Suppose Another Cyclone Once Again Destroys the Australian Banana Crop

question 77

Multiple Choice

Suppose another cyclone once again destroys the Australian banana crop, while at the same time medical evidence suggests eating bananas prevents weight gain. We would expect the price of bananas to__________ and the quantity of bananas to ___________.

• A) increase; increase or decrease
• B) increase; decrease
• C) increase; increase
• D) decrease; increase or decrease

Interpret and apply terms of payment to ensure discounts are maximized.

Calculate the rate of markup on selling price versus markup on cost.

Understand the relationship between operating profit, overhead, and mark-up in retail settings.

Analyze sales strategies through discounting and its effect on profit.

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Definitions:

Theory

A set of principles on which the practice of an activity is based, or an idea used to account for a situation or justify a course of action.

Agreeableness

Agreeableness is a personality trait characterized by being kind, sympathetic, cooperative, warm, and considerate towards others.

Fundamental Need

Refers to a basic human requirement that is essential for individuals to live a healthy and well-balanced life, such as food, water, shelter, and love.

Survive

To continue living or existing, especially in spite of danger or hardship.