Wal-Mart, direct competitors would be places like Target, K-Mart, and Kohls.
Economists can predict what consumers in general will do because all humans seek D. BENEFIT MAXIMIZATION.
Consumers want to get the value for their money. They buy goods that are worth the amount they are willing to spend.
For example, in comparing two products, product A is cheaper but has a shorter life-span. Product B is pricier but lasts longer than Product A.
Given the choices, I'd prefer to buy Product B because I will benefit form it for a longer time than Product A.
Answer:
Increase; fall
Explanation:
Due to the slightly above normal rainfall levels which led to a large black morel harvest, <em>the supply of the commodity will increase</em>.
However, since demand for the commodity is expected to remain the same as it was in 2007 despite the increase in supply, <em>the equilibrium price is expected to fall</em> as supply exceeds demand.
The answer is B. 1971
The first programmable microprocessor was completed in late 1971.
Hope this helped. Have a great night!
Answer:
Tina's Tunes is likely to fail because it is ignoring the technological environment.
Explanation:
Technological Environment Technological change can have impact on the decisions taken by business.
Technological change can involve:
– New process of production: new ways of doing things which rises productivity of factor inputs, as with use of robotics in car assembly techniques which has dramatically raised output per assembly line worker. For example around 80% of technological change has been process innovation.
– New products: For example, online banking and many new financial services are direct result of advances in micro processor based technologies.
A firm, which is unable to cope with the technological changes, may not survive.
