Answer: b.Correctly ignored a sunk cost
Explanation:
Sunk costs are those that are already incurred and should not have any influence on the decision to be made.
The cost of the ticket to the play has already been incurred and could not be sold, exchanged or transferred so was a sunk cost. By going to the concert with Simone, Ravi decided to ignore a sunk cost and he was correct to do so.
Answer:
planning stage of marketing cycle
Explanation:
The planning stage is that when the operation proposals are recorded, the project deliver-ability and specifications are determined, and the timetable for the program is set. It means creating a set of policies to help direct your team through the stages of project application and completion.
To put it another way, project preparation applies to all you do to set up your project for success. It's the phase you're going through to determine the steps needed to establish your project priorities, describe the scope of what needs to be done and build the task list to do that.
Answer:
A) Information transmitted to large segments of the population
Explanation:
Mass communication is information transmitted to large segments of the population mainly through mass media outlets (e.g. radio, TV, internet websites, YouTuube, magazines, etc.). Many people confuse mass communication with mass media, but mass communication is the message and mass media is the carrier.
Culture is defined as the shared values, attitudes, beliefs, and practices that characterize a social group, organization, or institution.
Answer:
manufacturer --> explicit cost
wages and utilities --> explicit cost
implicit cost --> rent of the showroom
implicit cost --> accountant salary
Explanation:
Implicit cost:
A cost already occurred but not necessarily shown or reported as a separate expense. It represents the opportunity cost of internal resources used without explicit compensation. The loss of potential income. but not of profits.
Resuming Implicit cost comes from the use of an asset, rather than renting or buying it.
Explicit cost:
Is a cost that occurs, identificable and accounted. It occurs during business operations and has a clearly defined dollar amount.
Explicit and implicit costs are utilized in the calculation of economic profit. They are used to determinate profitable of a business
