An Advertising Agency That Assists Clients by Both Developing and Placing

question 243

Multiple Choice

An advertising agency that assists clients by both developing and placing advertisements may receive payment according to an incentive plan based on performance.These plans typically pay for agency costs and a 5 to 10 percent profit,plus bonuses if specific goals are met.This type of arrangement is popular among

• A) full-service agencies.
• B) in-house agencies.
• C) modified-service agencies.
• D) promotional firms.
• E) limited-service agencies.

Grasp the role of technology in the evolution of HRM practices.

Recognize the importance of demographic, economic, social, and cultural factors in strategic HR planning.

Identify sources for staying current with HR and industry trends.

Understand competitive intelligence and its relevance in strategic planning.

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Definitions:

Price Floors

A minimum price set by the government for certain goods and services, intended to ensure fair conditions and prevent market price from falling below a certain level.

Surpluses

Occurs when the supply of a particular good or service exceeds its demand, often leading to a decrease in prices.

Shortages

Shortages occur when the demand for a product exceeds the supply available at a particular price, often leading to higher prices and waiting times.

Usury Laws

Legislation that sets the maximum legal interest rate that can be charged on loans to prevent exploitative lending practices.