Answer:
B
Explanation:
absolute adv. -- able to produce more at lower costs with same amount of resources
lower costs ....labour costs low
Answer:
utilitarian
Explanation:
Utilitarian ethics or utilitarianism is a type of moral ethic code that judges actions only based on the final results. In this case, only the outcome matters, the road used to get there doesn't.
Personally, I do not share this philosophy because a person who needs a transplant could just get out and kill someone else just to get some organ. The final outcome is that they live, which is great for them, but they did something bad to reach that outcome.
Answer:
Heterogeneous-shopping products(Shopping product)
Explanation:
Products can simply be said to be services, events, places, ideas, person e.t.c.
There are four types of consumer product classes namely:convenience, shopping, speciality and unsought.
Shopping products are homogeneous and heterogeneous in nature.
Homogeneous shopping products usually need enough exposure to facilitate price comparison; they differs in style, comparison, quality and price sensitivity is high e.g housing.
Answer:
- Self-Interests exist in both customers and the companies who sells the product.
Self-interest held by the companies will determine how much profit that they desire to acquire. Some owner wanted a high profit margin, some wanted lower , etc. Self-interest held by customers will determine the type of value that the consumers expect from the product and how much money they're willing to pay to obtain it.
Both of this will create a push and pull in the market. Eventually, the price will fall to the spot where both sellers and consumers believe as 'fair.'
- Competition is an additional factor to regulate prices that tends to be beneficial for the customers.
The existence of competition make consumers have more than one option in order to obtain a similar product. This <u>make companies have to reduce their self-interest and offer prices that can compete with the competitors.</u>
This tend to bring the prices lower from the initial equilibrium.