h3>
A country has comparative advantage in production of a good if it produces at a lower opportunity cost when compared with other countries. Opportunity cost is the cost of the next best option forgone when one option is chosen over other options.
A country that has a comparative advantage in the production of a good should produce that good and import the goods for which it does not have a comparative advantage in its production.
If an embargo is placed, countries would not be able to trade so they would have to increase the production of goods they would have otherwise imported.
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The total retained earnings on 31st December 2016 is $197,100. The journal entry are attached below.
<h3>What is Retained Earnings?</h3>
Retained earning is basically the profits of the company which is kept aside to meet the future requirement of the company. It the amount which is left over after deducting all cost such as direct cost, indirect cost, income taxes and dividend.
The retained earning is used in the future projects or for buying the equipment for the company.
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