Answer:
Scarcity and Utility
I will explain the concepts of scarcity, value, and utility using my laptop and some writing pens. I have only one laptop available in my family. I use it 24-hours daily. I attach so much value (utility) to the laptop because it is only one. It is very scare in my household. On the other hand, I have a packet of writing pens. Pens are relatively not scare in my household. If my laptop is missing, I will raise uproar in the house. Everybody present will answer a tedious query. But, if one of the pens gets missing, I may not even be aware that it is missing. At the moment, I do not attach much value (utility) to the writing pens because I have many of them presently . Writing pens are not scare in my household, as I said earlier.
Using these examples, I have demonstrated the concepts of scarcity, utility, and value.
Explanation:
Therefore, scarcity is defined by the value and the relative availability of a good. Scarcity is a basic economic problem that shows the gap existing between limited resources and unlimited needs. Based on the lack experienced with satisfying a need, one has to always choose between alternatives in order to maximize resource allocation and utility.
Utility in Economics refers to the value or satisfaction derivable from the meeting of a human or economic need. It is initially connected to the concept of scarcity. But after attaining some level of utility, scarcity temporarily evaporates. And this is the dividing thin line. This is why they are mostly used together. "Something that is valuable is scarce and give utility." Something that is not highly valuable is not usual scarce and does not give much utility, at least, to an extent.
True, With relationship selling the salesperson would spend most of his or her contact time with the prospect talking about the product, hoping to close the sale.
<h3>What is the difference between relationship selling and consultative selling?</h3>
The difference between relationship selling vs. consultative selling is that relationship selling consists of building a relationship with a customer over a long time and then relying on that relationship for sales as opposed to short-term gains and creating an interest in the customer in consultative selling
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The correct answer for this is C. Jeb should scan the article to check if the one he's looking for is in there. This way, you can efficiently use your time and lessen your hassle on reading everything what the article has to say.
Answer:
Date General Journal Debit Credit
Cash $15,400
Accumulated Depreciation $39,600
Equipment - Delivery truck $55,000
(Assuming the truck was sold for $15,400 cash)
Cash $16,500
Accumulated Depreciation $39,600
Gain on sale $1,100
Equipment - Delivery truck $55,000
(Assuming the truck was sold for $16,500 cash)
Cash $12,700
Accumulated Depreciation $39,600
Loss on sale $2,700
Equipment - Delivery truck $55,000
(Assuming the truck was sold for $12,700 cash)
The answer is: satisfying customer needs and wants.
<h3>What Distinguishes Needs from Wants?</h3>
One of the most crucial tasks you must take when building a monthly budget is classifying your expenditures by "need" or "desire" status.
The distinction between a need and a want might vary from person to person, making it one of the hardest challenges. It is also simple to mistake requirements for wants if you have been accustomed to something to the point that it is difficult to imagine life without it.
You classify your expenditure on the budgeting worksheet as either needs or wants. By doing this, you may distinguish between the expenses that are absolutely necessary for your existence and well-being (what you need) and those that are only desirable but not necessary (wants).
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