Answer:
Product
Explanation:
Product concept is based on general behavior of consumer. According to this concept consumers prefer product which has the best features, quality and performance given the price of product. Product concept is one of the important marketing strategies in order to match the expectation and demand of customers. Product concept facilities in giving identity to the product in relation to other similar product in the market. This concepts consistently asses the needs of consumer by using research and survey of market and consumer. Based on it features of products are modified to make product better.
Since this problem statement is discussing about desirable attributes of products and improvement in product it pertains t product concept as defined above.
Answer:
substantiated.
Explanation:
EZ Workout is not saying that Fit Step is good for you because it will make you feel better and fitter, it is saying that it measurably increases the length of the lives of it users.
When an advertisement states alleged facts it must be able to provide proof of evidence or claim substantiation, if not, they can be accused of deceptive advertising.
Answer:
Explanation:
The adjusting entry to record the credit losses is shown below:
Bad debt expense A/c Dr $45,000
To Allowance for doubtful debts $45,000
(Being bad debt is recorded)
The credit loss computation is shown below:
= Credit sales × estimated percentage
= $900,000 × 5%
= $45,000
For recording this transaction, we debited the expense account and credited the contra asset account.
Answer:
C) 0.5; The product is inelastic.
Explanation:
Elasticity of supply measures the responsiveness of quantity supplied to changes in price.
Elasticity of supply = percentage change in quantity supplied / percentage change in price
Elasticity of supply = 2% / 4% = 0.5
When the coefficient of elasticity of supply is less than one, supply is inelastic.
Inelastic supply means that a change in price would have little or no effect on the quantity supplied.
I hope my answer helps you
Answer:
B) People face trade-offs
Explanation:
A trade-off happens when you have to balance two (or three in this case) opposing situations. In economics all resources are scarce, and time is the only resource that everyone shares equally. Bob is facing opportunity costs, i.e. if he chooses to train one activity he cannot train the other.
Bob has to decide how to divide the time he can spend training. If he chooses running, he can´t swim or ride a bike. So he has to balance the time spent on each activity, probably depending on which sport he needs to train the most.
