Answer:
Explicit costs are the costs which requires the money to pay.
On the other hand, implicit costs refers to the benefit that is foregone by choosing some other work or doing some other activity.
Therefore,
Explicit costs are as follows:
1. Wages pays to his hired hand
2. Buys feed for his cows.
3. Gas expense that is used in truck
Implicit costs are as follows:
1. Foregone income of $27,000 from working at a dairy plant as a technician.
2. Time taken for extracting milk from all the cows.
Answer:
A. Realtors
Explanation:
A realtor is a professional who helps clients buy and sell properties. Realtors are registered by the National Association of Realtors (NAR) and licensed to practice by their local authorities.
Realtors work for real estate companies. They may be real estate agents, salespeople, residential and commercial real estate brokers, property managers, or appraisers. Since they are recognized by law, and their work revolves around properties, realtors stand in a better position to assist someone buying a house.
The description above is trying to define the
undifferentiated marketing strategy as this strategy focuses more on things
that will appear to the people, what will make people more attracted and feel
more appealed on what they are selling or trying to promote in which they try
to ignore the market segmentation. The undifferentiated marketing strategy
focuses more on the whole market with just one offer and they tend to use more
marketing strategies that will be of beneficial to them in terms of attracting
the consumers for this is their main goal and what they focus more when this
marketing strategy is being used in the business or marketing field.
The last one would most likely be it
Answer: (B) Personal selling
Explanation:
The person selling is basically refers to the two-way communication process in which we sell our products and the services face to face to the customer.
The personal selling is also known as the interaction form of selling the products to the user.
The personal selling is one of the most expensive promotion tool as it is hardly used for advertising the products. It mainly involve spreading the information regarding the specific organization products and the services.
Therefore, Option (B) is correct.
