Answer:
A
Explanation:
The strategy of US textile firms should be to capitalise the gaps of the offshore textile companies. One of the gaps of the offshore textile companies is long delivery time. Thus, US companies should focus on producing smaller quantities at a much faster delivery time.
The offshore firms already mass produce at a lower cost. thus, the US firms should not focus on these
If the institution prices classes at the price required to achieve equilibrium at 10 a.m., there will be a surplus at 8 a.m.
<h3>What is the demand?</h3>
The demand is defined as the quantity of commodity that a customer of a product wants it at each possible prices during a given period of time. This relation of demand with the price is an inverse relation.
In this scenario, the demand for seats at 10 a.m. classes at the College of the Canyons is greater than the demand for seats at 8 a.m. classes.
There will be a surplus at 8 a.m. if the college prices classes at the price required to attain equilibrium at 10 a.m.
Therefore, demand is opposite to the supply.
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The correct answer is Option D.
The longer the time period under consideration, the more elastic the supply of a good will be.
<h3>What is supply of goods ?</h3>
- The following are included in a supply of goods: the agreement-based transfer of property rights over things. the commission-based sale of tangible things because of an auctioneer or dealer acting under his and her own name but following another person's instructions. delivery of items under a hire-purchase agreement.
- In general, supply refers to the complete amount of goods and services that such a producer is ready to provide at a specific price and location.
- Even as a profession, selling products or services counts as a supply under the GST. Therefore, the sale would represent supply even if a well-known politician created paintings for charities and sold them, even once.
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Production and Distribution. Economics is concerned with how to produce goods and services using limited resources, and most efficiently distribute these products to maximize the benefit of everyone.
An argument that is not against specializing in a single good in the real world is that specialization in a single good makes dumping easier and more effective.
If a country specializes in a single good, less waste will be produced and it can be dumped easily at one place and can be used or recycled more easily than to dump several different kinds of goods as they will need different technologies and to segregate them will be a hard job to do.
Countries improve their production of the commodity in which they specialize. There are many benefits to consumers if a country does so as specialization lowers the opportunity cost of production, increasing global production and lowering prices. These reduced pricing and increased supply benefit consumers.
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