Answer:
b.
Explanation:
According to the music market study conducted by Matthew Salganik, Peter Dodds, and Duncan Watts demonstrated that group influence shapes our personal taste and decisions regarding music. Just like in high school, groups have the ability to influence other peoples decisions. Especially those who look to those groups as superior. Which was demonstrated by the study mentioned in the question in regards to music.
With respect to the environment in which a business operates, factors such as competition, political and legal forces, and economic climate would all be classified as uncontrollable elements.
What is a controllable element of the marketing environment?
- To adapt to shifting market conditions, consumer preferences, or business goals, the controllable variables can be changed throughout time as well as typically in the short term.
- Products, prices, promotions, distribution, and research efforts are among the variables that can be controlled.
What is the macro environment?
The main uncontrollable outside factors (economic, demographic, technological, natural, social and cultural, legal, and political) that have an impact on a firm's performance and decision-making.
Learn more about uncontrollable elements
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Answer:
True
Explanation:
Belonging to a professional organizations provides opportunity to share knowledge and experience and learn from others. It also avails one opportunity to share contacts with other professionals who may be of help in securing business opportunities and resolving business issues .
Answer: Group A
Explanation:
Price Elasticity of demand refers to the sensitivity of quantity demanded given a change in price. In other words, how much will quantity demanded change if price changes. Higher elastcities mean that when prices change, their quantity demanded changes more. For instance, an elasticity of demand of 2 means that when prices rise by 2%, demand will decrease by 4%.
The group that will be paying the most therefore will have to be the group that is least sensitive to paying that high price. That would be Group A. As they are not very sensitive to price changes with an elasticity of 0.2, the Monopoly can increase their price to a higher point than others knowing that they won't demand less goods.
Answer: False
Explanation:
While Proprietorship do indeed have the tax advantage of not having to pay Corporate income tax, the same cannot be said for the ease at which they can raise capital.
In general, Proprietorships find it hard to raise capital as investors will be worried of investing into a one person run operation. They would rather prefer that their investments were protected by the law and that the company had enough experienced people on board as well which is why they would prefer a Corporation.
Even getting loans as a Proprietorship can be hard because banks will set a high rate for the business to cater for a default risk.
