Answer:
The correct answer is a. buyers will go elsewhere.
Explanation:
This situation occurs when there is competition, that is, other businesses that offer the same or similar products as those of a particular company. In this scenario, the potential buyer will notice the difference according to their previous experiences and will find a way to acquire products from another brand that offer the same satisfaction as the product that rose in price. You must be very cautious with this practice, since it can end up damaging the operation, and in the worst case, leading to bankruptcy.
Answer:
The correct answer is "opportunity recognition "
Explanation:
The opportunity recognition refers to when a person, usually an Entrepreneur or manager, find occasions that could be profitable to their business or to is an opportunity to approach new business ventures or ideas. The entrepreneur analyzes technological, economic and social trends.
The answer to this question is Business Ethics.
<span>Business Ethics is also known as corporate ethics is where a
company studies and examines the ethical problems that the business is
encountering. In business ethics, it also shows the companies set of rules,
values, and company standards on how to deal with clients. </span><span> </span><span> </span>
Answer:
What is the opportunity cost of something?
- What must be given up to acquire it
Opportunity cost is the extra costs or benefits lost from choosing one activity or investment over another alternative.
Your aunt's opportunity cost of running a hardware store for a year is.
- $55,000 in lost wages and the cost of capital invested (which is not given).
Suppose your aunt thought she could sell $680,000 worth of merchandise in a year.
- She should open the store because the economic profit = $680,000 (total revenue) - $600,000 (accounting costs) - $55,000 (opportunity costs) = $25,000
Economic profit = accounting profit (total revenues - total expenses) - opportunity costs