Answer:
A) A firm in an oligopolistic market has to consider its own impact on price when making production decisions
Explanation:
A perfectly competitive market is a market with many firms selling identical product. There are free entry and free exist and the decision of a firm does not affect the price in the market as all firms are price takers. Therefore, each firm is independent under perfectly competitive market and production decisions of a firm in a perfectly competitive market does not affect the price in the market nor will it cause any reaction from other firms.
However, Oligopolistic market is a market where there are few firms which are 3 or more firms but not more than 20 firms selling identical or differentiated product.. Firms in oligopolistic market are interdependent which implies that the decision of one firm can affect price and this can cause reaction from other firms and then lead to a price war. A price war occurs when each firm continually reduces its own price in order to increase its market share which causes other firms to react reducing their own prices and this will make none of the firms to gain in the end. In order to avoid the price war, each firm in an oligopolistic market has to consider its own impact on price when making production decisions.
Answer: a car
Explanation:
While making purchase decisions, the product that is most likely to elicit the greatest reference group influence will be a car.
This because when an individual has a car, other people see the person and use that as a reference group. It should also be noted that a good thatbis considered public good has a strong influence group.
Answer: Functional
Explanation: The functional structure of an organisational chart places people with similar skills who perform similar activities in a group under a common manager who answers to an executive a level up in the hierarchy who may oversee multiple departments. Therefore, an organizational chart of a company showing vice presidents with responsibility for key areas such as design, manufacturing, sales, marketing, and after-sales support would reflect a functional structure.
An advantage of the functional structure is that employees are allowed to focus their collective energies on executing their roles as a department but sometimes they might develop tunnel vision (seeing the company solely through the lens of the employee’s job function) and often at times there is a lack of inter-departmental communication.
Answer:
1. Qatar
2. Macao SAR
3. Luxembourg
Explanation:
The 3 wealthiest countries in the world according to GDP (PPP) is Qatar - $134,623, Macao SAR - $122,201 and Luxembourg - $108,813
The answer is A. Thinking and sensing
The thinking type will rely on their analysis capabilities to process information, and make their decision based on their analysis projection
Meanwhile, the sensing type will rely on their 5 senses to process information, which mean they have to experience it first before they can make their decision
