Opportunity cost Have you ever been in the situation deciding which cloth to buy? Have you ever facing the dilemma of to study or to play? Have you ever consider as a seller and choose to lower the price or raise it? In the field of economics‚ here’s a solution for you. The magic word is “opportunity cost”. Opportunity cost in terms of economy is the highest-value alternative one has to give up to engage in an activity. In other words‚ using the same resources such as money and time‚ the best
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The Influence of Customer Satisfaction and Switching Costs on Customer Retention: A Survey of Retail Internet Banking Users in Hong Kong WONGChjBo BSc(Hons)‚ MBA‚ MA‚ MSc Student ID No. 9911675L International Graduate School of Management Division of Business and Enterprise University of South Australia A Thesis submitted in total fulfillment of the requirements for the degree of Doctor of Philosophy in Business and Management 24 January 2005 TABLE OF CONTENTS Page No.
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Transportation Cost & Pricing Transportation Cost & Pricing Compare and contrast the cost structures of rail‚ motor carriers‚ and air. When you compare the rail cost structure to that of the cost structures of the motor‚ and air carriers‚ you will see that the rail carriers have a high structure cost. “One of the characteristics of railroads as previously noted is the level of fixed costs present in their cost structures.” (Coyle‚ 2011) These fixed cost exists because the ownership of
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You have two types of inventory making up your cost of goods sold: 1. Direct materials: This is the inventory the you purchase to make the products. For example‚ to handcraft a leather purse‚ you may purchase leather‚ zippers‚ snap‚ grommets etc. 2. Work in process: This inventory category includes direct materials that have been partially but not completely made into sellable products - for example‚ your leather purse is missing a zipper closure or straps. Ok‚ now that you understand the two different
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Cost Accounting Fundamentals Introduction to Cost Accounting Cost accounting is an internal reporting system for an organisation’s own management for decision making. It is the process of accounting for costs. It includes the accounting procedures relating to recording of all incomes and expenditures and the preparation of periodical statements and reports with the object of ascertaining and controlling costs. It is thus the formal mechanism by means of which cost of products or services are
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Unemployment What is unemployment cost ? Unemployment is well as something bad ‚ most economist agree that high levels of unemployment are costly not only to a person directly affected but also as the economy as a whole. Some economist are convincing themselves that there is a certain level of unemployment that we can not erased. Elevated unemployment imposes significant cost on someone‚ the society and the county. The cost of unemployment to the individual is not something
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reality of the different lifestyle college has to offer. The cost of college can become pricey between tuition‚ books‚ as well as living expenses. In addition‚ college offers a more advanced social environment than high school and you’re fairly responsible for transportation in college whereas in high school they provide transportation. Firstly‚ the cost of college can become extremely expensive compared to high school due to the cost of living‚ student tuition‚ and the unseen book expenses. Unlike
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Cost Segregation is the use of accelerated depreciation methods on certain assets in order to increase depreciation expense‚ which lowers taxable income and therefor increases cash flow. For this cost recovery system‚ it is procedure to classify components of property‚ for example a building‚ into different categories‚ and depreciate them accordingly. According to the Journal of Accountancy (journalofaccountancy.com‚ cost segregation begins at the time of purchase. At this time‚ the client who
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Promotional Mix 6 Advertising 6 Direct Response Marketing and E-Active Marketing 6 Public Relations 6 Sales Promotions 6 4.2 Promotional Opportunities Analysis 6 4.2.1 Communication Market Analysis 6 4.2.2 Communication Objectives 8 4.2.3 Promotional Strategies and Tactics 8 5. Media Mix and Plan 9 5.1 Media Selection 9 5.1.1 Television Media Plan 10 5.1.2 Radio Advertising 10 5.1.3 Magazines and Newspaper Advertising 11 5.1.4 Internet 11 5.1.5 Direct Mail 12 5.1.6
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element between the physical product characteristics and the strategy of the producer company Stanimir Andonov* The article discusses the differentiation among the product offers of companies working in the global markets‚ as well as the strategies which they use and could use in that respect. The main idea of the paper is that the principle “differentiate or die” (Jack Trout) has died. Today the global brands don’t strive to differ from their competitors in everything and at any cost. As an
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