Which one of the costs below is NOT a production cost?
A) The wages paid to workers
B) The raw materials for manufacturing products
C) The dividends paid to shareholders
D) The shipping costs that get the product to the customer
Answer: C
Explanation: C) Production costs include, among other items, the wages paid to workers, the raw materials for manufacturing products, the overhead (such as electricity, water, plant space, and so on), and the shipping costs that get the product to the customer.
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_____ may be defined as the exchange of information with those who are alike culturally, linguistically, and/or geographically.
A) Group communication B) Intrapersonal communication C) Interpersonal communication D) Public communication E) Mass communication
Which of the following is true of businesses with a narrow market vision?
A) Their view of market demand enables them to recognize emerging market opportunities. B) Their view of market demand enables them to achieve maximum market potential. C) They have the ability to see unserved needs that no one is addressing. D) They do not see beyond the articulated needs of served customers. E) They include all potential substitute products.