Answer:
The correct answer is letter "C": mission formulation.
Explanation:
Segmentation and targeting is the process by which companies classify their existing and potential customers by<em> sex, age, race, </em>and<em> income</em>. This is done to analyze specific consumers' preferences and behavior so the firm can provide them with a good or service they are likely to consume.
Segmentation implies analyzing <em>pricing, salesforce, advertising, </em>and <em>customer management</em> but <em>mission formulation</em> is a step that the firm takes before starting segmenting its market.
Answer: False
Explanation:
When more than one alternative can be selected from those available, the alternatives are said to be mutually exclusive. In evaluating independent alternatives, each alternative is compared against the "Do Nothing" alternative.
For mutually exclusive alternatives, the do-nothing is a viable option when revenue alternatives are involved.
High
unemployment especially unemployment as the result of layoffs, can be
devastating for individuals and business. All of the following are effects of high unemployment except for " a loose money supply policy<span> "</span>
>A high unemployment rate can impede a country from progressing in all aspects.
>Monetary policy is defined as the management of a nation's money supply by the government or central bank.It happens when the money supply is expanded and is easily accessible to citizens to encourage economic growth.
<span>
Read more: http://www.businessdictionary.com/definition/loose-monetary-policy.html#ixzz48jU6jgpo</span>
Answer:
Self-interest in a market system will automatically promote the public interest as well.
Explanation:
An economy is a function of how money, means of production and resources (raw materials) are carefully used to facilitate the demands and supply of goods and services to meet the unending needs or requirements of the consumers.
Hence, a region's or country's economy is largely dependent on how resources are being allocated and utilized, how many goods and services are to be produced, what should be produced, for whom they are to be produced for and how much money are to be spent by the consumers to acquire these goods and services.
A free-enterprise system also referred to as capitalism or free market can be defined as a type of economy in which prices, products and services are being determined by the market rather than the government. Thus, a free-enterprise system is devoid (free) of government regulations, interference or control because the market (enterprises) are the ones who are saddled with the responsibility of determining the market forces.
Simply stated, a free-enterprise system is a type of economy that is completely driven by demand and supply of goods and services.
The "invisible hand" concept asserts that the self-interest by producers and suppliers of resources in a market system will automatically promote the public interest as well.
This ultimately implies that, public and private interest will always coincide assuming there exist competition in a free market system.
In conclusion, the invincible hand concept is a metaphorical description of the unforeseen forces that typically moves a free market system or economy.
Answer:
Paul is NOT maximizing his utility.
Explanation:
Given:
MU
= Marginal utility from DVDs = 21
MU
= Marginal utility from books = 4
P = Price of DVDS = $11
P = Price of books = $1
Under the utility maximization theory for two or more goods, utility is said to be maximized by a consumer when the ratios of the marginal utility to price per unit of each good are equal to each other. For this question, this implies that when we have:
MU / P = MU / P ………………………….. (1)
Therefore, we have:
MU / P = 21 / 11 = 1.91
MU / P = 4 / 1 = 4
Since 1.91 = MU / P < MU / P = 4, this implies that these conditions are NOT consistent with equation (1). Therefore, Paul is NOT maximizing his utility.
In order to maximize his utility, Paul should consume more DVDs and consume less books until these conditions are consistent with equation (1).
