All categories

3 years ago

How needs and wants are associated with business

1 answer:

3 0

Needs and wants are associated with business because it is the basis of the economy. People have needs to purchase like water and food and people also have wants like a special kind of makeup or speaker. These items fuel the economy and businesses.

You might be interested in

Five principles of marketing food items

UNO [17]

Answer:

Explanation: The 5 P's of Marketing – Product, Price, Promotion, Place, and People – are key marketing elements used to position a business strategically.

6 0

3 years ago

Inventories do not include $15,000 of merchandise that was in transit on December 31, which was sold to a customer with terms f.

7nadin3 [17]

Answer:

They both have to be included in the inventory

6 0

3 years ago

Read 2 more answers

Identify the process type of a product-process matrix in which all products follow the same sequence, standard materials and met

Dafna11 [192]

Answer:

The correct answer is Repetitive process.

Explanation:

Repetitive or series processes: those processes that produce items in large quantities, in bulk at regular intervals, where large quantities of homogeneous products are produced, such as the automotive, electronics, toys, food, etc.

Generally these processes are mechanized and even automated, the adjustments of the machines are scarce, the volumes are high, the labor force is little specialized and there is a permanent maintenance service.

4 0

4 years ago

Which of the following is NOT an advantage of establishing a long-term partnership? Group of answer choices Improved innovation

BartSMP [9]

Answer: the correct option is D. Risk is eventually transferred to the other party

Explanation: A Partnership is a type of business arrangement in which two or more parties come into an agreement to engage in business together. These parties are known as partners.

Benefits of long-term partnerships include all the options in the question above except transferring risk to the other party, because the risk in partnerships cannot be transferred, risks are shared by all members of the partnership.

6 0

3 years ago

A concert promoter needs to make $68,400 from the sale of 1880 tickets. The promoter charges $30 for some tickets and $50 for th

Harman [31]

Answer:

1280 of the $30 tickets and 600 of the $50 tickets

Explanation:

If x represents the number of $30 tickets and y represents the number if %50 tickets then:

(a) the sum of the tickets sold is 1880 = x + y

(b) how much money is received from the sale of $30 tickets = 30x

(d) the total amount received from the sale is $68,400 = 30x + 50y = $68,400

(e) Solving the simultaneous equations, if 1880 = x + y, then x = 1880 - y. Substitute this in total amount received equation and solve for y i.e. 30(1880 - y) + 50y = $68,400

56,400 - 30y + 50y = $68,400

20y = 12,000

y = 600 tickets (we have to sell 600 of the $50 tickets)

Step 2. Substitute the y figure to get the x amount i.e. 30x + 50(600) = $68,400

30x + 30,000 = $68,400

30x = $38,400

x = 1280 tickets (we have to sell 1280 of the $30 tickets)

3 0

4 years ago