Price is the element of the marketing mix that corresponds to what the buyer gives up in the marketing exchange.
<h3 /><h3>What is the marketing mix?</h3>
They are the set of activities performed by marketing to promote a product or service and increase the profitability of a company. The four Ps of marketing are:
- Product
- Price
- Place
- Promotion
Therefore, the objective of the marketing mix is to increase the value of the brand and its positioning through the creation of value for the consumer.
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Answer:
$2,000
Explanation:
Compensatory damages can be claimed by a plaintiff in order to compensate for incurred losses or injuries. The plaintiff must prove that he/she suffered damages due to the defendant's negligence or unlawful conduct.
In this case, Dunlap lost $2,000 (= $5,000 - $3,000) because Foster didn't perform, so he can sue in a civil court to recover the $2,000.
Economics deals with the allocation and efficient utilization of scarce resources as human wants are unlimited and resources to satisfy those needs are limited in nature. Hence, to utilize the resources in the optimum possible way and meet the demands of humans, the economy allocates scarce resources.
<h3>How Microeconomics allocates scarce resources?</h3>
Microeconomics analyses how scarce resources are allotted efficaciously to the production of products and services. It facilitates in resolving the critical financial issues of the economic system at an individual level.
Thus, in this manner, Economics deals with the allocation and efficient utilization of scarce resources as human wants are unlimited and resources to satisfy those needs are limited in nature.
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Answer & Explanation:
Depreciation a/c ...dr
Loss a/c .....dr
Charity a/c .. dr
To machine a/c
- Machine amount = Machine cost value (eg, lets suppose = 2,000,000)
- Charity amount = fair value of machine at time of donation = 1,4300,000. It is the amount that could have been otherwise received on machine sale, but is given as charity.
- Accumulated depreciation is the total depreciation on machine upto date (eg, lets suppose = 5,00,000)
- Loss = (Machine cost - accumulated depreciation) - current fair value
Eg: If cost = 2,000,000 & accumulated depreciation = 5,00,000. Machine value should be = 2,000,000 - 5,00,000 = 15,000,000. The fall in value from 15,000,000 to 1,430,000 = 70,000 is loss on machine disposal.
What are the other questions called?
