The main reason why firms <em>make changes to a product</em> or adjust prices in a market deemed the bottom of the pyramid is because:
- There is a large, impoverished population that still wants and needs consumer goods but cannot pay the prices that the fewer, wealthier consumers in developed nations can.
<h3>What is Market Price?</h3>
This refers to the current market value of a particular product which can be purchased at a particular time and this can be affected by different factors.
With this in mind, we can see that there are adjustment in prices even in markets in the bottom pyramid mainly because a poorer population needs the product but cannot pay the prices than wealthier nations.
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Answer:
<u>B) No, there was insufficient consideration because Sue did not promise anything in exchange</u>
Explanation:
Remember, in law for there to be consideration there must be something of value (between the parties concerned, which is exchanged for the performance or promise of performance by the other party (such performance itself is consideration).
Thus, it could be said that Marcy's agreement to throw a party for Sue lacked insufficient consideration since there was no stated value because Sue did not promise anything in exchange.
Answer:
correct answer A. 415
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<em>Multiples choices for the question : a. 415 b. 300. c. 290 d. 335</em>
Explanation:
The law of demand explains the relationship between the price of a product and the quantity demanded. According to the law, there is an indirect relationship between quantity demanded and price. Should the price increase or decrease, the quantity demanded moves in the opposite direction.
If Miriam reduces the price of headbands, their demand should increase. A low price results in increased demand while a high price reduces demand. From the choices available, option A is higher than the current sales of 335. The reduced price will increase demand, pushing the sales higher.
Answer:
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