In the product markets of the circular flow model, households provide <u>Consumption Spending (or Revenues) </u>to the business sector in exchange for goods and services.
Consumer spending is the total amount of the money spent by people and families in an economy on finished goods and services for their own use and enjoyment. All private purchases of durable, nondurable, and service products are included in modern measurements of consumer spending.
To help estimate and plan investment and policy decisions, investors, corporations, and regulators regularly monitor published statistics and reports on consumer spending.
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Answer:
Design competition
Explanation:
Competition is said to occur when there is rivalry between business organisations that offers the same product and services. This results in struggle for profit, market share growth as well as revenue achievement.
Design competition is employed by the organization who wants to have a cutting edge advantage over rival companies that produces the same product. This dine by changing production line, technology, product size and quality e.t.c.
However, various barriers hinders Design competition. For instance, large investment in old technology will make decisions to take up new technology a hard one to take.
Full question:
Kelly Addison is a designer clothing buyer for a chain of department stores. She has gone through several negotiation certification programs and is considered an expert negotiator by her peers.
-When Kelly sees value in a product but does not want to pay the offered price, she often offers to split the difference between what she wants to pay and what the seller wants. Which of the following would be most likely to stall the negotiations with Kelly?
A)accepting the offer to split the difference
B)making another pricing counteroffer
C)offering better delivery and payment terms if she matches the asked price
D)standing firm on price but offering a discount for the second order
Answer:
<u>B) making another pricing counteroffer</u>
<u>Explanation:</u>
We are told that Kelly Addison is an expert negotiator and has received several negotiation certification programs. She also has a policy in which whenever she sees value in a product but does not want to pay the offered price, she splits the difference between what she wants to pay and what the seller wants.
Thus, making another pricing counteroffer <u>may stall the negotiations with Kelly.</u>
5) your own Business
The benefits of starting a business include being your own <u>boss</u>. You will have more <u>freedom</u> and <u>independence</u> as a self-employed individual than as an employee, and you will not have to adhere to a typical 9 to 5 schedule from Monday through Friday. Having your own business means you can work when it is convenient for you—whether that be at 12 p.m. or 12 a.m.
You will be able to be more productive as a result. You can also work as a digital rambler wherever you want, so if you enjoy traveling, you could spend time living the digital rambler lifestyle if you are interested.
Conducting business on a global scale is a part of GLOBALIZATION.
Globalization is a process of interaction of individuals, companies, and government all over the globe for the purpose of conducting business relations with the help of information technology.
