The good that I chose is T-SHIRT. It is a staple in my wardrobe. It's comfortable to wear and have various styles, colors, and designs to choose from.
The form utility of the t-shirt is that it is a ready-to-wear product. You don't need to look for other items to complete it.
The place utility of a t-shirt is that it is easily accessible to the buying public. Nowadays, you have the option to go to shopping malls, boutiques, and even online stores to buy t-shirts.
The time utility of a t-shirt is that it is can easily be bought when needed. There is no waiting time for a shirt to be completed. Because of its various styles, designs, colors, and sizes, it can cater to everybody's needs at anytime.
The possession utility of a t-shirt is that once it has already been paid for, customers immediately become its owner. You can immediately wear it after purchase without hassle.
The information utility of a t-shirt is that because it is a staple in everybody's closet. From toddlers to adults, t-shirts are vastly available, accessible, and affordable.
All economic utility of a t-shirt is good because it meets the needs and wants of the clients.
Answer:
d) Markets tend to move towards equilibrium as individuals respond to incentives
Explanation:
The equilibrium is the single point where the demand meets the supply. Individuals, tend to move following their own benefit, so if the demand of engineers is bigger than the supply of them, they will be better paid and become easier to find a job...individuals want to find a job with a better pay, so they will decide to major in Engineering.
As the number of engineers increase, the supply will meet the demand of them and the number of jobpostings for engineers will decrease as well as their extra pay meeting the equilibrium point.
Thats how the Markets tend to move towards equilibrium as individuals respond to incentives
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The correct answer is; Raise her prices on the car detailing or only wash cars.
Further Explanation:
It makes the most sense that Betty Lou raise the pricing on the car detailing. Since the materials cost more than the washing materials and car detailing takes more time, she is losing money in the long run.
If Betty doesn't want to raise her prices, she should only continue to wash cars since she can do this faster and make more money on average. This is the most efficient use of her resources. Betty can use advertising to get more clients and repeat clients that liked her car detailing will be willing to pay more for her services.
Learn more about money resources at brainly.com/question/13726693
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Explanation:
The product cost is the cost that have incurred related to the product. It involves direct material cost, direct labor cost, and the manufacturing overhead account
And, the period cost is the cost which includes the major part of the selling and administrative expenses and is incurred as the time passes
So, the categorization is shown below:
a. Salaries of scientists studying ways to speed forest growth. = Period cost
b. Cost of computer software to track WIP Inventory. = Product cost
c. Cost of electricity at the paper mill. = Product cost
d. Salaries of the company’s top executives. = Period cost
e. Cost of chemicals to treat the paper. = Product cost
f. Cost of TV ads. = Period cost
g. Depreciation on the manufacturing plant. = Product cost
h. Cost to purchase wood pulp.= Product cost
i. Life insurance on the CEO. = Period cost
The United States economy is sometimes referred to as a modified free
enterprise system due to the fact that it is capitalist. This means that
there is no monopoly on a particular aspect of trade or business, so
anybody can start a company.
