Answer: 1st to make a good business you have to start off small. For starters start doing a Lemonade Stand. If people like your Lemonade i'm sure they'll promote you by telling there friends. Then your business will get bigger and bigger until you have like a whole company.
Answer:
c. full employment
Explanation:
The classical theory states that the existence of full employment is normal in economy.To classical economists, the diversion of economy from full employment is something abnormal. Classical theory states that unemployment is caused in economy due to involvement of trade union legislation and minimum wage legislation in free market system.
So the answer is c. full employment
Answer:
d. price competition is especially vigorous, buyers have low switching costs, and the majority of industry sales are made to a few, large volume buyers.
Explanation:
Michael Porter specified 4 generic strategies for gaining competitive advantage, which are namely,
1. Cost Focus
2. Differentiation Focus
3. Cost Leadership
4. Differentiation
Cost leadership refers to charging lowest price and attaining cost advantage in the industry.
Differentiation refers to designing products with unique attributes.
Striving to be low cost provider would be most attractive when the buyers have low switching costs i.e it is easier and cheap to switch between products and wherein buyers are large and exercise considerable bargaining power.
Thus, the correct option is (d). price competition is especially vigorous, buyers have low switching costs, and the majority of industry sales are made to a few, large volume buyers.
