These is a major advantage of a market economy is it can change direction rapidly when needed as markets change. Thus second option is correct.
<h3>What is Market Economy?</h3>
Market Economy refers to the economy in which the prices of the goods and services are determined by the two market forces that are supply and demand.
There is a less control of the government in the market economy and therefore all the decisions are taken by the private individuals. Thus option 1st is incorrect.
The Prices of the goods and services are determined by the supply and demand forces and the prices are kept as per the affordability of the customers. Thus option 3rd is also incorrect.
Therefore the correct option is 2nd one as the market changes the price of the good and services are also effected and get changed.
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Lena makes $45 profit.
Extra information:
The amount of profit Lena makes is 3/4th of the profit Joe makes, seeing as when Joe makes $4 profit, Lena makes $3 and $3 is 3/4th of $4. Therefore, when Joe makes a profit of $60, Lena makes a profit of (60 x 3/4) $45.
Answer:
The correct answer is (A)
Explanation:
Customer driven, otherwise called customer-centric, is a way to deal with working together that spotlights on making a positive encounter for the client by amplifying administration as well as item contributions and building connections. A customer-centric method for working together is a way that gives a positive client experience when the deal so as to drive rehash business, upgrade client commitment and improve business development.
Answer:
b. Market penetration
Explanation:
As Nutrimax Corp has designed extensive and elaborate advertising campaigns for its existing products. The campaign mainly focuses on the features and benefits of the products that differentiate the cereals from the competition. Nutrimax Corp. is using market penetration strategy. In market penetration strategy, firm wants to increase and expand its business and sales by focusing on the existing market with the help of existing products and services as it has been done by Nutrimax Corp in this case. Firm targets the same customers with the same products and services but with better and enhanced advertisement, product features, offers, discounts and schemes.