How do consumers use price in their assessments of value?
What will be an ideal response?
From a consumer's standpoint, price is often used to indicate value when it is compared with the perceived benefits such as quality, durability, and so on of a product or service. This relationship is described in the definition of value: Value = Perceived benefits รท Price. So, for a given price, as perceived benefits increase, value increases.
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Who among the following is examining the validity of a job evaluation?
A. Rita, who is requesting the management for a reanalysis and a reevaluation of the required skills as she feels her job has been evaluated incorrectly B. Laila, who is measuring the effectiveness of a formal appeals process C. Keira, who is measuring the degree to which the job evaluation plan matches an agreed-upon pay structure for benchmark jobs D. Keith, who is surveying employee attitudes about the job evaluation plan
The technical support services that a company delivers vary according to company size, company goals, and customer expectations.
Answer the following statement true (T) or false (F)
If variable expenses decrease and the price increases, the breakeven point decreases
Indicate whether the statement is true or false
Flexible budgets are powerful control tools because
A) they allow managers to deal with uncertainty B) they allow the calculation of what cost should be for the actual level of activity C) they allow the preparation of meaningful performance reports D) they help measure managerial efficiency E) all of these