The LifeguardStore

question 127

Multiple Choice

The LifeguardStore.com is an Internet-based business serving customers by providing products which meet their swim,lifeguard or facility needs.The company offers a dedicated team of consultants to work with swim teams across the globe to design and deliver apparel appropriate for their needs.Once designed,a dedicated web portal is created so members of the swim team can purchase their items directly from The LifeguardStore.com.The ability to customize products for swim teams is an example of the _____ capability of e-marketing.

• A)​personalization
• B)​global reach
• C)​right-time marketing
• D)​integrated marketing

Identify the components of total revenue and total cost to determine profit.

Understand opportunity costs and how they influence business decisions.

Identify the normal rate of return and its importance in economic profit calculations.

Analyze the impact of production and pricing decisions in perfectly competitive markets.

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Definitions:

Talcott Parsons

An influential American sociologist known for his theories on social action, systems theory, and the role of values in social order.

Goal-attainment Imperative

A concept in sociology and organizational theory indicating that organizations and societies mobilize resources and establish procedures to achieve specific goals.

Behavioral Organism

A concept in psychology and sociology that views human behavior as the result of interactions between individuals and their environments.

Cultural System

An organized set of symbols, values, norms, and practices shared by a group that shapes their view of the world and their behavior within it.