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Scenario 17.1
The data in the table tell us that both the United States and Mexico produce wheat and beef. The United States can make 6 bushels of wheat or 1 pound of beef in a day. Mexico can make 2 bushels of wheat or 4 pounds of beef in a day.
-In the table in Scenario 17.1, what is the opportunity cost of 1 pound of beef in the United States?
Sales Contest
A short-term incentive designed to elicit a specific response from the sales force.
Bonus
A payment made at management’s discretion when the salesperson attains certain goals; usually given only periodically, such as at the end of the year.
Sales Management
Involves the planning, direction, and control of personal selling activities, including recruiting, selecting, training, motivating, compensating, and evaluating, as they apply to the sales force.
Personal Selling Activities
Direct interaction between sales representatives and potential customers to persuade the customer to make a purchase.
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