3 years ago

Traditionally, life insurance companies, pension funds, and brokerage firms are known as ________.

Business

1 answer:

Elodia [21]3 years ago

3 0

Nonbanks.......................................................

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Garvin's ________ definition of quality states that if the customer is satisfied, the product has good quality.

docker41 [41]

Garvin's USER BASED definition of quality states that if the customer is satisfied, the product has good quality.
David Garvin is an Havard professor who wrote a book titled 'Managing quality'. In his book, Garvin summarized five major approaches to defining quality. The approaches are: product based view, user based view, transcendental view of quality, manufacturing based view and value based view.<span />

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3 years ago

What is marketing and what it its purpose? Why are some businesses giving out free samples to their customers? Does your favorit

Roman55 [17]

The main purpose of marketing is for promoting sales number and profit. Giving free products can help bring people to buy more and help advertise your product to an audience that is unfamilar with your brand.

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4 years ago

Suppose that velocity is 3 and the money supply is $600 million. According to the quantity theory of money, nominal output equal

Tamiku [17]

Answer:

$1,800 million

Explanation:

According to the quantity theory of money , velocity = nominal output / money supply

If velocity is 3 and money supply is $600 million, nominal output = $1,800 million .

I hope my answer helps you

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3 years ago

Gomez runs a small pottery firm. He hires one helper at $13,000 per year, pays annual rent of $5,500 for his shop, and spends $2

alisha [4.7K]

Answer:

(a) $35,000

(b) $8,000

Explanation:

(a) Accounting profit:

= Total revenue - Explicit cost

= $75,000 - (wages + Annual rent + Material cost)

= $75,000 - ($13,000 + $5,500 + $21,500)

= $75,000 - $40,000

= $35,000

(b) Economic Profit:

= Total revenue - Explicit costs - Implicit costs

= $75,000 - (wages + Annual rent + Material cost) - (Income from investment + Earnings as a potter + Worth of entrepreneurial talents)

= $75,000 - ($13,000 + $5,500 + $21,500) - ($5,500 + $19,000 + $2,500)

= $75,000 - $40,000 - $27,000

= $8,000

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4 years ago

In economics, why must consumers, businesses, and governments make choices?

Rainbow [258]

Due to scarcity. There exist unlimited wants but only scarce amount of resources to meet those wants so items must be allocated through a system of prices or through exchange.

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3 years ago