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4 years ago

Why do markets need both adequate competition and adequate information?

1 answer:

8 0

<span>Let's think about you want to build your home. You know 3 constructors who can build your home as you want to. But the price rate vary to each constructors. so made a tender and call these 3 constructors to join. At last they present their rate to build your building. Here is the question that who would you choose? You must choose that constructor who present the least rate for that tender. And you select the ONE. so you take a competition on three of them. that's why market need adequate competition. So you done it by lower price. It is a important terms that highly executed in business world. Think you want to buy something from another company but you don't know about that product. It means you are ignoring the fact that your money is under a good deal or bad. you have no interest about your money. but you are doing business for the money. so that you need that adequate information for that product. nothing else...</span>

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I have 2 questions and I need help. I am giving 20 points, 10 for each question.

Dahasolnce [82]

Answer:

umm i rrly dont know just need points thxs

Explanation:

4 0

3 years ago

Edward Corporation had net credit sales during the year of $750,000 and cost of goods sold of $500,000. The net accounts receiva

spin [16.1K]

Answer:

8.108 times

Explanation:

Given:

Net credit sales = $750,000

Beginning accounts receivable = $75,000

Ending accounts receivable = $110,000

Average accounts receivables = $\frac{Beginning\ balance + closing\ balance}{2}$

= $\frac{75,000,+,110,000}{2}$

=$92,500

Accounts receivable turnover ratio = Credit sales ÷ Average receivables

= 750,000 ÷ 92,500

= 8.108 times

7 0

3 years ago

Salespeople bringing suggestions for a new fast food item to the headquarters of their food manufacturer is an example of ______

sleet_krkn [62]

<span>Salespeople bringing suggestions for a new fast food item to the headquarters of their food manufacturer is an example of: Idea Generation
idea generation refers to developing facts and data into an abstract concept that will lead to an idea. This is the step that salespeople need to solve before they can move to constructing that abstract concept into an executable idea.
</span>

7 0

4 years ago

The term mercantilism can best be defined as:

lakkis [162]

The correct answer that corresponds to the given question is letter b, when children tend to enter the same or the similar occupation as their parents. It is because mercantilism is being defined as a belief in which there is benefits to be obtained when undergoing a profitable trading.

6 0

4 years ago

All of the following are key characteristics of a monopolistically competitive industry except A. a differentiated product. B. a

Maksim231197 [3]

Answer:

B. Homogenous product

Explanation:

Monopolistic competitive market is a market structure in which there are many sellers selling differentiated product.

Differentiated product are product that vary in taste or style. They are goods that can be substituted.

Monopolistic competitive firms gain some degree of market power by differentiating their products from those of other firms in the industry. Monopolistic competition firms achieve price control by selling a product that is in some way(s) different from close substitutes product.

Features of Monopolistic competitive firms

1. Existence of many sellers

2. Heterogeneous goods are sold

3. Existence of close substitute

4. Absence of barrier to entry of new firms and free exit to existing firms.

5. Existence of competitors.

4 0

3 years ago