Insurance companies expend a lot of effort marketing their offerings, mainly due to the fact that insurance is an unsought product that consumers don't normally think about much.
<h3>What are unsought products?</h3>
Although a buyer may feel pressured into purchasing a product they do not want, unsought commodities are frequently bought under certain circumstances, so a marketing strategy that harasses consumers into purchasing the product will be seen as immoral. A notable example of an unasked-for good is funeral services.
Unsought goods are those that consumers are unaware of or hardly ever think about purchasing and whose acquisition is motivated by a combination of risk or worry about harm and lack of desire. Examples of well-known but unpopular things are funeral services, encyclopedias, fire extinguishers, and reference books.
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The answer is false! Businesses make finished products and then proceed to sell them back to the households once they have a completed product. On the other hand, households are able to provide resources such as capital, cars, or land to the businesses. This is an ongoing cycle where the household provides the needed resources, the businesses utilize those resources into finished products, and then sells the finished products back to household consumers.
Answer:
A. Line of credit
Explanation:
Renita is using a line of credit because her financing option has the following characteristics:
- A maximum amount she can withdraw, in this case $50,000
- She can draw from that maximum amount as she needs, for example, she could have one month $30,000, and the following month $20,000, effectively exhausting her credit in a two-month period.
- She can pay off her debt either at specified periods of time, or in full at any time.
All those characteristics above are specific of a line of credit.
Cost of equipment = $120,000
Depreciable cost = $90,000
Useful life = 3 years or 30,000 hours of operation
Depreciation per year = Depreciable cost/3 = 90,000/3 = $30,000
Yr 1 depreciation expense = $30,000
Yr 2 depreciation expense = $30,000
Yr 3 depreciation expense = $30,000
Therefore, the correct answer is b.
Answer: $59,780.65
Explanation:
To find out what she would accept today, we need to apply the present value formula which is= V.P(1+i)^-n
So, $80,000(1+6%)^-5= $59,780.65
