The producers is practicing <u>specialization</u> when a manufacturer or a producer concentrates on one very specific product.
Answer: Option C
<u>Explanation:</u>
Specialization is when a producer produces only a particular kind of good and focuses on the production of that good. The producer of that good tries to reduce the cost of producing that good and increase in profit.
Proper efficient techniques are used and that too efficiently so that the resources used in that goods are also used judiciously and not wasted. This helps the producer of that good to become competitive in the market of that good and do better than others.
Answer:
b. diary method
Explanation:
Diary method: This is a research method that gathers qualitative information by keeping participants record entries of their everyday lives in a diary, journal, or log about the experience, or activity being studied.
It is composed of five-phase:
1. Planning and Preparation.
2. Pre-study brief.
3. Logging period.
4. Post-study interview.
5. Data Analysis.
Advantage: Events are recorded in their natural setting.
Disadvantage: The cost and time related to Participant recruitment.
Answer:
Subsidy ; Price Ceiling
Explanation:
Subsidy is the financial assistance by government, to increase a good's availability at cheaper price, to people.
Price Ceiling is the maximum mandated price by government, at which a good or service can be sold in market.
Government giving every student a voucher to redeem at any school : Is a form of financial assistance, which reduces the price paid by students. So, it is an example of Subsidy
Government mandating no tuition fee above $6000 : Is specification of maximum mandated price at which a good or service can be sold. So, it is an example of Price Ceiling.
In an economic system with monopolies and cartels that fix the price of goods, the end result for consumers is that consumers are given worse choices and pay a higher price. This is a result of the lack of competition in the market that would drive prices down and offer more choices to consumers.
<span>The articles of confederation gave the confederation congress all of the following powers except the power to impose taxes.</span>
