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1 year ago

Any action, other than lowering its price, that a firm undertakes to increase the demand for its output is called?

1 answer:

5 0

Any action that a firm takes to increase the demand for its product or output other than lowering its prices is called non-price competition.

A firm usually makes a non-price competition strategy that distinguishes its output from its competing output on the basis of attributes like workmanship and design etc.

The non-price competition strategy involves advertising, product differentiation, promotion, and supply distribution. This non-price competition strategy allows a firm to distinguish its product and increase its demand against its competing product without lowering the price.

Despite the benefits of a non-price competition strategy, it requires a lot of research to make distinguish the product from its competing product. Usually, buyers are not aware of the quality of the product and they don’t know which firms provide greater quality products. It requires a lot of advertising and promotion etc.

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Clem Oatley could grow wheat and barley. He could grow 75 bushels of wheat or 125 bushels of barley using the same resources on

BabaBlast [244]

Answer:

Clem should specialise in wheat production because he has higher profits there

Explanation:

Clem needs to make a decision on the product that will maximise his profits and not just the number of units of products he can manufacture.

If he produces only wheat he will have profit of 75 bushels * $2 = $150

If he produces only barley his profit will be 125 bushels * $0.80 = $100

This shows that wheat is more profitable for Clem. Even though he can produce more units of barley.

6 0

3 years ago

Read 2 more answers

Would the outcome have been different if the roles of board chairman and CEO in BP had been combined, as in many large American

hram777 [196]

$\huge \text{Answer:}$

In many companies, the chief executive officer (CEO), who holds the top management position in the company, also serves as chairman of the board. This is often the case with companies that have grown rapidly and still retain the initial founder in those roles.

8 0

3 years ago

Employees are required to take vacations. 2. Any member of the sales department can approve credit sales. 3. Paul Jaggard ships

aliina [53]

Answer:

1. This is an example of the practice of good human resource principles

2.This is an example of poor establishment of responsibilities

3. This is an example of lack of segregation of duties

4. This is an example of independent internal verification

5. This is an example of the practice of physical control

Explanation:

1. Employees are required to take vacations.

This is an example of the practice of good human resource principles

2. Any member of the sales department can approve credit sales.

This is an example of poor establishment of responsibilities

3. Paul Jaggard ships goods to customers, bills customers, and receives payment from customers.

This is an example of lack of segregation of duties

4. Total cash receipts are compared to bank deposits daily by someone who has no other cash responsibilities.

This is an example of independent internal verification

5. Time clocks are used for recording time worked by employees.

This is an example of the practice of physical control

7 0

3 years ago

[based on the results of the simulation, can policy market interventions cause a change in consumer or producer surplus? explain

WITCHER [35]

When the intervention rises the price stage of goods, then the incentive to supply extra desires increases and consequently growing manufacturers' surplus. So policy market can motivate both client and producer surplus.

A tax causes consumer surplus and producer surplus (earnings) to fall.. some of those losses are captured inside the tax, however, there may be a loss captured with the aid of no celebration—the value of the devices that could be exchanged had been there no tax. those lost gains from trade are called deadweight losses.

For each monetary transaction, there can be both producer surplus (or profit) and client surplus. The mixture–or blended–a surplus is called the economic surplus.

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6 0

1 year ago

The following are the transactions of Spotlighter, Inc., for the month of January:

coldgirl [10]

Answer:

Spotlighter, Inc.

Cash

Account Titles Debit Credit

Beginning balance $0

Notes Payable $4,740

Common stock $5,430

Equipment $1,000

Supplies $1,100

Ending balance $8,070

Notes Payable

Account Titles Debit Credit

Beginning balance $0

Cash $4,740

Equipment 1,600

Ending balance $6,340

Common stock

Account Titles Debit Credit

Beginning balance $0

Cash $5,430

Equipment

Account Titles Debit Credit

Beginning balance $0

Cash $1,000

Notes Payable $1,600

Ending balance $2,600

Supplies

Account Titles Debit Credit

Beginning balance $0

Cash $1,100

Accounts Payable $1,500

Ending balance $2,600

Accounts Payable

Account Titles Debit Credit

Beginning balance $0

Supplies $1,500

Ending Balance $1,500

Explanation:

1) Data and Transaction Analysis:

a. Cash $4,740 Notes Payable $4,740

b. Cash $5,430 Common stock $5,430

c. Equipment $2,600 Cash $1,000 Notes Payable $1,600

d. Supplies $1,100 Cash $1,100

e. Supplies $1,500 Accounts Payable $1,500

6 0

3 years ago