<span>While the role of the state in a command economy is to be Dominant, in a market economy the state's role is to be Passive
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Answer:
A market analysis is a quantitative and qualitative assessment of a market. It looks into the size of the market both in volume and in value, the various customer segments and buying patterns, the competition, and the economic environment in terms of barriers to entry and regulation.
Explanation:
Answer:
At one time, the centrally planned economy of China encouraged farmers to produce iron in their backyards, rather than have factories make iron. This proved unsuccessful, since most of the farmers' iron was of poor quality. Why do you think this approach was unsuccessful? How could this experiment become a success in a free market economy?
The reason why the approach whereby farmers make iron in their backyard could not work out is as a result of not being inclined in that market as they are only skilled in agriculture, also they do not understand the rhetorics of the business.
The experiment would be a success in a free market as anyone is allowed to sell such product, this gives room for competition and helps to price reduction which is good for the consumers, also it would help in improvement of such product's quality because of competition involved
Explanation:
Answer:
$10,080
Explanation:
The computation of the cost of the job is shown below:
We know that
prime cost = direct material + Direct labor
= $2,000 + $5,200
= $,7200
Now overhead is
= 40% of $7200
= $2,880
And,
Cost of job = direct material + Direct labor + overhead
= $2,000 + $5,200 + $2,880
= $10,080
Answer: Step Four - Construct Segments Profile
Explanation:
When practical market segments have been resolved, segment profiles are then created. Segment profiles are point by point depictions of the purchasers in the segments – portraying their needs, behaviors, preferences for the goods, socio economics, shopping styles, etc. This is much similarly that the age accomplices of Baby Boomers, Generation X and Generation Y have a name.
