In markets where competition is very intense, companies are not able to keep on competing in prices forever, as at some point their cost structures prevents sucessive price lowerings. Therefore, companies are forced to use alternative strategies to defeat their competitors and to attract larger shares of consumers to demand their products.
<u>Companies need to become more efficient in production and to introduce innovations</u>. An example of an efficiency increase is to produce at the same cost, maintaining the same market price but delivering a higher-quality product, that includes, for instance, a better packaging. This new feature has been achieved through the implementation of a new tecnique in the production process (ex: new materials for the packaging) together with an innovative and sucessful marketing campaign.
The vast majority of cases heard by the supreme court reach the court c. as appeals from lower court decisions. & d. 90% of request of writ of certiorari is denied.
Question - any raw material or agricultural product that is bought and sold is called
Answer - Commodity
Why - " A raw material or primary agricultural product that can be bought and sold, such as copper or coffee. Consumer. A person who purchases goods and services for personal use."
Answer: A
Explanation:
Because it makes the most sense
hope this helps!
