In a competitive market, a furniture company decides to use cheaper materials to decrease production costs and pass on the savin
gs. This is an example of following a federal regulation. lowering prices for customers. reducing the risk for consumers. creating a new or better product.
<u>In a competitive market, it is common for companies to try and offer a cheaper product. In most situations, being cheaper means the product has more chances of attracting customers when compared to expensive ones. A way to make a cheaper product is by decreasing production costs using cheaper materials, as is mentioned in the question.</u> Of course, the product will have its price lowered, but its quality may also decrease with the use of a cheaper material. Anyway, the situation described is an example of lowering prices for customers.
An ecosystem consists of all the organisms and the physical environment with which they interact. These biotic and abiotic components are linked together through nutrient cycles and energy flows
Confirmation bias is a type of cognitive dissonance that favors information that confirms your preconceived beliefs or prejudices . In other words this error enables the person to stop collecting information when the evidence collected so far confirms one's views or biases. It is based on the notion that perceive information subjectively.
Well, both of them have a head of government, both run off of constitutions, and often constitutional monarchies have elected officials similar to a republic.
