a. Situational needs
b. Functional needs
c. Social needs
d. Psychological needs
e. Knowledge needs
Answer:
b. Psychological needs
Explanation:
-Situational needs are the ones that are related to the customer's environment, place and time.
-Functional needs are the basic ones people need to be able to live.
-Social needs refer to the need people have to relate to the others.
-Psychological needs refer to things pople need for their well-being and being able to function properly.
-Knowledge needs refers to the ones related to learning new things.
According to this, the need the buyer is expressing is a psychological need because your prospect says that they are interested in the product because it is the one best suited for a particular task. The prospect could be able to buy a similar product from someone else but as they consider this as the best one, buying it will make them feel good.
Answer:
a) see attached image
b) Atlantis's opportunity cost of producing one helmet = 200 / 100 = 2 baseballs
c and d) Atlantis's opportunity cost of producing one baseball = 100 / 200 = 0.5 helmets
Zanadu's opportunity cost of producing one baseball = 100 / 400 = 0.25 helmets ⇒ Zanadu has a comparative and absolute advantage in the production of baseballs
e) yes, Atlantis would produce 100 helmets, and if it trades 50 to Zanadu, it will get 150 baseballs in return. So it will gain from trade. If Zanadu produces 400 baseballs and trades 150 of them for 50 helmets, it will also benefit.
Explanation:
Answer:
Which of the following is an example of a service business?
Enterprise Rent-a-Car
Explanation:
Enterprise Rent-a-car is rendering a service which is to give away car to customer for a particular period or time in exchange for money so it is a service business
Answer: Cooperative
Explanation:
A cooperative is an independent association of people united voluntarily in order to meet their common economic, cultural and social needs and through a jointly owned enterprise.
A cooperative society is a group of people who possess specific common needs. The purpose of a cooperative society is to improve the economic status of its members. Cooperative societies usually offer their products to their members at a discount.
Answer:
D. base an employee's salary on the number of task skills he or she possesses.
Explanation:
Pay for knowledge programme as the name implies, is when an employer renumerate an employee for learning or developing new skills/task on the job.
If an employee develop new skills while working and then get renumerated, this will make the employee get himself or herself acquainted with the company. In order words, the employee will go out of his way to improve his efficiency in terms of increase in productivity due to the new task skill gained.
In this reward system, the employer rewards the employee with payment increase for leaning new task and skills on the job which is beyond their regular activity.
