FALSE. Cartels are NOT CORPORATIONS that control almost all of the production and sale of a single product.
A cartel is an agreement between competing firms to control prices of goods. They may also come into agreement to hinder the entry of a new competitor.
A cartel rises in an oligopoly. This means that few sellers are in the market and these sellers control the price and production of various goods.
Answer:
Demand for products sold at a store in a neighborhood with other stores is probably elastic
Explanation:
A demand is considered as 'Elastic' if a change in price of the product would strongly affect the quantity of the demand.
Competitors who offer similar products than your organization tend to reduce the amount of demand that come to your store. Existence of competitors give the consumers the options to choose and move around in order to seek the best offers that they can.
As a result, the shoe stores in Joey's neighborhood will have to constantly adjust their price in order to make their products seems appealing compared to the rest of the competitors. This make the demand in Joye's store keep fluctuating depending on the performance of other competitors.
Answer:
18.60%
Explanation:
Total labor force = $8 million + $35 million = $43 million
Unemployment Rate = (Unemployed/Labor force)*100
Unemployment Rate = $8 million/$43 million * 100
Unemployment Rate = 0.1860465 * 100
Unemployment Rate = 18.60%
Answer:
Limitation of the BCG model include;
• Market share and industry growth are not the only factors of profitability.
• Business can only be classified to four quadrants.
• It does not define what ‘market’ is.
• Does not include other external factors that may change the situation completely.
Explanation:
Necessary steps managers should take to overcome the limitations;
• BCG matrix can be used to analyze SBUs, separate brands, products or a firm as a unit itself. Which unit will be chosen will have an impact on the whole analysis.
• It is important to clearly define the market to better understand firm’s portfolio position.
Deposit a paycheck from your job is a method of gaining access to the
money in your checking account.
<h3>What is a Checking account?</h3>
This is also known as a current account in which customers are allowed to
make deposits and withdrawals in the banks.
Paychecks are usually deposited in banks so as to enable the customers
have access to the money in their accounts through the use of debit cards
and other forms of payments.
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