Answer: Economic cost = $175,000
Accounting cost = $100,000
Explanation: The difference between economic cost and accounting coast is economic cost takes into consideration the next best alternative foregone, that is, opportunity cost whereas accounting cost only sums cost incurred. In the given case the interest on savings and salary of job is the opportunity cost of Jill.
Therefore,
Economic cost = $5000 + $70,000 + $80,000 + $40,000 - $20,000=$175,000
Accounting cost = $80,000 + $20,000 = $100,000
B - because primary research is research done by the person collecting the data, it provide feedback which would be directly related to it's subject - in this case it's needs.
Answer:
After taking a Marketing Course, I should be armed with the following promotional skills:
- Innovation Skills: It is expected that a marketing professional should be able to think differently, energise creativity in the business and craft maverick ways of gaining the attention of the market and transform that attention to patronage.
- Market Development Skills: One is also expected to gain the ability to identify and articulate latent customer needs (even before the customers become aware of them), spot socioeconomic trends as well as technological developments which create opportunities for the company as well as for the customer.
- Pricing Technology: Pricing is an art and a science. It involves accounting, economics and psychology. Marketing deals with the economics and psychology bit of it. Armed with this information, one is able to get into the mind of the individual buyers and them to firm up their buying decision.
Cheers!
Answer: Chunking
Explanation:
In psychology, the strategy of chunking is referred to as or known as a process under which a individual piece of information set is broken down into pieces and later grouped together. Chunking is also referred to as the collection of familiar unit that are grouped together and also stored in an individual's memory in order to recall later. Chunks are also easily retrieved because of their coherent familiarity and similarity.
Answer: $289,000
Explanation:
For performance evaluation purposes, the amount of Maintenance Department cost that should be charged to the Paints Division at the end of the year will be calculated thus:
= (20000 × $2) + ($830,000 × 30%)
= $40,000 + ($830000 × 0.3)
= $40000 + $249,000
= $289,000