Answer: Inquiry
Explanation:
According to the given question, by using the procedure of the business process for making the various types of decisions and the Trevor should perform the inquiry process for determining the ethical and some legal issues.
The inquiry is one of the type of approach that is helps in developing the problem solving ability and also the information processing.
It is the process that has ability for resolving various types of problems or ussies by implementing a compliance policies.
Therefore, Inquiry is the correct answer.
The correct answer is technology.
The processes that a firm uses in order to turn inputs into outputs of goods and services is called technology.
Answer: Price, Product, Promotion and Place.
Explanation:
Answer:
The demand for Jim’s product is elastic
Explanation:
In this question, we are to calculate the price elasticity of demand for the product.
We proceed as follows;
The formula for calculating elasticity of demand is
e = [(Q2 - Q1) / {(Q1 + Q2) / 2}] / [(P2 - P1) / {(P1 + P2) / 2}]
Here, Q2 = 6000
Q1 = 8000
P2 = $250
P1 = $200
e = [(6000 - 8000) / {(8000 + 6000) / 2}] / [($250 - $200) / {($200 + $250) / 2}]
e = [(- 2000) / 7000] / [(50 / 225]
e = - 1.3
That means absolute value of e is 1.3.
So, as the absolute value of e is more than 1 (i.e., 1.3), that means the demand for the product is elastic.
The answer to this item is letter <em>C. PRICE ELASTIC. </em>
The price elastic demand as stated in this given corresponds to the increase or rise in the total revenue when the price is brought down or decreased. This is indicated by the PED (price elasticity of demand).
The total revenue is calculated by multiplying the total items, good, or services sold by the unit price. For the demand which is price elastic, the decrease in the price will cause a higher raise in the number of customer vying for the products and services.
