Examine Map 16-2 in Your Text Book

question 49

Essay

Examine Map 16-2 in your text book.Why did large numbers of blacks remain in the South despite the Great Migration of the early 1900s?

Identify the internal and external factors influencing buying decisions.

Learn how product information is internalized and influences the buying decision.

Understand the difference between product features, advantages, and benefits.

Learn effective strategies for handling objections in sales.

---

Definitions:

Total Cost

The aggregate amount of expenses incurred by a business in producing goods or services, including both fixed and variable costs.

Economic Profit

The variance between gross receipts and all outlays, including both tangible and intangible costs.

Accounting Profit

The total revenue of a business minus the explicit costs of operating, not including opportunity costs.

Implicit Costs

The opportunity costs that are not directly paid out but represent the loss of potential income from using resources in a certain way.