Case 9-1 ​​Eamon Is Planning to Start an Online Store That Specializes

question 64

Multiple Choice

Case 9-1
​​Eamon is planning to start an online store that specializes in books and electronics. Since it's his first business, he has a lot of doubts. Help Eamon set up his business by answering the following questions.
-Eamon wants to provide a discount to premium buyers who order in large quantities. He wants to create a code for each price and share it with them. Also, he wants to ensure that only the premium buyers can decipher the code shared. In this scenario, which of the following codes would you suggest Eamon to use?

• A) Cipher code
• B) Mnemonic code
• C) Action code
• D) Derivation code

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Definitions:

Civilian Goods

Products and services intended for use by the general public rather than for military purposes.

Real Cost

The total cost of producing a good or service, including the opportunity cost of alternative uses of resources and inputs.

Wartime Shortages

Periods during war when there is a lack of availability of essential goods and resources due to increased demand and disrupted supply chains.

Opportunity Cost

The benefit missed out on when choosing one alternative over another, emphasizing the impact of choice on resource allocation.