Answer:
Mass customization
Explanation:
Mass customization is a business approach that focuses on providing customized goods and services to customers. It is a strategy that requires flexibility, integration, and personalization to make customized products that suit each customer's needs.
The biggest challenge with mass customization is the cost element. A business needs to have sufficient customer orders to deliver quality customized products at a competitive price.
Mass customization is the availing of tailor-made products, unique and to each customer's liking. By allowing each customer to set their preferences, Sunnyside Travel is involved in mass customization.
Answer:
D. a competition.
Explanation:
A contest for an honor or an award is called a competition. The competition most times appears to be a thing not multiple people can attain at a time.
Answer:
Comparative Advantage
Explanation:
The assumption of Comparative Advantage theory is that there is no barrier.
It is explained in the model that if each country focuses on what it does best relatively then both countries together can produce more of each good/service using all their labor.
Then they can trade with each other and benefit. (To trade they must produce what the other need)
Answer:
<h2>The correct answer in this case is option C. or MU(c)/P(c)>MU(d)/P(d).</h2>
Explanation:
Under consumer equilibrium theory for two commodity model,a rational consumer maximizes his or her utility when the marginal utility(MU) obtained from consuming one good is equal to the same of the other.This is the fundamental essence of the Law of Equimarginal Utility in Economics.Now,in this case,the consumer will purchase more of good C than good D if the Marginal utility obtained from one unit of good C or MU(c) for the money spend on consumption of good C or price of C,P(c) is greater than the marginal utility obtained from consuming 1 more unit of good D or MU(d) for money spend on purchase of good D or price of that particular unit of D or P(d).Therefore,since the marginal satisfaction compared to the amount of money spend for the consumer is higher for good C compared to the other or good D,it will increase the total utility level of the consumer from that particular consumption bundle or pattern.Hence,he or she will spend more on the consumption of good C than good D.
