Answer:
Business activity takes place at three stages of production: Primary activity involves extracting the gifts of nature (e.g. drilling oil from the ground); Secondary activity involves manufacturing finished goods (e.g. refining oil and gas); Tertiary activity involves providing services such as making finished goods
<u>Answer:</u>
<em>Internal marketing efforts.</em>
<u>Explanation:</u>
The chain that links service firm profits with employee and customer satisfaction is service profit chain. - intangibility: cannot be seen, tasted, felt, heard or smelt before they're bought.
- Inseparability: services can't be separated from their providers.
- Variability: quality of services depends on who provides them and when, where and how.
- Perishability: services can't be stored for later use or sale.
<u>5 links: </u>
- <em>Internal service quality</em>
- <em>Satisfied and productive service employees</em>
- <em>Greater service value</em>
- <em>Satisfied and loyal customers</em>
- <em>Healthy service profits and growth</em>
Answer:
Cantril Ladder
Explanation:
Cantril ladder approach was developed by Hadley Cantril. The approach is a method of assessing the well being of individuals. The cantril scale is represented by an imaginary ladder with steps numbered from 1 to 10 wherein each step denotes a happiness level.
For example, level one would relate to poor well being i.e the case of individual being least happy whereas level 10 would represent highest satisfaction in life and happiness.
As per the research conducted across the globe, the cantril scale of well being and happiness correlated really well with the income of the respondents indicating, that well being and happiness are directly related to an individual's income level.
Answer:
$1,560
Explanation:
The computation of the depreciation expense for the second year of its useful life is shown below:
First depreciation rate is
= 1 ÷ 5 ×2
= 40%
Now the depreciation expense for one year is
= 40% of $6,500
= $2,600
Now the depreciation expense for the second year is
= ($6,500 - $2,600) ×40%
= $1,560
Answer:
It helps consumers tell producers when prices are too high.
Explanation:
The law of demand affirms that an increase in price results in reduced demand. It means that when prices increase, consumers will buy fewer quantities of a product or service. The law of demand shows the relationship between price and the quantity of a product consumers are willing to buy in the market.
Consumers can communicate with producers through the volume of products purchased. When the quantity purchased is low, producers will know the set prices are high.
