Answer:
TripAdvisor
Explanation:
TripAdvisor is a global travel company founded by Stephen Kaufer in February 2000.
Features available include price comparison, online reservations for transportation, reservation for lodging, travel experiences, and restaurant information.
The original idea was for a social media website that encouraged swapping of ideas relating to travelling. There was a button - Add your own review, and this promoted the growth and use of TripAdvisor because honest opinions are shared.
People tend to express their views on highs and lows of their experiences during holiday travels. This helps travelers make informed decisions when they want to travel, and also travel and hospitality services providers get to know areas they can improve.
Answer:
Allocative inefficiency.
Explanation:
Factors of production can be defined as the fundamental building blocks used by individuals or business firms for the manufacturing of finished goods and services in order to meet the unending needs and requirements of their customers.
In Economics, there are four (4) main factors of production and these are;
I. Land.
II. Labor (working).
III. Capital resources.
IV. Entrepreneurship.
When these aforementioned factors of production are combined effectively and efficiently, they can be used for the manufacturing or production of goods and services to meet the unending requirements or needs of the consumers.
Basically, there are two (2) types of inefficiency associated with the production of goods and services to meet the unending requirements or needs of consumers, these includes;
1. Technical (productive) inefficiency: it occurs when a company or business firm produce goods and services that consumers do not want. This is typically as a result of the incorrect and inefficient allocation of scarce resources by a business firm or entity.
2. Allocative inefficiency: it occurs when a company or business firm do not maximise output from the given inputs such as raw materials, capital, etc. Thus, it arises when businesses fail to increase the level of their production or productivity from a number of given inputs.
Hence, when a business do not maximise output from the given inputs, it is referred to as an allocative inefficiency.
<em>In conclusion, allocative inefficiency typically occurs when the price of a good or service isn't equal to its marginal cost i.e P ≠ MC.</em>
Some reasons why an ad deterred a consumer from buying a product could be lack of information or jarring communication.
<h3 /><h3>How to build an effective ad?</h3>
It is essential that the marketing team develop a strategy to engage your potential consumer. For this, it is necessary to align the language and ideas contained in the ad to have the expected effect on the consumer, in addition to identifying the ideal channel for placement.
Therefore, publicity and advertising are essential to generate value for a brand and reach the consumer.
Find out more about advertising here:
brainly.com/question/1264922
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<u>The cost are as follows:</u>
<u>rent, raw materials, production, utilities, shipping, insurance, </u>
<em>Answer</em>:
<u>Fixed cost> rent, insurance, utilities</u>
<u>Variable cost> raw materials, production cost, shipping cost</u>
Explanation:
Remember, it was mentioned that Fixed costs are costs that must be paid regardless of how many units are produced and sold; which implies that <em>they do not change so frequently.</em>
Thus, we would expect rent paid by Crystal soap to be fixed overtime, her insurance payments as well as utilities she pays for like power etc would also fall under fixed cost.
Variable costs, on the other hand, fluctuate directly with sales volume. Therefore, Crystal soap business would incur varying cost amount for raw materials, production cost, and their shipping cost.
