Answer:
C) The market learing price may rise, fall, or stay the same, but the equilibrium quantity will rise.
Explanation:
An increase in demand would lead to an increase in demand and price.
An increase in supply would lead to an increase in supply and a fall in price.
The combined effect would lead to an increase in equilibrium quantity but the effect on equilibrium price would be indeterminate.
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Answer:
The description is for Colombia.
Explanation:
In Colombia and any Latin American country, the business creation process is usually more complicated due to the different types of legal procedures that must be carried out, which often ends up increasing informality levels. In the United States, the process is usually easier, since it takes no more than three days and can be done electronically. In Colombia, for example, a different procedure must be carried out for each national or territorial body (local and national taxes), commercial constitution, among other procedures that take approximately one month to complete. In addition, many of these obligations require the advice of a certified accountant who is the most suitable professional to carry out this procedure.
Answer: d. The marketing concept focuses on customer needs, whereas the selling concept focuses on existing products.
Explanation:
A difference between the marketing concept and the selling concept is that the marketing concept focuses on customer needs, whereas the selling concept focuses on existing products.
A selling concept believes there must be adequate promotion and large scale selling for consumers to purchase a firm's products while according to Marketing concept,the need of the consumers has to be known and identified by the firms.
Answer: The answer is False.
Explanation: The marketing mix consists of the five “P”s, which are price, product, place, people and promotion. Price is the only portion of the marketing mix that generates revenue for the company, but it is not the only part that does not generate costs. That makes this statement false.
