Answer:
B. They make choices based on their self-interests.
Explanation:
A market economy can be defined as the economy of a country where by the government has a minimal influence or intervention on how the market operates.
A market economy is regulated by the individuals that owns the businesses in that economy. These individuals have the ability to direct resources that they need from production to their firms and businesses.
A market economy is largely or greatly influenced and regulated by the rate of supply and demand. Consumers in a market economy have to sometimes paid a high price for the goods and services that they require. Consumers make financial decisions in a market economy by making their choices based on self interests.
A market economy is a very competitive economy because
a. the demand of goods and services by consumers have increased therefore this results in an increase in production of goods and services.
b. The producers tend to high innovative when producing this goods and services required by the consumers.
In a market economy, businesses and firms tend to have an increased of a very high rate of efficiency when producing goods and services such that they minimise or lower the cost of production while ensuring that they make high or huge amounts of profits.
Answer:
During the recession of 2008 through 2010, Ford saw sales of its vehicles drop and was forced to reduce production. This decision reflected changes in the company's ECONOMIC environment.
Explanation:
The automotive industry crises occurred from 2008 to 2010, it was basically a part of the financial crisis that started in 2007. It also effected most of the Europe, but the results in America were far worst than any other part of the world. The main reason behind it was the rise in the fuel prices for these vehicles. As Ford didn't offer much fuel efficient models for costumers, their sales started to decline, which resulted in the reduction of production, and changed the companies economic environment.
<span>This fact indicates that a number of the injuries and illnesses taking place while working are not being reported faithfully. This might be due to a reticence on the part of the employees regarding being found out about working while sick, or it could be that businesses are worried about excess costs associated with workplace injuries.</span>
Answer:
The correct answer is letter "A": total value from trade in a market.
Explanation:
Canadian economist Alex Tabarrok (born in 1966) explains social surplus as the sum of consumer surplus, producer surplus, and bystanders surplus. Tabarrok takes an integrative approach in consumer surplus by stating <em>social surplus encompasses every economic trade in the market rather than only consumers and producers surplus.</em>
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Besides, Tabarrok believes when there are major external costs or benefits, the market will not reach its social surplus.
Answer:
b. an indicator of quality.
Explanation:
Margaret has been invited to a fancy dinner party and wants to bring a good bottle of wine as a gift for the host. Since she does not know much about wine, she will likely use the price of the wines as an indicator of quality.
Value-based pricing is a strategy of setting prices primarily <u>based on a consumer's perceived value of a product or service. </u>
<u>Price is an Indicator of Value From a consumer's standpoint because it is often used to indicate value when it is compared with perceived benefits such as the quality .</u>
