Answer:
This situation is an example of cross Price elasticity of Demand
Explanation:
If change in Price in Rental Company A doesn't necessitate change in prices in Rental companies B.C.D.E & F
Then the products A has on offer are not close substitutes to the rival companies
However where Rental company G lowers his price and it immediately triggers a Price reduction in Companies B to F, then obviously they offer similar products that are close substitutes and serve similar segment or channel of the Market Size. Thus failure to lower their Price will automatically see Customers rent cars more from Company G.
This situation is an example of cross Price elasticity of Demand
The answer is D, opportunity costs.
Answer:
E) cross-fertilization of diverse cultures
Explanation:
Cross-fertilization of diverse cultures refers to several cultures mixing together and the result of that mix is that the best qualities or characteristics of each culture are absorbed by the other cultures.
This is a similar concept to the melting pot theory in the US, where diverse immigrants interacted together and they were able to get the best out of each other's culture.
Answer:
Economic forces.
Explanation:
External trends and events significantly affect all products, services, markets and organization in the world.
External forces can be divided into five broad categories.
-Economic forces.
-Social, cultural, demographic and environmental forces.
-Political, governmental, and legal forces.
-Technological forces.
-Competitive forces.
The economic forces have a direct impact on the potencial attractiveness of various strategies. For example, if interest rates rice, the found needed for capital expansion become more costly or unavailable.
