Answer:
Option (B) is correct.
Explanation:
Consumer surplus refers to the benefit or surplus that a consumer get from purchasing the product. It is the difference between consumer's willingness to pay and the selling price of the product.
If the outcome of this difference is positive then there will be a consumer surplus and if the outcome of this difference is negative then there will be no consumer surplus.
Total consumer surplus:
= consumer surplus for Jung + consumer surplus for Eddie
= ($85 - $70) + $0
= $15
Eddie has zero consumer surplus because selling price is higher than his willingness price for the jacket.
Answer:
The two factors that determine the form of ownership of a business are;
1. Start-up costs
2. Level of control desired
Explanation:
The form of ownership of a business defines the structure with which the business will be governed. There are different form of business ownership that exist, namely; sole proprietorship, partnerships and corporations. They all differ in different aspects as shown;
1. Sole proprietorship
A sole proprietorship as the name suggests is a business structure where there is only one owner. The owner is in charge of the business profits and liabilities. It is generally a simple business structure that needs a small company, where filing tax returns are very easy.
2. Partnerships
A partnership is a business structure where two or more parties come together to form a business. The parties are responsible for the profits depending on the amount contributed by each party. Each individual always pool their resources towards the successful completion of a given project therefor each party is liable for their own profits and risks.
3. Corporations
Corporation are similar in a way to partnerships since they involve two or more parties with the major difference being that a corporation is a separate legal entity. So the liability is always to the corporation itself and not to the parties that constitute the corporation.
Two factors that determine the form of ownership of the business are;
1. Start-up costs: if you intend to minimize the cost of starting up you business then a sole proprietorship is the best option due to its simplistic nature and very minimal start-up expenses.
2. Level of control desired: Depending on the level of control one would like to have in the business regarding decision making and the daily operations of the business. If one needs a larger level of control, the best option would be sole proprietorship, while minimal control would require a coorporation form of ownership.
Answer:
brand risk, demand risk, price risk, product development
Explanation:
marketing risk is a potential for losses and failures in marketing.
brand risk : this is the risk that the product would lose it value due to competition and failures in declining brand awareness. it is likely to to affect a new product if prevailing measures are not taken to curb such risk.
demand risk: this is the risk that the demand for the product being advertised will fall or fail to materialized. this is likely to occur when there is a shift in customer needs or choice.
price risk: this is related to a risk that the price tag on the product campaign may vary higher than competitor price.
product development: this risk is related to launching and developing a new product. there is likely hood that new product has a higher percentage of not succeeding in the market.
Magma (from the Latin magma and this from the Greek μάγμα, "pasta") is the name given to the masses of molten rocks from the interior of the Earth or other planets. They are usually composed of a mixture of liquids, volatile and solids.
The most common magmas respond to three main types: basaltic, andesitic and granitic.
Basaltic magmas: can be tolelic, low in silica (<50%) and produced in the back, or alkaline, rich in sodium and potassium, produced in areas of the interior of tectonic plates. They are the most common.
Answer:
limited problem solving
Explanation:
Limited problem solving -
It refers to the process of buying certain goods and services , when the person have only limited knowledge about the product , is referred to as limited problem solving .
People having lack of knowledge may even end up buying the wrong product .
Hence , from the given scenario of the question ,
The correct term is limited problem solving .
