To address overproduction, companies relied on advertising and personal selling. This was the
<h3>What was the Great Depression?</h3>
This was a period in American history just after the World War when there was great economic recession and life was hard for people.
With this in mind, we can see that the sales oriented era had to do with the business style which coincided with the Great Depression as the people made use of advertising and personal selling as a way to increase sales.
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Answer:
b
Explanation:
Another definition:
It is the purchase price of an asset + the costs of operating the asset
Buying is the highest risk investment because the outcome is unknown and you have to take a gamble.
If labor costs are 60 percent of production costs, then a 15 percent increase in wage rates would increase production costs by <u>9 percent.</u>
<h3>
What are labor costs?</h3>
- The total of all employee wages, employee benefits, and payroll taxes paid by an employer constitutes the labor costs. Direct and indirect (overhead) labor costs are separated.
- While indirect costs are related to labor costs, such as personnel who maintain industrial equipment, direct costs include wages for the employees who make a product, including those on an assembly line.
- While indirect costs are related to support labor, such as personnel who maintain industrial equipment, direct costs include wages for the employees who make a product, including those on an assembly line.
- The price of goods or services may fluctuate away from their genuine cost if labor costs are poorly allocated or evaluated, which could hurt earnings.
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A purely competitive industry has a very <u>large </u>number of sellers, whereas the other three market structures reflect a progressively <u>smaller </u>or <u>decreasing </u>number of sellers.
What are three examples of a market that is only competitive?
Agrarian goods like corn, wheat, and soybeans are excellent examples of a market that is purely competitive. Monopolistic competition is similar to pure competition in that it has few barriers to entry and many suppliers.
What exactly is a product whose market is only competitive?
The characteristics of a market with pure competition the products that are sold are identical. Every seller is the same. It is simple for new businesses to enter the market. Products are priced according to what customers are willing to pay.
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