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dybincka [34]
3 years ago
15

What does it mean that in a free market that buyers compete against other buyers for goods and services and that sellers compete

against other sellers?
Business
1 answer:
mina [271]3 years ago
4 0
That is economics. Also known as 'Supply and Demand'.It means that the buyers are competing against each other like if one person wants the new Lamborghini and another also wants it, but there is only one in stock, they will have to compete not by fighting but by business, same with the sellers. If there is this new hat and a lot of sellers have it, the sellers will have to compete to sell the hats at the best price, but also earn a profit. Who ever has the best price will attract the buyers.

(P.S. A free market is a market in which the Government does not get involved between the buyer and the seller. That is called Capitalism. In some countries, the Government puts the price. So the Government is getting involved. That is called Communism:)
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The main shortage cost when a producer does not have a requested item in inventory is
Kryger [21]

Answer:

D. The cost from the loss of customer goodwill.

Explanation:

The main shortage costs are the loss of customers that would now go and shop elsewhere. These costs are crucial as once the goodwill is lost it is unlikely the customers would return due to not having being catered the first time. Business want to attract new customers but most importantly they want to retain customers.

This type of shortage cost can be objectified further in marketing costs that were spent to get the customer at the store front in the first place which have been in vain.

All other options are restocking costs that are to be incurred regardless in lead times.

Hope that helps.

5 0
3 years ago
For a particular good, a 10 percent increase in price causes a 3 percent decrease in quantity demanded. Which of the following s
SCORPION-xisa [38]

Answer:

The correct answer is letter "D": The relevant time horizon is short.

Explanation:

Time horizon is the length of time you can part with your money before you need it again. If you have a long time horizon, there are more opportunities to make a profit out of an investment  but if the time horizon is short there are more possibilities to end up with losses out of an investment. In other words, <em>the longer the time horizon the most likely to profit and the shorter the time horizon the most likely to end with losses</em>.

7 0
3 years ago
Stanley is 21 years of age, single, living at home with Mom, Dad, and his younger sister, but he is not claimed by his parents.
elixir [45]

The document that he needs to complete his FAFSA application is D. None of the above.

FASFA Application is an acronym for The<u> Free Application for Federal Student Aid. </u>This is an application that is done that allows students to be considered for Federal student aid.

The documents that a student needs to complete his FAFSA application include one's security number, the <em>Federal Income tax returns</em>, and every other record of the money that the person has earned.

From the complete question, none of the above options are given, therefore, the correct option is None of the above.

Read related link on:

brainly.com/question/24962716

7 0
2 years ago
According to David Parker and Alison Mobey's study of project managers: there was a low understanding of the tools and benefits
nataly862011 [7]

Answer:

The answer is "First choice"

Explanation:

According to David Parker and Alison Money's Project Leader study, a systematic risk assessment has already shown a shallow grasp of the tools and benefits.  One reason that was found in their phenomenologic analysis of the project leaders by David Parker and Alison Mobey2 is that they've had no understanding of the tools and benefits of formal project risk analysis. The lack of formal instruments for risk management is seen by many as an obstacle to the implementation of a risk management program.

3 0
3 years ago
According to OSHA standards, a competent person is defined as one who is capable of identifying existing and predictable hazards
Olin [163]

Answer:

True

Explanation:

OSHA standards are health and safety rules that an employer must put in place to ensure the safety of employees and reduce hazards in the workplace.

Different standards are applicable to different industries like the construction , maritime and other industries.

A competent person , according to the standard is one who is capable of identifying existing and predictable hazards in the surroundings , or working conditions which are unsanitary , hazardous or dangerous to employees and who has authorization to take prompt corrective measures to eliminate them.

6 0
3 years ago
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