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motikmotik
2 years ago
10

______ refers to an increase in the variety of products and services a firm offers or markets and the geographic regions in whic

h it competes.
Business
1 answer:
N76 [4]2 years ago
6 0

The increase in the variety of products and services a firm offers or markets and the geographic regions in which it competes refers to diversification.

<h3>What is diversification?</h3>

Diversfication is the process by which a firm increases the product offerings to its customers in a particular region. The purpose of diversification is to increase the options avaiable to customers, increase profit margin and increase market share.

To learn more about diversification, please check: brainly.com/question/321207

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Answer:

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Explanation:

Since less labor will be used, total unemployment will increase. Besides less labor being used, more capital will be used, so the share of labor in total output will decrease. Labor efficiency increases, since you need less labor to produce the same or even a larger amount of output.

New technologies tend to increase the wages of high skilled labor and management. Since the Gini coefficient measures income inequality, then higher wages for a few will increase inequality.  

This is an example of what is happening in the US, where highly trained labor is getting paid better every time while unskilled labor is getting paid the same as many years ago or their wage has even decreased with time. This shows how important a college education is, and the difference will only keep increasing.

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