Answer:
Idea.
Explanation:
Patent can be defined as the exclusive or sole right granted to an inventor by a sovereign authority such as a government, which enables him or her to manufacture, use, or sell an invention for a specific period of time.
Generally, patents are used on ideas and innovation for products that are manufactured through the application of various technologies.
In this scenario, an auto mechanic has an idea to make a tool that will make his job easier. He has a machinist friend make a prototype of it.
Hence, a patent will protect the idea because it is an intellectual property of the auto mechanic.
A modification to a product that changes the taste, texture, sound, smell, or appearance is a <u>style modification.</u>
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Product modification is the process of improving already-existing items by making the required adjustments to their nature, size, packing, colour, and other attributes in order to better meet changing market demands. The goal of the product change is to retain current demand, draw in new customers, and effectively compete with rivals.
The company's earnings improve as a result of increased sales, which are aided by this. The product's look is altered as part of the style enhancement plan. Nevertheless, a product's quality never changes. Here, the product's packaging or its shape, colour, or other characteristics may be altered. The fashion business frequently employs this tactic.
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Answer:
Evaluative Criteria
Explanation:
Evaluative criteria is the situation whereby an individual decides to buy more than what he or she initially had in mind during to varying factors which may include price, characteristics, advertising effect, competitive context and so on of those extra things bought. Evaluative criteria results from desired benefits. The wall street journal in this case provides customers with evaluative criteria.
Laissez-faire is an attitude and policy of letting events take their course without interruption.
The French Physiocrats introduced this term.
Answer:
The correct answer to the following question is Unfavorable direct material cost variance .
Explanation:
Unfavorable variance can be defined as an accounting term which describes situations where the actual cost that a company would bear is more than the standard cost. This will alert a management that there will be fall in the expected profit of the company. In the given question , same situation will take place if the production manager decides to buy high grade materials which will cause more cost and thus will lead to decrease in profit.
