Answer:
producers are "price takers".
Explanation:
Commodity markets is an example of A perfectly competitive market. A perfectly competitive market is characterised by many buyers and sellers of homogenous goods and services.
Because products are homogenous, sellers cannot set the price for their goods. Prices are set by forces of demand and supply,therefore, suppliers are price takers.
There are no barriers to entry and exit of firms into the market.
I hope my answer helps you
<em>The nature of the buying unit is not a way business markets and consumer markets differ</em>
<u>Answer:</u><u><em> </em></u><em>the nature of the buying unit</em>
<u>Explanation:</u>
Consumer market is basically a market that is Business to Consumer whereas a business market is mainly B2B market.
Most business marketers commit only a small part of their promotional budgets to advertising, and that is usually through direct mail efforts and trade journals It can be seen that it is due to the market structure and demand. the nature of the buying unit is not a way to differentiate.
That would be incentives of entrepreneur
by definition, incentives mean something that motivates you to do a specific activity
In this case, personal satisfaction, following own passion, making more money are the incentives of an entrepreneur
Answer
The answer and procedures of the exercise are attached in the following archives.
Step-by-step explanation:
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer:
If property rights are not well enforced, all of the following are likely to occur except;_________
A. a significant number of people will be willing to risk their funds by investing them in local businesses.
Explanation:
Other options are likely to occur, except option A. Investors cannot risk their capital investing in the local economy. This is the fate of an economy where property rights are not protected. This also underlines the need for each government to ensure that property rights are recognized and legally protected.
