Answer:
Explanation:
Explicit Costs refers to costs that involve an immediate outlay of cash from the business and it is recorded and reported to the management.
Implicit Cost refer to the cost which the company had foregone while employing the alternative course of action and is neither recorded nor reported to the management of the company.
a. The wages and utility bills that Charles pays
Identification: Explicit Cost
b. The wholesale cost for the guitars that Charles pays the manufacturer
Identification: Explicit Cost
c. The rental income Charles could receive if he chose to rent out his showroom
Identification: Implicit Cost
d. The salary Charles could earn if he worked as a financial advisor
Identification: Implicit Cost
Answer:
Constant or fixed cost
Explanation:
because companies are always set fixed money to their customers
when a shoe maker chooses to concentrate his efforts on the consumer segment that is interested in running. this selection of a specific market segment is known as market targeting.
Market targeting:
- The final customer that a corporation seeks to sell its finished goods to is known as the target market. To grow market share, target marketing includes segmenting the total market into different groups and developing marketing plans for each group.
- A target consumer is someone who will most likely purchase your product. Additionally, it is a segment of the larger target market. For instance, if female athletes between the ages of 13 and 25 make up your target market, female athletes between the ages of 13 and 16 might be your ideal target consumer.
- The importance of selecting a target market lies in its ability to help the business focus its resources on those customers who have a high potential for sales growth, interest in the product, and brand loyalty.
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If a retailer needed help with store design and training sales personnel, it would most likely use the services of a full-service wholesaler.
A service is "an act or use for which a consumer, commercial enterprise, or authorities is inclined to pay." Examples include paintings by way of hairdressers, medical doctors, lawyers, mechanics, banks, coverage organizations, and many others. Public offerings are paid for by society as a whole.
Lively occupation or role. b : Employment as a servant has started. 2a : work finished with the aid of good humans. b : assist, use, use like helping.
A service is a pastime or overall performance that constitutes a suggestion to any other individual this is intangible in nature and does now not bring about any possession. ”
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