Answer:
1. Why is it important for a restaurant to identify a specific target market?
- Restaurants operate on a monopolistically competitive market, that means that a lot suppliers offer differentiated products to a lot of consumers. Therefore, it is important to identify your target market in order to know who you are going to cater in your menus, and marketing activities.
2. How has the Internet made restaurant marketing cheaper and more convenient?
-
Before restaurants used to print fliers and advertise on newspapers or other mass media outlets which is really expensive. Now with the internet, marketing activities (e.g. emails) are much cheaper and faster to carry out.
3. Why are specials and promotions such effective marketing tools in today's economy?
- Competition has increased a lot in the past in every single industry, including restaurants, since people worry more about how they spend there money and more information is available about the different prices of restaurant menus.
4. Explain the difference between primary market research and secondary market research.
- Primary market data is information a company obtains by itself through some type of research study, e.g. surveys, focus groups, etc. While secondary data is information obtained by other sources, e.g. census, world atlas, etc.
5. Explain why a public relations campaign is necessary.
- Public relations campaigns are necessary in order to keep a positive and high reputation, so that the restaurant gets positive press. Bad things go viral instantly now, and it is really hard to deal with them.
<h2>Buying computers refers to "listing what will be spent on items needed to start the business".</h2>
Explanation:
The given definition or terms are associated with the concept of "start up cost".
Listing what will be spent on item needed to start the business: This option also refers to a term called "asset". So buying computers is an asset to the business. No business runs without a computer and it is one of the source that brings business, make business popular, etc.
listing what will be spent on expense to start the business: This statement refers to the term called "cost"
Danger Mouse Inc. sells $1,300 worth of equipment to Matador Company. The effect of cash on the elements of the Matador Company's fundamental accounting equation is that the total assets remain unchanged.
How much are total assets?
- Current assets and non-current assets, often known as fixed assets, are divided up into total assets.
- Short-term assets known as current assets are utilised to cover current liabilities.
- Long-term assets known as fixed assets are employed by businesses to produce revenue and profits.
- This transaction results in a $1,300 drop in the cash balance and a $1,300 rise in fixed assets, leaving the total assets unchanged.
- The entry is as follows:
General Journal Debit Credit
Equipment $XX
Cash $XX
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Answer:
C. 1.25
Explanation:
Mathematically;
Capacity utilization rate= actual output per hour / operating level rate per hour
Actually output per hour= 500units
Operating level rate per hour= 400
Hence,
Capacity utilization rate= 500/400
Capacity utilization rate= 1.25
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