Question

Introduction to marketing? Medals??

Answer 1

1. As a factor of production, how is a capital created?
a. By adding land to entrepeneurship
b. By adding human labor to land
c. By removing land from services
d. By using labor to create services

3. If consumers start to believe they need a product, what is likely to happen?
a. the demand becomes less elastic
b. the demand becomes more elastic
c. the supply decreases
d. the price decreases

4. Which of the follwoing commodities is a good?
a. a swimming lesson
b. a desk
c. house cleaning
d. dog walking

5. If your company uses a nonprice competition strategy, what should you focus on?
a. lowering prices
b. differentiation
c. creating direct competitors
d. the public sector

Answer 2

number 1 is b reason-In economics, factors of production are the inputs to the production process. Finished goods are the output. Input determines the quantity of output i.e. output depends upon input. Input is the starting point and output is the end point of production process and such input-output relationship is called a production function. There are three basic factors of production: land, labor, capital. These three factors are also frequently labeled "producer goods" so as to distinguish them from the goods or services purchased by consumers, which are frequently labeled "consumer goods." All three of these are required in combination at a time to produce a commodity. In economics, production means creation or an addition of utility. Factors of production (or productive 'inputs' or 'resources') are any commodities or services used to produce goods or services.

Factors of production may also refer specifically to the primary factors, which are stocks including land, labor (the ability to work), and capital goods applied to production. Materials and energy are considered secondary factors in classical economics because they are obtained from land, labor and capital.

Answer 3

Could you help me with the others?

Answer 4

yes number 2 b- reason Some forms of customer value. The marketing process involves ways that value can be created for the customer. Form utility involves the idea that the product is made available to the consumer in some form that is more useful than any commodities that are used to create it. A customer buys a chair, for example, rather than the wood and other components used to create the chair. Thus, the customer benefits from the specialization that allows the manufacturer to more efficiently create a chair than the customer could do himself or herself. Place utility refers to the idea that a product made available to the customer at a preferred location is worth more than one at the place of manufacture. It is much more convenient for the customer to be able to buy food items in a supermarket in his or her neighborhood than it is to pick up these from the farmer. Time utility involves the idea of having the product made available when needed by the customer. The customer may buy a turkey a few days before Thanksgiving without having to plan to have it available. Intermediaries take care of the logistics to have the turkeys—which are easily perishable and bulky to store in a freezer—available when customers demand them. Possession utility involves the idea that the consumer can go to one store and obtain a large assortment of goods from different manufacturers during one shopping occasion. Supermarkets combine food and other household items from a number of different suppliers in one place. Certain “superstores” such as the European hypermarkets and the Wal-Mart “super centers” combine even more items into one setting.

Answer 5

number 3 I think would be c. house cleaning-reason What Is a Commodity?

Answer: When an economist, economics professor, or economics textbook talks about a commodity, they mean a good that possesses the following properties: •usually produced and/or sold by many different companies
•Is uniform in quality between companies that produce/sell it. You cannot tell the difference between one firm's product and another.

Answer 6

I have 15 questions for this :/

Answer 7

like do have facebook??