Answer:
The three scenarios describe a competitive market.
Explanation:
1) In the competitive market buyers and sellers are price takers, this means that there are many producers and consumers and none of them are able to intervene in price and market. Price is given, ie price is determined by interaction in the market. 2) The products are identical. That is, no company will make a profit due to differentiated products. In perfect competition, companies produce identical products, and the consumer is indifferent to the product characteristics of each company. 3) There is free entry and exit of companies and factors of production, ie there is no cost to enter and exit any sector. This means that factors can migrate from one sector to another without incurring costs, meaning there are no barriers to entry and exit from any sector.
Thus, from items 1 and 2, consumers and buyers are price takers, that is, they cannot influence the price determined by the market. Item 3 is about achieving zero profit or normal long-term profit. This is because the free entry and exit of companies avoids extraordinary profits by encouraging companies to migrate to sectors that earn higher profits in the short term. Thus, in perfect competition, compa
The factors a company should consider when determining an industry offers good prospects for attractive profits are growth potential as per the competition appears destined to become stronger or weaker.
Explanation:
The technique for revealing the different market or competitive position that rival firms occupy in the industry are having similar market positions.
The market positions that occupy in an industry and for identifying each rival's competitors are displayed using a visual technique.
The firm will not be a competitive in its industry without understanding the industry's key success factors. Key success factors are functions of both customer needs and competitive pressures.
Answer: d
Explanation: I would say she asked about pay before she was offered the position
