The fishing business goes off of supply and demand... and so does the super market they both sell the products based on the need of the people.
The importance of pricing in business is one of the most important features that decides the profitability of the business. Following are the suitable reasons for it :
1) Effects on the profit margins - The pricing of the product determines how much the company will make per unit of the product sold. If the pricing is apt, then the items sold will eventually increase and profitability will rise.
2) Competition - Competition in the market depends ultimately on the pricing and quality of the product. The right pricing of the product (low from your competitors) gives you a competitive advantage over other similar competitors.
Thus, setting the right price is very critical in a business. (for example how setting prices to 99$ and 100$ makes the difference).
An example of a well-priced product/company is Mcdonald's, it uses the low-cost strategy to maximize its profit and market share. It follows the right pricing of its products, which gives McDonald's an edge over its customers and capitalizes on the e-market.
Learn more about implementing at
brainly.com/question/25605883
#SPJ4
The answer is d the entire trail is 512 and he already walked 358 so 512-358
Answer:
1. d. All of the above are true.
2. c. GDP refers to production within the nation while GNP refers to production by domestic factors no matter where they are located.
Explanation:
1. The ratio of country's exports to GDP is known as trade-to-GDP ratio or the index of openness. This ratio main objective is to measures the importance of international trade in an economy and its usually remain high for developing countries.
2. The only difference between GDP and GNP is that of net factor income from abroad. While GDP only takes into account production of goods and services within the country's borders; GNP takes into account production of all economy owned identities, no matter where they are located.
Step one investigate / question to figure out the problem. Step two once you figure out the problem brainstorm solutions \ enforce. Step three apply the solution in your work facility.
