Managers need to pay attention to dealing with uncertain and competitive conditions. This is part of the mission and vision statements and has to do also with types of planning. The strategic planning includes long term decisions about the overall direction of the company. Conditions can change rapidly and managers must be aware of that .
Answer:
correct answer is Oligopoly
Explanation:
this is an example of Oligopoly
because of Oligopoly
it is a market structure with many small companies and no company keep others by the significant influence
so as the company is characterized by some seller and if one company will increase the price and other company also follow suit
it is an example of Oligopoly
so correct answer is Oligopoly
Answer: Efficiency refers to how much a society can produce with its resources. Equality refers to how evenly the benefits from using resources are distributed among members of society.
Explanation: Efficiency can be explained as how best a society can harness and maximize the use of its resources in developing itself in areas of infrastructure, improved standard of living of members of the society, provision of basic amenities to its members of society.
Equality ensures there is a large spread to the members of the society benefiting from the resources gotten in the society. Equality ensures everyone takes part of the benefits of the resources present.
Answer:
its cost is least in terms of alternative goods that might otherwise be produced
Explanation:
Comparative Advantage
This is simply explained as when an individual has an opportunity cost of performing a task is lower than the other individuals opportunity cost that is it is more efficient. It is the usual fundamental basis for international trade. Its principle includes production at a maximum peak to be achieved if each individual focus on the job or activities for which his or her opportunity cost is lowest.
Opportunity Cost
This is simply known as the highest valued of an alternative that must be given up so as to be involved or engage in an activity/job or task. There are several sources of a comparative advantage. They includes;
1. Climate and natural resources
2. Relative abundance of labor and capital
3. Technology
4. External economies etc.
