How does the idea of tradeoff relate to opportunity cost? How can you determine whether an opportunity cost is increasing or decreasing? Give an example of each. How do implicit costs and opportunity costs differentiate financial profits from economic profits? How does opportunit...
What are the factors of production and do how they relate to the opportunity costs of your decisions? Which of the following distinctions does not help to explain the difference between relevant and irrelevant cost? a. historical vs....
It further helps customers relate to the face behind the brand, which can translate directly to sales. Your brand voice should remain consistent across all channels to reinforce your identity. Some key elements to include are: Persona: Identify how you want to be perceived by your target ...
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Typically, these relate to monthly SaaS subscriptions, employee salaries, or rent. Variable expenses –these expenses change in direct proportion to how much you sell. Common examples include the cost of goods sold and credit card payment processing fees. This helps business owners better understand...
Specialty businesses:Do you plan onselling CBDor do you have another niche business idea? Check that your platform has the capabilities to support your line of business. Mobile view:Does your website builder optimize for mobile? Will shoppers be able to comfortably browse your store on their ph...
How does a target cost relate to price?Product Pricing:Product pricing is defined as the method employed to fix the best price for the product or service under consideration. It takes into account the maximization of profits and share value along with the market conditions and consumer demand....
Explain each of the functions of market logistics. How does it fit into the broader concept of supply chain management (SCM)? Explain how scarcity and opportunity cost relate to each other. Consider the market-response model. Explain the various flo...
But how does a nation’s education system relate to its economic performance? Why do most workers with college degrees earn so much more than those without degrees? Understanding how education and training interact with theeconomycan help explain why some flourish while others falter. ...
Last, the availability ofsubstitute goodscan matter. If consumers can easily switch to alternative goods or services in response to a tax, the impact on the original product may be more significant. Think about if the government imposed a specific tax to a certain geographical region. Consumers c...