Answer:
the globalization of production.
Explanation:
Since company ABC, based in Tennessee, sources goods from Southeast Asia to take advantage of labor cost savings. This is an example of the globalization of production.
Globalization of production can be defined as the process of sourcing goods and services from other countries (locations) around the world in order to take advantage of labor cost savings and quality of other factors of production such as land and capital.
Additionally, globalization can be defined as a strategic process which involves the integration of various markets across the world to form a large global marketplace.
<em>Basically, globalization makes it possible for various organizations to produce goods and services that is used by consumers across the world</em>.
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1. Select the items or text with the formatting which you want to use again.
2. Go to the standard toolbar and then to the Format Painter button. Then Double click on the Format Painter button.
3. Now click to select each text, or area to which you want to apply the formatting.
Answer: Option (d) is correct.
Explanation:
Correct option: Market price is greater than marginal cost.
In a perfectly competitive market, there are large number of buyers and sellers. So, price is determined by the market forces.
At a point of profit maximization, price is equal to the marginal cost and we have to maximize the difference of the total revenue and total cost. It was not seen in a perfectly competitive market that the price is above the marginal cost at a profit maximizing point.
Therefore, option (d) is not true.
Answer:
Differentiation.
Explanation:
The concept of value for the customer corresponds to the expectation that the product will meet the needs, desires and features that he expects.
The customer's perception of the concept of value is affected in rational and irrational ways, such as brand image, product performance, high price, etc.
Therefore, when a company offers a product at a higher price, it is passing on to the consumer the higher production cost of an item, which has features that add greater value and functionality, such as differentiation, personalization or an unforgettable customer experience.
Differentiated products are those produced in a more heterogeneous way compared to standard products, therefore differentiated products have distinct characteristics that add greater value, such as new features, technology, design, durability, style, etc.
