Answer:
small; standardized; little or no
Explanation:
A perfect competition is when there are many firms in an industry selling standardised or identical goods and services. It is characterised by many buyers and sellers . Sellers have small market share because of the large number of sellers in the market. Prices are usually set by market forces. Sellers cannot influence the price their products sell for , therefore, they are price takers.
There is little or no need for advertising as all firms sell identical goods.
I hope my answer helps you.
Answer:
Option (B) is correct.
Explanation:
Sales forecast = 2079 units
Ending Inventory to be maintained:
= 10% of forecast sales
= 10% (2079 units)
= 208 units
Production:
= Sales + Ending Inventory - Beginning Inventory
= 2079 units + 208 units - Nil
= 2,287 units
Taking current inventory into account, Dell's Production of 2,287 units After Adjustment have to be in order to have a 10% reserve of units available for sale.
Answer:
A certain production possibilities frontier shows production possibilities for two goods, jewelry and clothing. The following concepts can not be illustrated by this concept:
- the flow of dollars between sellers of jewelry and clothing and buyers of jewelry and clothing.
Explanation:
- A Production Possibilities Frontier also known as the Production Possibility Curve or Transformation Curve. This curve illustrates a country or a business is utilizing its resources effectively by showing the point at which that country or business is producing its products efficiently.
- This curve is unable to tell you the flow of dollars between the seller and buyers of goods of a business or a country.
- It only tells us about the production of goods not the flow of cash.
