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2 years ago

What is the name given to the development of a new good?

Business

1 answer:

Rama09 [41]2 years ago

4 0

An invention is the name given to the development of a new good.

<h3>What an invention?</h3>

Invention refers to the process of creating something that has never been made. It is a unique or novel device, method, composition or process.

An invention uses technology to solve a specific problem hence the name given to the development of a new good.

Examples of invention includes:

Manufacturing of Telephone.
Manufacturing of printing press.

Therefore, the name given to the development of a new good is called invention.

Learn more about invention here : brainly.com/question/23538626

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Differentiation business strategies are often associated with premium prices. There are, however, reasons why a firm would NOT w

Natalija [7]

Answer: e. To drive up market share

Explanation:

Differentiation strategies involve adding features to a good to make it stand out from the Competition. Since these features are usually beneficial, the value of the good goes up and the company selling them can charge more. This is the main way things are done in Monopolistic markets.

However, sometimes it is best to charge the same price the Competition is charging even though you have a better product. This way the company is able to capture Market Share because the consumers will believe they are getting a better value for their money. For instance, if a company was selling Toyotas at $2,000 and it's competitor was selling the same Toyota but with 2 extra tires for the same $2,000 who would you use? The Competitor most likely.

This is why a firm might want to keep prices in line with competitors.

4 0

3 years ago

7. Which of the following characteristics should exist to

algol13

I think the answer is C but i could be wrong

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3 years ago

In this scenario, Frankie must consider whether making one choice will force him to give up another.

aksik [14]

Based on the scenario above, the economic concept which Frakie is faced with is OPPORTUNITY COST. Opportunity cost refers to a benefit or value that a person could have received but which he gave up in order to take another course of action. Thus, an opportunity cost represents an alternative given up when a decision is made.

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3 years ago

Read 2 more answers

I am having trouble with this question. Can you help me out?

Semmy [17]

Answer:

ok I can help but will is the question.◉‿◉

6 0

3 years ago

Carol Byrd gets a student rate of $30.00 a month for health insurance. There is a $250 deductible. She recently received treatme

e-lub [12.9K]

The company's payment = $1640,

Carol's total cost = $410.

<u>Given:</u>

Bill amount = $2300

Amount of deductible = $250

Remaining amount is given by:

=$2300-$250

=$2050

Since Carol's insurance company provided paid 80% of the bill less the deductible.

So, the Company's Payment is given by:

Company Pays 80% which translates to 0.8

Company Payment = 0.8*2050

Company Payment = $1640

Carol's total cost after the payment of company is given by

Carol pays = $2050 - $1640

Carol pays = $410

Hence, the company's payment was $1640, Carol's total cost was $410.

Learn more about Insurance on:

brainly.com/question/25855858

#SPJ4

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2 years ago