Answer:
decline in production differentiation and ,less competition
Explanation:
One would expect a gradual decline in product differentiation. This is because the few firms left in operation do not have to seek innovative ideas to capture the market, since they are few and the chances that a new rival will emerge are minute owing to the legal barrier. There is the development of an oligopolistic competition on product quality since the number of producers left is low and there Is the barrier of new entrants, both of which are key characteristics of an oligopolistic competition.
The Industrial Revolution is well known in history. During the Industrial Revolution in the 18th and 19th century, managers who could make minor improvements in management tactics were noteworthy because;
- They produced goods and services due to high increases in production quantity and quality.
<h3>What is the role of management in the Industrial Revolution?</h3>
The Industrial Revolution is known to result in the advent of better and faster technology that helps firms to carry out task more efficiently.
It also help management to greatly increase their output.so as to meet demand of the people and increased production.
Learn more about Industrial Revolution from
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Answer:
Competitive Forces
Explanation:
Competitive Forces are factors and variables that threaten a company's profitability and prevent it dominance on setting high prices and monopoly. The number and power of a company's competitive rivals and substitute products influences how the company makes profits.
Competitive Forces can be grouped into two which are;
Direct Forces: This determines how low the floor can go for a price competition
Indirect Forces: This places a cap on market's prices and profits
Coors Brewery attempting to sell its beer in Ireland competing against Guiness Beer... Or attempting to sell its beer in Australia competing against Fosters beer is an example of Competitive Forces because by attempting to sell its beer in either of Ireland or Australia to compete with Guiness Beer or Fosters Beer, there will be competition in the Industry, thus, the larger the number of equivalent product and services offered, the lesser the power of a company.
Suppliers and Buyers alike seeks for a company's competition and see if they are able to offer better deals and lower prices.
If Coors Brewery is able to offer better deals or lower prices In Ireland or Australia as against Guiness or Fosters Beer, there will be competitive rivalry as they will become a direct force competition that will determine how low the price of beer will go in the two countries respectively
Answer:
If the aggregate supply—also referred to as the short-run aggregate supply or SRAS—curve shifts to the right, then a greater quantity of real GDP is produced at every price level. If the aggregate supply curve shifts to the left, then a lower quantity of real GDP is produced at every price level.
Explanation:
A shift in aggregate supply can be attributed to many variables, including changes in the size and quality of labor, technological innovations, an increase in wages, an increase in production costs, changes in producer taxes, and subsidies and changes in inflation.
In summary, aggregate supply in the short run (SRAS) is best defined as the total production of goods and services available in an economy at different price levels while some resources to produce are fixed... As prices increase, quantity supplied increases along the curve.
