A Chain of 25 Photographic Portrait Stores,operating Nationwide,has Organised Its

question 83

Multiple Choice

A chain of 25 photographic portrait stores,operating nationwide,has organised its marketing organisation into different marketing activities that are headed by specialists.What type of marketing organisation is this?

• A)geographic
• B)product
• C)organic
• D)functional
• E)market

Understand the concept of total cost and how to calculate it using average total cost and output.

Identify the relationship between marginal cost, average variable cost, average total cost, and their intersections.

Determine the implications of changes in output on total costs, marginal costs, and average costs.

Comprehend the impact of fixed and variable costs on total cost, and how each changes with output levels.

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Definitions:

Baby Boomers

denote the generational cohort born approximately between 1946 and 1964, characterized by their experiences in a post-World War II environment, distinct cultural traits, and significant influence on economies and societies.

Generation X

The demographic cohort following the Baby Boomers and preceding the Millennials, generally born between the mid-1960s and early 1980s.

Long-term Orientation

A cultural characteristic that emphasizes the value of future rewards over immediate gratification.

Tradition

The transmission of customs or beliefs from generation to generation, or the fact of being passed on in this way.