Answer:
1. Private ownership of factors of production
2. Freedom to engage in commercial activities
Explanation:
<u>1. Private ownership of factors of production</u>
In the US, individuals and firms are allowed to own properties. A significant percentage of the factors of production are in the hands of the private sector. Firms and individual influences the production of goods and services because they allocate resources to meet market demand.
<u>2. Freedom to engage in commercial activities</u>
Entrepreneurs have the freedom to choose the type of business they want to start. They can also select the location and the time they want to operate. There are no upper limits to firms that can participate in the market. Consumers are free to choose their suppliers. The market presents a variety of goods and services to consumers to pick from.
Answer: The answer is $27.25
Explanation:
Let x be the price Sweet dreams will charge to earn the profit of $75,000
New sales units = 20,000
New variable cost = $19
We know, Sales - Variable cost - Fixed cost = Profit
Now applying the equation,
20,000x - (20,000*19) - 90,000 = $75000
20,000x = $75,000 + 380,000 + 90,000
therefore, x = $27.25
So, Sweet Dreams will charge $27.25 to earn the same profit it is earning now i.e. $75000 per year.
Answer:
A change in the expectations of consumers about prices - a shift of the demand curve for peanut butter
A decrease in the price of peanut butter - a movement along the demand curve for peanut butter
A decrease in the number of consumers - a shift of the demand curve for peanut butter
Explanation:
Only a change in price of a product would lead to a movement along the demand curve for that product.
A decrease in the price of peanut butter would increase the quantity demanded for butter. This would lead to a movement down the demand curve.
A change in the expectations of consumers about prices can shift demand curve either to the left or right.
A decrease in the number of consumers would shift the demand curve to the left.
I hope my answer helps you
Answer: Differentiating
Explanation:
Sprout company as described in the question are making use of product differentiation to ensure parents and children consumption needs are met. Product differentiation in marketing occurs when a company distinguishes their products to meet the needs of the different types of consumer groups available in their target market.
According to analyzes by the Bureau of Labor Statistics, there will be expansion of complex goods and services, which require greater education in their production and marketing. Thus, these services tend to cater to those people who have the resources to pay for it. This means that the rapid expansion of services expected over the next five years will focus on the richest. Healthcare, education and leisure firms will tend to produce more personalized services to increase their profitability. This is basically the market logic of the economy.
