Answer: localization
Explanation: In simple words, localization refers to the prices in which a commodity is made in such a way that it matches with the taste and preference of local consumers that are actually targeted by the company.
Localization helps a firm to sell its product by making individuals feel connected to the product on cultural basis. Localization instantly makes the customer feel that the offered product can be used in his or her daily life.
Food chains like McDonald and subway providing extra spicy products in their menus in amaretto of India is a prime example of localization.
Answer:
Quantity demanded is the amount of a good that buyers are willing and able to purchase at a particular price. Many things determine demand, but only price can determine the quantity demanded of a specific good. If you have the money and are willing to buy 2 ice cream cones a week, at $2 per cone, the quantity demanded would be 2 cones a week. Now, what happens if the price increases to $4 a cone? If you are like most people, the quantity of ice cream cones you demand will decrease as the price rises. In this case, assume your quantity demanded is now only 1 cone a week, which is what you are willing and able to buy. Notice that as the price of the cones increases, the quantity of ice cream cones demanded decreases. This means quantity demanded is negatively related to price-which means they have an inverse relationship. Economists refer to this relationship as the law of demand. The law of demand states that, other things being equal, when the price of a good rises, the quantity demanded of that good falls. The reverse is also true-when the price of a good falls, the quantity demanded of that good rises. The combination of the quantities people are willing and able to buy of a good or service at various prices constitutes a demand schedule. When the demand schedule is graphed, the demand curve is downward sloping.
Society can attain a higher degree of specialization without the use of money than it can with money. The given statement is false.
In order to become more effective, specialization in business is concentrating on a single product or a small range of items. Specialization can boost productivity and give a company or economy a competitive advantage.
A speedier, more efficient workflow is the outcome of each person being able to give their particular task the degree of focus they are capable of. Through specialization, a worker can leverage their education and work history to speed up procedures and boost sales.
One nation might, for instance, be a specialist in growing coffee beans, giving it a competitive edge. Additionally, it can enable this nation to use its current resources to create a sizable quantity of high-quality coffee beans.
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Answer:
C. $17,500
Explanation:
1,300 / 200 = 6.5
we are going to hire between 6 and 7 welder as we are given the requirement <u>"for every 200 hours or fewer in a month"</u> we should round above and not below: 7 welder. Besides, we cannot hire "half" or "quarter" of an employee therefore we have to move between integer solutions.
False.
If the price of a product goes up by 10% and the quantity demanded goes up by 20% the product is a GIFFEN GOOD.
An inferior good is a good that decreases in demand if income increases. These are the goods that people opt not to buy when their purchasing power increases.
