Marketing involves companies and their customers working together to develop products that meet customer needs.
<h3>What is Marketing?</h3>
Marketing is a business strategy that identifies customers and their needs and provides the product to meet the customers need.
- Marketing checks for the value placed on a product by consumers and provides the needs base on their preference.
Therefore, marketing involves working with customers to provide their needs.
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Answer:
Days' sales in inventory = 24 days.
Explanation:
We know,
Days' sales in inventory = 365 ÷ Inventory Turnover
Given,
Inventory Turnover = Cost of goods sold (cost of merchandise sold) ÷ Average inventory
Inventory Turnover = $2,100,000 ÷ $140,000
Inventory Turnover = 15 times
Therefore,
Days' sales in inventory = 365 ÷ 15 times
Hence, Days' sales in inventory = 24.33 days
Days' sales in inventory = 24 days.
Days' sales in inventory indicates that within 24 days, the company can sell the inventory.
-$264,000
Explanation:
Below is a summary of the net cash flows from investing operations for the year.
flow of money from investments
Equipment purchase: $260,000
$87,000 was earned from the sale of equipment.
Land purchase: $91,000
-$264,000 in net cash flow was utilised for investing activities.
Sales are a cash inflow, so they would be added, whereas the purchase is a cash outflow, so it would be reflected as a minus sign.
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I believe the answer is: For whom it should be produced.
There are only 3 basic economic questions that should be asked before opening a business. What to produce, for whom it should be produced, and how to produce it.
By knowing the target consumers, Jordan could determine the best possible place to set up his store that can be easily accessed by his target consumers.
For example, if he produce the lemonade to children, he need to place the stand on the roads where many of the students cross on their way from school to home.
Production possibilities curve between the two goods will be a straight, downward-sloping line if the opportunity cost rise.
<h3>What is production possibilities curve?</h3>
The production possibilities curve serves as graph that display the relationship between the resources and the output that can be produced.
Therefore, when the opportunity cost that exists between two goods, there will be. downward slope as regards the production possibilities curve.
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