Answer:
Demographic factor is the correct option.
Explanation:
The demographic variables can affect our business. Demography can be used to know the product's performance and the buying behavior of consumers. It helps companies to identify the key customers. After the identification, they can target these customers with customized advertisements and promotions. It helps the company to maximize its sales.
Income is one demographic variable. A person's income decides his buying habits. People having towards the low end of the salary band tend to buy less expensive products. While those with high salaries tend to buy expensive products. It is an example of a demographic factor.
A local Chamber of Commerce plans a seminar on “the social responsibility of business in our community.” What does that term reference?
( The expectations that the community imposes on firms doing business inside its borders.) correct answer of your question ✅
Answer:
A family in a distant state gives bottled water to its dog, but a family in the hurricane area cannot find bottled water to drink.
Explanation: Hurricane is a natural phenomenon which occurs as a result of violent storms developing and accumulating in a given area, Hurricane can be very devastating destroying lives and properties. the most misallocation of resource considering the options is when a dog in A family in a distant state gives takes bottled water, but a family in the hurricane area cannot find bottled water to drink.
To be able to make a gross margin of around $32000, the total sales must be around $32,324.
<h3>What is gross margin?</h3>
Gross margin is the total amount of cost benefitted by the sales revenue and the cost derived for the goods being sold. As per the information given above, the total sales calculation will be as $32,324.
Putting the value of total sales in the given formula, the gross margin is $32,000 when the cost of goods being sold has increased by around 1 percent.
Hence, the gross margin will be $32000 when the total sales will be $32,324 and the costs of sales increases by one percent.
Learn more about gross margin here:
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Answer:
Consumer's surplus is $5 and the producer's surplus is $4.
Explanation:
1) Consumer surplus is the extra amount a consumer is willing to pay for a product above the price they actually do pay.
Consumer surplus = maximum price willing to pay – actual price
Maximum price willing to pay = $25
Actual price = $20
Consumer surplus = $25 – $20
Consumer surplus = $5
Therefore, the customer saved $5 as a consumer surplus which he/she can spend on some other goods or services.
2) Producer surplus is the difference between what price producers are willing and able to sell a good for and what price they actually receive from consumers (market price).
Producer surplus = Actual price – minimum price willing to accept
Actual price = $20
Minimum price willing to accept = $16
Producer surplus = $20 – $16
Producer surplus = $4.
