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Cerrena [4.2K]
3 years ago
12

What is the different between economic profit and accounting profit

Business
1 answer:
Alla [95]3 years ago
7 0
Economic profit consists of revenue minus implicit (opportunity) and explicit (monetary) costs, accounting profit consists of revenue minus explicit costs.
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Sheila and Jim live in an island where they are the only two workers. Sheila can either catch 10 fish or gather 40 pounds of ber
Firlakuza [10]

Answer:

SHEILA

Explanation:

A person has comparative advantage in production if it produces at a lower opportunity cost when compared to other people.

Sheila's opportunity cost in producing berries = 10/40 = 0.25

Jim's opportunity  cost in producing berries = 8/24 = 0.33

Sheila has a lower opportunity cost in the production of berries and thus has a comparative advantage in the production of berries

7 0
3 years ago
Mobile marketing has a unique ability to empower users by connecting with them individually and continuously. This socially netw
Luba_88 [7]

Mobile marketing has a unique ability to empower users by connecting with them individually and continuously. This socially networked world will lead to connected users having more direct interactions with sellers.

What is Mobile marketing?

  • Mobile marketing is a multi-channel online marketing technique focused at reaching a specific audience on their smartphones, feature phones, tablets, or any other related devices through websites, e-mail, SMS and MMS, social media or mobile applications.
  • Mobile marketing can provide customers with time and location sensitive, personalized information that promotes goods, services, appointment reminders and ideas.
  • In a more theoretical manner, academic Andreas Kaplan defines mobile marketing as "any marketing activity conducted through a ubiquitous network to which consumers are constantly connected using a personal mobile device".
  • Mobile marketing may include promotions sent through SMS text messaging, MMS multimedia messaging, through downloaded apps using push notifications, through in-app or in-game marketing, through mobile websites, or by using a mobile device to scan QR codes.
  • Proximity systems and location-based services can alert users based on geographic location or proximity to a service provider.
  • Mobile marketing is an indispensable tool for companies large and small as mobile devices have become ubiquitous.
  • The key players in the space are the brands (and companies that they represent through advertising), and service providers that enable mobile advertising.
  • Mobile advertising targets audiences not so much by demographics but by behaviours.

To learn more about mobile marketing: brainly.com/question/4232483

#SPJ4

7 0
1 year ago
When the US government becomes aware of economic changes, the discovery is most likely to influence 1. how the nation allocates
snow_tiger [21]

Answer:

1. How the nation allocates resources

Explanation:

Government is the chief decision maker in any economic model because their power enables to allocate nation`s resources among economic unit. As such they keep watch on the economic changes and trends in order to make the best economic decision for the nation. When government becomes aware of economic changes, it will try to allocate resources efficiently and effectively based on signal given by the changes.

For example, if US government is aware that the economy is nearing recession, it will be put in preventive measures to escape the intending recession and make sure it allocates its scarce in efficient way among the economic units by spending more on capital projects, raising social empowerment spending and doing other necessary things.

So the discovery of economic changes will most likely influence how the nation allocates resources.

5 0
3 years ago
What is the first step of creating a federal budget A. Congress votes on requirements for a budget plan. B. Executive agencies s
Yakvenalex [24]

Answer:

C. State governments submit their budget proposals.

Explanation:

The Federal budget is a budget for the entire country.  It is an estimate of the expected government revenue and expenditure for a fiscal year.

The first step in the federal budget preparation involves submitting proposals by the government department and agencies. These are the federal agencies such as security agencies. They submit their expenditure proposal to the Whitehouse. All agencies' proposals make up part of the president's budget request.

7 0
3 years ago
Team members get to know each other in the:
Andrews [41]

Answer:

Explanation:

Team members get to know each other in the forming stage of group development. It is the period of orientation and when team members become acquainted with each other. However it just the first stage in the long process and people view each other as strangers.

7 0
3 years ago
Read 2 more answers
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