QUESTION 12 What type of products are made using the principle of allocative efficiency? a. Those that are large in size. b. Those demanded by society. C. Those not wanted by society. d. Those the company thinks are best for society.
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- 1. What goods and services should be produced to meet consumers' needs? In what quantity? When should they be produced?1. Explain the decisions taken for an individual product.sovercignty help determine what businesses produce? How Define consumer sovercignty. How does consumer sovercignty? . do businesses influence consumer
- What are the nature of product sold in perfect market ?Automobile manufacturers produce a range of automobiles such as sports utility vehicles, luxury sedans, pickup trucks, and compact cars. What fundamental economics question are they addressing by making this range of products? a. Why produce a variety of automobiles? b. What to produce? c. How to produce goods that consumers want? d. Who to produce automobiles for?1. What are the factors influencing consumer behavior? 2. What are the 4 components of market? 3. What are the 4 market structures? Give their characteristics. 4. Explain the law of diminishing returns.
- 1.Which characteristics a person making handicrafts should acquire to develop marketable products? 2.Why should you apply finishing materals on products? 3.What should you do to achieve a beautiful and attractive productSuppose oil prices rise sharply for years as a result of war in the Persian Gulf region. What happens and why to the demand for each of the following? a. gas-guzzling SUVs.b. Coal. c. Tires. Please answer step by step follow question.Answer must be correct. Don,t copy from anywhere. Write proper answer. Must expain what and why?What is the objective that the organization intends to achieve? a. optimize profit b. minimize cost O c. maximize returns O d. both and b O e. both a and c O f. both b and c g. a, b, and c Check
- 1. MICROECONOMICSWays to differentiate a product do NOT include: a. providing different types of customer service for a product. b. adding features to a company's product. C. charging a lower price than other companies for a given product. d. changing the quality of the company's product. Clear my choicExplain the concepts appraisal well and production well in brief ?