Your potential market includes the demographic groups that are not currently your customers but could become customers in the future.
Answer:
The correct answer is option E.
Explanation:
Income elasticity of demand measures the change in quantity demanded of a product because of a change in the income of the consumer. It is calculated as a ratio of change in quantity demanded and change in income.
At the income level of $300, the consumers buy 5 bars of chocolate. When the income increases to $330, the consumer buys 6 bars of chocolate.
The income elasticity of demand is
= 
= 
= 
= 
= 2
Since the income elasticity of demand is positive, this implies that chocolate is a normal good.
<span>I believe the answer for you question would be life-cycle</span>
Answer: Statement D
Explanation: If a company accept a special order then it must be doing so in order to gain or maximize its profits and the profits will only increase when there is an increase in net income.
Thus, statement D is correct implying that net income will increase when the sales price in greater than the variable cost.
Answer:
The viewpoint that business should be privately controlled and not controlled by the government is a perspective of a ____capitalist____ economy.
Explanation:
For example, the US economy provides a good example of a capitalist economy. A capitalist or market economy is also known as capitalism. It is an economic system whereby private individuals or businesses own capital goods or means of production. Therefore, the production of goods and services is based on the market forces of supply and demand. Since individuals and firms fix prices of and decide what goods and services to produce, rather than through central planning by the government, it is also known as a market economy. The opposite is called a command economy, characterized by central government planning.
