Answer:
A triple indemnity rider establishes that the insurance company will pay double or triple (depends on the accident and the specifics of the policy) the original insurance amount in case the insured dies from an accident as long as the insured was not responsible for the accident. In this case, since the insured was responsible for causing the accident, his family will receive the face value of the policy ($1,000,000) and the triple indemnity rider clause will not be enforced.
Answer:
Variable Costs : Supervisory $5,000
Fixed Costs : Salaries $5,000
Mixed Cost : Maintenance $4,000
Explanation:
Variable Costs
These costs vary in direct proportion with the amount of production.
Examples : Materials and Labor
Fixed Costs
Theses costs do not vary with amount of production but stays the same in the relevant range.
Examples : Salaries of Mangers
Mixed Costs
These contain a variable cost element and a fixed cost element
Examples : Telephone Bill and Maintenance Costs
Answer: This tendency to make assumptions is referred to as CLOSURE.
Explanation: CLOSURE is defined as the experience of an emotional conclusion usually to a difficult period. This is usually done bearing in mind that the experience is open to more than one meaning, interpretation or explanation. In this case, the information given to the employees is a polysemy/ambiguous making their assumptions referred to as closure.
Niche marketing strategy is a marketing strategy in which the focus is on small but profitable market segments.
Niche marketing is defined as the strategy of channelizing all the marketing efforts towards one well-defined segment of the population. There is one important thing to understand that ‘niche’ does not exist, but it is created by a smart marketing technique and identifying what the customer wants.
This can be done if the company knows what the customer needs and then tries to deliver a better solution to a problem which was not presented by other firms. A niche market does not mean a small market, but it involves specific target audience with a specialized offering.
To know more about niche marketing here:
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It is referred as market control<span />
