Why markets can only supply private goods efficiently?

1 answer:

7 0

<span>Private good is a product and/or service produced by a private business and purchased to increase the utility and/or productivity of the buyer. The majority of the goods and services consumed in a market economy are private goods, and their prices are determined by the market forces of supply and demand. Private goods are both excludable and rivalrous, where excludability means that producers can prevent some people from consuming the good or service based on their ability or willingness to pay and rivalrous indicates that one person's use of a product reduces the amount available for use by another. In practice, private goods exist along a continuum of excludability and rivalry and can even show only one of these traits.</span>

You might be interested in

Kendall Corners Inc. recently reported net income of $3.1 million and depreciation of $500,000. What was its net cash flow?

podryga [215]

Answer:

Net cashflow = Net income + Depreciation

Net cashflow = 3,100,000 + 500,000 = 3,600,000 dollars

Explanation:

Net cashflow equals net income plus depreciation.

3 0

2 years ago

Using the information provided about marketing and advertising law, determine which of the following would be a violation of thi

Vlad1618 [11]

Answer:

Publishing a sale price for an item that is not available

Explanation:

This will be misleading to the market and will break the law as the company must provide promotions for products that are available only

3 0

2 years ago

Bear Tracks, Inc., has current assets of $2,310, net fixed assets of $10,700, current liabilities of $1,420, and long-term debt

laiz [17]

Answer:

The more you sell the more you will earn :)

Explanation:

3 0

3 years ago

In personal selling, the relationship must continue for a long time, as the salesperson responds to new requests for information

Ierofanga [76]

Answer:

Presentation

Explanation:

There are six steps in making a successful sale. The first step is prospecting and Qualifying and the last one is following up on the sale.

Personal selling is the sale in which the seller makes a face to face presentation to the customer. Sales jobs range from the salespeople at the clothing stores to the engineers with MBA's who design complex systems for the manufacturers. The importance of personal selling is that it provides a detailed explanation of the product and the sales message can be varied as per the interests of the prospective customer. The size of the personal sales force can be varied as per the needs. In the above question, the salesperson responds to new requests of the customer, which is an important part of personal selling.

4 0

3 years ago

You have just been instructed to develop a schedule for introducing a new product into the marketplace. Below are the elements t

Charra [1.4K]

Answer:

Attached below is the arrangement of these elements with additional topics and arrow diagram

Explanation:

The given Elements are : Production layout , market testing , Review plant cost, select distributors, Analyze selling cost, Analyse customer reactions, storage and shipping cost, select salespeople, training sales people, trained distributors. including additional topics as well

7 0

2 years ago