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WARRIOR [948]
3 years ago
14

Type the correct answer in the box. Which marketing-related concept is described in the following scenario? The booming Industri

al Revolution brought about an increase in the manufacturing of products. There was a strong emphasis on manufacturing a large number of products at the most reasonable cost. This marketing concept is called the _______ .
Business
1 answer:
DanielleElmas [232]3 years ago
4 0

<u>Answer: </u>Production concept

<u>Explanation:</u>

Production concept is based on concentrating on the efficiency of the production and manufacturing. The basis of production concept is to make the goods available to the consumer at affordable prices. By producing in mass quantities the companies believed they can reduce the cost of production.

Also that supply can be increased when the cost of production is lower. Economies of scale can be achieved by the company when they reduce cost of production they can increase their profit earning capacity.

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According to the diversification-for-stability argument, why should some nations impose protective tariffs and import quotas
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Their economies are highly specialized and depend on international trade for their income.

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Income is the consumption and saving opportunity gained by an entity over a given time period, which is usually expressed in monetary terms. Income is difficult to define conceptually, and definitions vary across fields.

Income is defined as the amount of money received by a person, group, or company over a specific time period. A salary of $70,000 per year is an example of income.

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5 0
1 year ago
What is an easy way to convert an hourly wage into an approximate full-time annual wage?
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3 years ago
The average cost of a single sales call to a potential b2b buyer in the u.s. is expensive and could cost about:
Colt1911 [192]
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Synovec Corporation is expected to pay the following dividends over the next four years: $6.60, $17.60, $22.60, and $4.40. After
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Answer: $245

Explanation:

If the required return on the stock is 7 percent, the current share price would be calculated as:

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