Answer:
1. Trade off
2. Opportunity cost
3. Cost-benefit analysis
4. Diminishing marginal utility
Explanation:
1. Giving up one benefit or advantage to gain another regarded as more favorable is called trade-off. Every economic decision involves some trade-off.
2. Opportunity cost is the second-best alternative or value of the alternative, that must be given up when making a choice. Because of scarce resources with alternative uses allocation of resources involves some opportunity cost.
3. Cost-benefit analysis can be defined as the process of examining the benefits and costs of each available alternative in arriving at a decision. Resources are allocated efficiently if the cost incurred and benefit earned is equal.
4. As we go on increasing the quantity consumed of a product, the marginal utility or satisfaction earned from its consumption goes on decreasing. This is called diminishing marginal utility.
Knowing what stage of the product life cycle a product is in helps marketers make intelligent and efficient marketing decisions.
<h3>What is the product life cycle?</h3>
The stages that a product goes through as it enters, establishes itself and leaves the market are defined by the Product Life Cycle (PLC). The product life cycle, in other words, outlines the stages that a product is likely to go through. Managers can use it to examine their products and create plans as they move through different stages.
When a product is first introduced to the market, a company frequently faces higher marketing expenses; nevertheless, as product adoption rises, more sales are realized.
When a product's adoption matures, sales stabilize and peak, however they may decline due to competition and obsolescence. When making business decisions, from pricing and advertising to expansion or cost-cutting, the idea of product life cycle might be helpful.
To learn more about the product life cycle, visit:
brainly.com/question/9363762
#SPJ4
Answer: Computer aided engineering(CAE) systems.
Explanation:
Computer aided engineering involves making use of computer softwares that aids production. The computer aided engineering software is used to design how product could look like, simulate the product on a computer system to determine the product's possible performance and to ensure the desired standard is met, before the design can then be used to carry out production. Computer aided engineering is commonly applied in automobile production and large buildings construction.
Answer: Matched pairs design
Explanation:
A matched pairs design is a type of study used when 2 treaments are present in an experiment. The individuals in the design can be divided into pairs using a blocking variable, and each pair can then be allocated to treatments at random. This is thus a special type of randomized block design.
In this case the blocking variable can be the various urban areas as 1968 is matched against 1972. Each city can be compared based on 2 measurements. From their each individual can be grouped into pairs and allocated to different treatments.
Answer:
inputs, outputs, transformation processes, and feedback.
Explanation:
The viewpoint of the system that could see the organziation as the entities as they should be made of the input as the raw material, output as the finished product, transformation process as when the raw material is converted into the finished product and the feedback as the client feedback related to the product and service
So as per the given situation the above should be the answer
