If we accept "consumer satisfaction" as the objective of our macro-marketing system, this means that: consumer educators should choose what products should be produced. "home economists" will be the best judges of what should be produced. each consumer should decide how best to satisfy his or her own wants. not every consumer should be allowed to decide his or her own wants. government planners should choose the kinds of products to be produced.
Answers
If consumer satisfaction is to be assumed as the objective of macro marketing system , in such a case each consumer should decide how to best satisfy his or her own wants.
Consumer wants are ever-upgrading and unlimited
Customer satisfaction is a niche concept of deriving satisfaction from consumption of certain goods and services .
Such goods and services can be subjective and may change due to external factors acting upon the situation.
Satisfaction is directly related to utility a person derives from its consumption .
To explain this with an example we may say that, a drunkard derives utmost satisfaction by consuming alcohol even after knowing the ill effects of the same and wont get much satisfaction in consuming orange juice.
Summing up above points we can say that if consumer satisfaction is to be taken as the objective for marketing purposes the correct option is C Each consumer should get to decide how best to satisfy his or her wants .
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Related Questions
The skill you’re focusing on this week is:
Employees were striking at the local university last year. Very few students were crossing the picket line. In fact, the city's postal employees refused to deliver mail there claiming that they were honoring the strike for their fellow service union members. The postal employees were participating in a voluntary secondary boycott.a) trueb) false
Discuss why two people with similar abilities may have very different expectancies for performing at a high level.
Atlantis Corporation has 13,000 shares of 14%, $81.00 par noncumulative preferred stock outstanding and 30,000 shares of no−par common stock outstanding. At the end of the current year, the corporation declares a dividend of $186,000. How is the dividend allocated between preferred and common stockholders?
Suppose that Spain and Switzerland consider trading cheese and beer with each other. Spain can gain from specialization and trade as long as it receives more than (1, 1/10, 1/5, 5, 10) barrels of beer for each pound of cheese it exports to Switzerland. Similarly, Switzerland can gain from trade as long as it receives more than(1, 1/10, 1/5, 5, 10) pound of cheese for each barrel of beer it exports to Spain.
Based on your answer to the last question, which of the following prices of trade (that is, price of cheese in terms of beer) would allow both Switzerland and Spain to gain from trade? Check all that apply.
A. 6 barrels of beer per pound of cheese
B. 1 barrel of beer per pound of cheese
C. 7 barrels of beer per pound of cheese
D. 4 barrels of beer per pound of cheese
Answers
Answer:
Spain has a proportional advantage in the production of cheese since it has to provide up only 5 barrels of beer for making one pound of cheese, although, Switzerland has to provide up 10 barrels of beer which is higher. Switzerland has a proportional advantage in the construction of beer since it has to give up 1/10th pound of cheese, although, Spain has to provide up 1/5th pound of cheese which is higher.
The price must be higher than the opportunity cost of the retailer and less than the prospect cost of the consumer. The terms of trade should lie among the prospect cost of the buyer and seller to be favorable to both.
More than 5 barrels.
More than 1/10th pound of cheese.
A and C.
Final answer:
Spain has a comparative advantage in cheese production and Switzerland in beer production. Spain gains from trade when it receives more than 5 barrels of beer per pound of cheese it exports, and Switzerland when it gets more than 1/10 pound of cheese per barrel of beer. From this, option A (6 barrels per pound) and C (7 barrels per pound) are both beneficial trade prices for both countries.
Explanation:
When we compare the opportunity cost of producing cheese in Spain and Switzerland, we can see that Spain has a comparative advantage in the production of cheese, and Switzerland in the production of beer. This is because Spain can produce cheese at a lower opportunity cost than Switzerland.
Regarding trade, Spain will gain from specialization and trade as long as it receives more than 5 barrels of beer for each pound of cheese it exports to Switzerland. For Switzerland, it will gain from trade as long as it receives more than 1/10 pound of cheese for each barrel of beer it exports to Spain.
