Firms are known to be free to set price and also to face strong competitive pressure. Competitive price-searcher markets may still be consistent with economic efficiency because they provide consumers with a greater diversity of products.
- Firms in competitive price-searcher markets that has a small entry obstacles often face a downward sloping demand curve. Competition often exists from existing firms and new rivals.
Firms that exist in a perfectly competitive market are known to be price takers due to the fact that once the market determines an equilibrium price for the product, firms need to accept the stated price.
For an individual to sell a product in a perfectly competitive market, one must just be happy with the price.
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Answer:
The name for choosing one alternative from among several options is decision making.
Explanation:
Decision-making is the selection of best outcome among alternative courses of action. It involves the definition of problem, the identification of various alternatives, the identification of various outcomes, the evaluation of various outcomes based on pay-off and the selection of best outcome among alternative courses of action.
Answer:
Federal Funds Rate:
d. rises when the quantity of funds demanded by banks seeking additional reserves exceeds the quantity supplied by banks with excess reserves.
Explanation:
Federal funds rate is the target interest rate set by the FOMC (Federal Open Market Committee) at which commercial banks with deficit reserves borrow and banks with surplus reserves lend their excess reserves to each other overnight without collateral. The rates are set eight times a year in line with prevailing economic situations. The rates are lowered to boost economic growth and reduce unemployment by increasing money supply. They are increased to check inflation.
Answer:
The correct answer is: multi-level marketing.
Explanation:
Multi-level marketing (MLM) is appealing for workers because there is tremendous potential to make money and low entry costs. It is a business strategy in which salespeople recruit other individuals to sell products or services for them in order to earn a portion of their sales in addition to their own sales.
Answer: Please refer to Explanation.
Explanation:
1. Honesty.
State the purpose of your call to the secretary and sell your product. For instance, " Hello, my name is Mr. Petal and I represent a fast rising Paper and Metal Container company. After researching about your company, I felt it most expedient to get in touch with Mr. Firestone as I believe this is business he will be interested in. We offer perks that are unmatched in the industry".
2. Persistence.
You can be persistent on the phone if you detect deceit in the secretary's tone.
For instance,
" Having been in the chemical industry myself, I know such an opportunity does not come often and I really do guarantee that we give the best benefits in the industry. If you can, just let me talk to Mr. Firestone, I promise that neither of you will regret it".
If it still doesn't work, ask for a convenient time you can call back.
