Which best describes how specialized producers decrease their opportunity costs?

Globalization has been driven by five major factors: political, technological, market, cost, and competitive. Business has fuele

maria [59]

Answer:

Competitive Drivers 

Description

Explosive growth in international business

Implication for Business

Intense competition in world markets

Globalization has led to an explosive growth in international.business which has led to increased competition amongst companies because they now have to compete on a global scale against numerous companies in various locales.

Political Drivers 

Description

Preferential trading arrangements and privatization of industries

Implications for Business

Increased opportunities for trade and investment

Some Countries offer great trading agreements this enabling companies to trade in other countries. This opportunity means that there are increased opportunities for trade by companies in the countries involved in the agreement.

Cost Drivers

Description

Exporting or producing Overseas

Implications for Business

Lower Cost of Goods sold

Globalization has enabled companies to be able to produce in cheaper markets for labor such as in Asia and Africa. This has led to a lower cost of goods sold and therefore higher profits.

Technological Drivers 

Description

Explosive growth of high-power, low-cost computing

Implications for Business

Growth in Services.

Driving Globalization is an increased use of technology by human beings. The world is now connected by mere seconds which has enabled companies to derived clients all over the world this enabling them to offer more services.

Market Drivers

Description

Emergence of Global Customers

Implications for Business

New Opportunities and New Markets.

Another factor driving Globalization is the availability of new markets to sell their goods in in different territories. Companies can therefore have an increased demand base which will mean more Profitability.

5 0

3 years ago

hi im smartswimmer101 aka jaja1213 aka ok no more "akas" i have had a lot of accounts but anyway how is school going for all of

nadya68 [22]

Answer:

Thank you for sharing your thoughts on the homework assignments application

8 0

3 years ago

Structure is important because it helps our minds begin to develop expectations about what will happen next in a piece of music.

KatRina [158]

The term structure in music describes the layout of a composition as divided into sections. It describes the way the music piece is built up.
The statement that structure is important because it helps our minds begin to develop expectations about what will happen next in a piece of music is true.

8 0

3 years ago

X-treme Vitamin Company is considering two investments, both of which cost $22,000. The cash flows are as follows: Year Project

olga2289 [7]

Answer:

0.88 year and 1 year

Explanation:

The computation of the payback period for Payback period for Project A and Project B is shown below:

Payback period = Initial investment ÷ Net cash flow

For Project A

Initial investment = $22,000

Year 1 = $25,000

Since the initial investment is less than the annual cash flows so the payback period is

= 0 years + ($22,000 ÷ $25,000)

= 0.88 years

For Project B

Initial investment = $22,000

Year 1 = $22,000

So, the payback period is

= $22,000 ÷ $22,000

= 1 year

4 0

4 years ago

Other things equal, demand tends to be more __________ the more substitutes there are available, and more _________ when the hig

melamori03 [73]

Answer:

Elastic/ Inelastic

Explanation:

Price elasticity of demand is a tool use to measure in economics to show the elasticity, or responsiveness, of the demanded quantity of goods or services to increase in its price. When the price of a good or service changes, inelastic demand is when the buyer's demand does not change when the price of the good or service changes.

6 0

3 years ago

Read 2 more answers

Which best describes how specialized producers decrease their opportunity costs?​

Which best describes how specialized producers decrease their opportunity costs?