1) Change the nature of the product
2) Give away discounts
3) Reduce the price of the product compared to the competitiveness of the market
<span>A strategy that is preferred by an individual regardless of an opponent's decision is called: dominant strategy. regardless of what any other players do, the strategy earns a player a larger payoff than any other. If one strategy is dominant, than all others are dominated.</span>
Answer: B) cars and petrol
Answer: This is called <u>Self-interest bias</u>.
Explanation:
When someone is using this type of bias they are doing it for their own self interest. They will use all information gathered to use the information that will benefit themselves and their interests. This can be considered unethical in some types of businesses. The person using self interest bias will try to blame others for any failures that they may have. They may also refuse to take personal responsibility in any situation.
These are three other types of bias;
- Selection bias
- Information bias
- Confounding
<h2>No. "Household production" does not contribute much to the GDP.</h2>
Explanation:
To arrive at the reason, first we need to understand the term "GDP" and "shortcoming"
Shortcoming means failure to meet certain expectations.
GDP: It is the snapshot of the economy which speaks about the production in certain period.
Since the household production does not come under market transaction and since GDP involves only market transaction, household production cannot be considered and thus it is not a serious reason for shortcoming of GDP.
