The statement in the marketing mix, product refers to activities that communicate the merits of a product and persuade target customers to buy it is: True.
<h3>What is marketing mix?</h3>
Marketing mix can be defined as the technique or strategies use by companies to create awareness about their product or brand.
The statement is true because with marketing mix a company can make use of price, product, promotion to attract and persuade potential customers to buy the product.
The marketing mix are:
- Price
- Product
- Promotion
- Place
Therefore the statement is true.
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Answer:
$5,000
Explanation:
units price total
beginning inventory 600 $4 $2,400
purchase May 900 $5 $4,500
purchase July 500 $6 $3,000
total 2,000 $9,900
ending inventory 900
The first in, first out (FIFO) method considers that the oldest inventory is sold first.
Ending inventory = (500 x $6) + (400 x $5) = $3,000 + $2,000 = $5,000
Answer:
Explanation:
Giving the following information:
The company’s sales and expenses for last month follow: sales 616,000 net operating income 31,200
Break-even point= fixed costs/ contribution margin
Break-even point (dollars)= fixed costs/ contribution margin ratio
Contribution margin= selling price - unitary variable cost
Contribution margin ratio= contribution margin/ selling price
Answer:
D. Society and its individuals have unlimited wants.
Explanation:
Economics can be defined as the study of how to use scarce or limited resources to meet the unending needs and wants of the consumers.
One of the basic principles of economics is that society and its individuals have unlimited wants because humans are generally insatiable. Therefore, we are left with the option of choosing (choices) because we cannot have all that we desire or want and the resources used to meet the demands are scarce or limited.
Generally, Economics can be classified into two (2) categories, namely;
1. Macroeconomics can be defined as the study of behaviors, performance and factors that affect the entire economy. Hence, it focuses on aggregate phenomena such as price level, economic growth, Gross Domestic Product (GDP), inflation, unemployment and national income levels with respect to the central bank, demand or supply shocks, government policies, aggregate spending and savings.
2. Microeconomics can be defined as the study of the effect of price and quantity levels through interactions between individual buyers and sellers in various markets.
Hence, it is focuses on analyzing or evaluating the decisions of consumers (buyers) and those of firms (sellers) such as methods of production, pricing; and the manner in which government policies affect those decisions.