Explain the difference between cost of goods sold and cost of goods manufactured.

Q: What are the rules regarding the sale of goods by auction under the Sale of Goods Act?

A: The sale of goods by auction is a unique method of conducting transactions, where goods are sold to…

Q: Explain the purpose of consumer protection laws.

A: Consumer protection laws are designed to safeguard the rights and interests of consumers in various…

Q: Discuss the cocept of ethics. Why is purchasing profession sensitive to ethics

A: Ethics are the rules and regulations that would lead an individual to act in the right manner.…

Q: Discuss five (5) characteristics of public supply.

A: Public supply is providing essential goods and services by the government or public entities to the…

Q: Tiers of Environmental Cost and Benefits

A: Multiple activities are being done in the production and the manufacturing organizations to convert…

Q: Why should a corporation take measures during commercial operations?

A: Success in the corporate world depends not only on strategic decision-making and good execution, but…

Q: Describe the rights of consumers with respect to credit cards, payments, collection, credit…

A: Consumer rights:Every country prescribes its own set of consumer rights to its people to ensure…

Q: Explain the purpose of consumer protection acts or laws.

A: Customers are protected by consumer protection laws from dishonest business practices, inferior…

Q: What are the factors used to produce goods and services?

A: Product development is the process which is taken place in marketing function. It is because…

Q: What is price discrimination? How does it benefits firms?

A: Price, which is the value assigned to a good or service, is the outcome of a challenging set of…

Q: What is price fixing, and how does it violate antitrust laws? Describe the potential legal…

A: Price refers to the monetary values that is charged by the company from it's customers for selling…

Q: In guiding economic decisions surrounding energy policies what is role of price?

A: Energy is a core component of modern economies. Economic, foreign, and national and international…

Q: tangible and intangible costs with the use of examples.

A: Costs that are tangible Tangible prices are directly related to products that have already got…

Q: identify agencies that regulateadvertising.

A: The government has put up numerous agencies for mandating the rules of advertisement and regulating…

Q: Explain the term Brokers and agents?

A: A broker is a person or firm that performs as a mediator between an investor and a securities…

Q: Explain the concept of consumer protection laws and provide examples of unethical business practices…

A: Consumer protection laws are designed to safeguard the rights and interests of consumers in their…

Q: Explain the meaning of enterprise

A: Marketing Management can be described as a field of study under the umbrella of management in which…

Q: Why should a corporation take measures during commercial operations?

A: Businesses are intricate organizations that need a variety of security measures when operating daily…

Q: Strategies to attract partnerships in a charity organization

A: Partnerships refer to a business structure where two or more individuals or businesses come together…

Q: explain and example of technical fisbility and commercial viability

A: Technical feasibility refers to the ability of a product or project to be developed using available…

Q: Summarise and provide examples of transaction alternatives between businesses, consumers and…

A: Transaction refers to the activity of buying or selling goods and services between individuals,…

Q: explain the different types of consumer and industrial products

A: Industrial products depend on the interest for the shopper products they help to deliver. Industrial…

Q: Explain four (4) objectives of public supply.

A: The objectives of public supply, are centered around the government's responsibility to meet the…

Q: Choose 1 retail business and discuss how they maintain their ethics and social responsibility.

A: One retail business that has been recognized for maintaining its thics and social responsibility is…

Q: In the sale of goods governed by UCC, are merchants held to a higher standard than common/lay…

A: Please find the answer below.SALE OF GOODS:A contract for the sale of things is one in which the…

Q: Explain how regulatory forces ensure competition and protect producers and consumers.

A: Regulation exists to protect companies and customers.

Product and Service Classification

Classification of goods and services categorized between industry and customer goods is known as Product and Service classification. It is based on brands, quality, and quantity which companies deliver to the concerned client. Industrial goods are produced for industrial work, whereas consumer goods are produced for personal consumption by the customers. Marketing and sales need technological methods, a healthy environment, proper market strategies, marketing environment in terms of productivity and profit.