I thinkI think the correct answer is to learn<span> as much as possible about customers.
Being good in the business needs to know more about the market of the product. Creating products and services that would satisfy the customers can make the business successful in its endeavors.
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Answer:
An app on their phone if I had a guess. Or, they didn't use a smart device and they did those things.
Answer:
The United States can specialise in producing goods and services which capitalise on its competitive advantages.
Explanation:
Increased global trade opens the United States (U.S) to international markets. This allows businesses in the U.S to scale their operations so as to meet world demand. In doing so, these businesses may experience lower costs per unit due to increasing production capacity. This growth in operations could lead to increased competition from foreign businesses seeking to enter or operating in the U.S economy. Owing to this, higher levels of innovation and efficiency at firm level would be instituted so as to offer competitive prices.
Answer:
The answer is explained below
Explanation:
To begin with, the policies that the goverments decide to implement in their countries tend to influece in a huge way the companies decisions and therefore its actions as well. Therefore that as a company manager of an international business he needs to stay very updated about the government policies over the countries where his company works. Moreover, the manager will understand that if there is free trade in a country then there will be no problems for his company to start selling there and obtaining the maximum profits as possible and if there is protectionism then the company will have to deal with the policies that the government implemented there. And that is why that as an international business manager he should really care about the policies of the country's government and if there is free trade of protectionism.
Explanation:
To understand the basic philosophy behind the four factors of production
Land - Labor - Capital - Entrepreneurship
Lets consider an example:
Someday, just finishing your college, you think of starting a pizza business and you start selling pizza's one day. You might end up making a Pizza brand like Pizza Hut.
Here, in this example, to start your pizza shop, you need a place or area, this is known as Land factor. When you start making pizza, you need someone to work in that shop, (or if you doing it by yourself too) there should be at least some human being doing it, this factor is referred as Labor. To start the pizza shop, you need to buy the equipment, taking a shop on rent, or buying it, renovation of the shop etc. All of these things need, of course, Money, which is referred as Capital here. The idea you going to start this business, the courage to make it, definitely makes you an Entrepreneur, in utilizing all other factors effectively and efficiently. Therefore, this is linkage between these four factors of production, and how they fit together.
