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3 years ago

Match the word with the best definition.

Business

1 answer:

Bas_tet [7]3 years ago

6 0

Answer:

1. Income determines who will get what is produced

2. Consumers decide what to produce by what they are willing to buy

3. Demand determines how much will be produced

4. Businessmen decide how to produce goods to make a profit

5. Producers the human resources that make the products or perform the services

Explanation:

1. Income determines who will get what is produced

The level of disposable income in a target market determines the quality and quantity of products that will channeled to that market.

2. Consumers decide what to produce by what they are willing to buy.

It is consumers that dictates the tune in market because they are the ones paying for the goods, they have the decision-making power on what they will buy which in turn determines what firms will roduce.

3. Demand determines how much will be produced. Demand is a measure of what consumers are willing buy and in what quantity. The size of demand determines the size of the market that firms are going to supply with their products.

4. Businessmen decide how to produce goods to make a profit.

Firms use the generic strategy of cost reduction (cost leadership) or quality improvement (Product differentiation) as strategic options to decide wihich alternative will yeild more revenue.

5. Producers the human resources that make the products or perform the services.

Producers are the people at the factory floor or service centers manufacturing the good or rendering the service.

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Answer: Trade between the two countries is beneficial when United States trade food to Canada and Canada would trade televisions to the United States.

Explanation: In international trade, each country will produce a good in which it has a comparative advantage (lower opportunity cost).

Opportunity cost of food is,

Unites states = $\frac{100}{150} = 0.66$

Canada = $\frac{300}{330} = 0.90$

Opportunity cost of television is,

Unites states = $\frac{150}{100} = 1.5$

Canada = $\frac{330}{300} = 1.1$

Since, opportunity cost of food is lower in the United states, United states will export food.

Opportunity cost of television is lower in Canada, Canada will export television to the United States.

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3 years ago

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Answer: Option B

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This study analyzes the factors that directly affects the organisation. The channel of distribution of the competitor can be used to understand their strategy for making their market. An organisation could use this information by improving their channel and gaining a competitive advantage.

Hence from the above we can conclude that the correct option is B

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When a company strives to achieve lower overall costs than rivals and appeals to a broad spectrum of customers, it pursues Multi

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Answer:

an overall low-cost provider strategy.

Explanation:

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This ultimately implies that, a competitive advantage has a significant impact on a business because it increases its level of sales, revenue generation and profit margin when compared to rival firms in the same industry.

A overall low-cost provider strategy is a strategic business model that's typically focused on a broad customer base (segment) while still making profit by providing low-cost goods and services to the customers, as well as underpricing rivals in the same industry.

This ultimately implies that, it is a business strategy that involves lowering the price of goods and services in order to stimulate demand, generate more revenue, draw more customers and gain a competitive advantage over competitors or rivals in the same industry.

Hence, when a company strives to achieve lower overall costs than its rivals in the same industry and appeals to a broad spectrum of customers, it is considered to pursue an overall low-cost provider strategy.

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Answer:

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4 years ago

Dividing a diverse market into groups of customers who share similar traits or characteristics is the process known as:

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Answer:

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