Supply is the total quantity of a specific good and service that are available to the consumers in the market while demand is the amount or quantity of goods and services that consumers are able and willing to buy in the market. Equilibrium point is the point at which the demand curve meets the supply curve such that the quantity demanded is equal to the quantity supplied. Therefore, at this point prices in the market will be at equilibrium (equilibrium price) which are not too high or too low.
Answer:
Oikonomos, latinized oeconomus or œconomus, was an Ancient Greek word meaning 'household manager. Hope this helps :)
Explanation:
Interactivity of a marketing decision support system is represented in the given example.
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Explanation
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While analysing the market demands, they need a system which can produce data in an interactive way. This kind of system only helps the above mentioned type of company.
Actually to support her business venture she has implemented the MDSS that is marketing decision support system. This is a computerised support system where it stores all the customers’ data and areas of interest of the customers and it also tracks the purchases they have made.
To analyse the future requirement and to satisfy the customer demands the MDSS has an interactive way of obtaining information to fulfil the company’s aspiration.
The production process is called Mass Customization and it is defined as an example of the assemble-to-order strategy, where a firm's flexible processes generate customized products or services in high volumes at reasonably low costs. Basically it <span>combines the flexibility and personalization of custom-made products with the low unit costs associated with </span>mass<span> production.</span>
Answer: Mixed cost
Explanation:
The cost of the natural gas is a mixed cost. A mixed cost is the cost that combines two types of costs (fixed costs and variable costs). A mixed cost is made up of a fixed cost that doesn’t change when production volume changes and also the variable cost that changes when production volume changes.
Mixed costs are also known as semi variable cost. The natural gas is used constantly with the expense incurred on it continuous, therefore it's a fixed cost. Also, when there is no pizza, the usage of natural gas decreases so it's a variable cost. Since it has attribute of fixed and variable cost, it's a mixed cost.
