In markets where competition is very intense, companies are not able to keep on competing in prices forever, as at some point their cost structures prevents sucessive price lowerings. Therefore, companies are forced to use alternative strategies to defeat their competitors and to attract larger shares of consumers to demand their products.
<u>Companies need to become more efficient in production and to introduce innovations</u>. An example of an efficiency increase is to produce at the same cost, maintaining the same market price but delivering a higher-quality product, that includes, for instance, a better packaging. This new feature has been achieved through the implementation of a new tecnique in the production process (ex: new materials for the packaging) together with an innovative and sucessful marketing campaign.
<em>African slavery was introduced to the Americans early on because of the needs of the country for laborers (for their farms). During these times, countries like France and Great Britain are in the country running different plantations. Americans are fighting them off, and some who they got caught in the warring times and some Africans whom they kidnapped from their homes were pushed to work for them in exchange for foods and accommodations. African slavery started in the 17th centuries and ended in 1863 when Abraham Lincoln made a proclamation of freeing all slaves in United States.</em>
C. Means-tested welfare programs help people navigate difficult circumstances.