Considering the above, the prices of trade that would allow both countries to gain from trade would be A. 6 barrels of beer per pound of cheese and C. 7 barrels of beer per pound of cheese. These prices are above the opportunity cost of cheese in Spain and below the opportunity cost of cheese in Switzerland, satisfying the needs of both parties.
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The condition of exchange that is being met when Small describes how his customers choose to purchase his clothes (by evaluating that his brand is environmentally conscientious, whereas most other brands are not) is that each party believes it is appropriate or desirable to deal with the other party.
Answers
Answer:
2021 = 9.2 times
2022 = 10.4 times
Explanation:
Accounts receivable turnover measure the average times the company received their receivable, It measure the efficiency of the company regarding collection from customers. Turnover will be higher if company has low ratio of receivables to sales value.
2022 2021
Average accounts receivable $539,000 $577,000
Net sales on account $5,605,600 $5,308,400
Accounts receivable turnover = Net Sales / Average Receivable
2021
Accounts receivable turnover = $5,308,400 / $577,000
Accounts receivable turnover = 9.2 times
2021
Accounts receivable turnover = $5,605,600 / $539,000
Accounts receivable turnover = 10.4 times
Answer:
2022 accounts receivable turnover = 10.4 times
2021 accounts receivable turnover = 9.2 times
Explanation:
Accounts receivable turnover can be described as the number times it takes a company to collect its average accounts receivable within a specified accounting period, usually a year. It is used as a measure of efficiency of a company in collecting account receivables in a timely manner.
Accounts receivable turnover is therefore a ratio of net sales on account to the Average accounts receivable within a specified year. This can be stated as follows:
Accounts receivable turnover = Net sales on account/Average accounts receivable ………. (1)
Using equation (1), accounts receivable turnover for 2022 and 2021 can be calculated as follows:
2022 accounts receivable turnover = $5,605,600/$539,000 = 10.4 times
2021 accounts receivable turnover = $5,308,400/$577,000 = 9.2 times
The results imply that Marigold Company is more efficient in collecting account receivable in 2021 than 2022, because it takes fewer number of times in 2021, 9.2 times, than in 2022, 10.4 times.
Answers
Answer:
The answer is "74,000".
Explanation:
Please find the complete question in the attached file.
Profitability analysis of the total business:
The combined value for final sales
Low cost of manufacturing end products:
Wool's cost
Process cost of segregation
Combined dyeing cost s
Gain benefit
Final answer:
To determine the overall profit in industries that process joint products, calculate the difference between the sales value of the final products and the costs of the raw materials inputs.
Explanation:
In industries that process joint products, the overall profit can be determined by calculating the difference between the sales value of the final products and the costs of the raw materials inputs. To find out the overall profit, follow these steps:
- Calculate the total sales value of the final products by summing up the sales values of all the final products.
- Calculate the total costs of the raw materials inputs by summing up the costs of all the raw materials.
- Subtract the total costs of raw materials inputs from the total sales value of the final products.
The resulting value will be the overall profit if all intermediate products are processed into final products.
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Answers
Answer: $538,806.50
Explanation:
This question is a compound interest question. If the savings increased at 14% per year then the amount when he is 68 will be;
Future Value = Present Value * ( 1 + Interest Rate ) ^ Years
Years = 68 - 20
= 48
Future Value = 1,000 ( 1 + 14%) ^ 48
= 1,000 * 538.8065
= $538,806.50
(b) Prepare the general journal entry to record the revenue and related liabilities for the month.
Answers
Answer:
a. $800000
b. Account receivable Dr. 840000
To sales revenue 800000
To sales tax payable 40000
Explanation:
a. Given the total billed amount = $840000
Sales tax = 5%
Total revenue for the month = 840000 x (100 / 105) = $800000
b. Account receivable Dr. 840000
To sales revenue 800000
To sales tax payable 40000