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How are the various factors of production affected by global competition do you manage people any differently in a globally competitive environment?
Wiki User
∙ 9y ago
Global competition means that there is more competition with companies that may have lower costs of production. In a globally competitive environment, you have to train employees to be more culturally sensitive.
Wiki User
∙ 9y ago
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Why is it that firms can earn profits in the long run in monopoly and oligopoly but not in monopolistic competition and perfect competition?
Because monopolistically competitive firms have an optimal production allocation at monopoly values: marginal revenue = marginal cost, marking-up to the demand function. When competition is not perfect, marginal revenue does not equal demand but is always below it on a Cartesian plane, so the optimal production value of a monopolistically competitive firm is both less and at a higher price than a perfectly competitive one.
Why is it possible for competition among firms to force down to capital intensive production?
It is possible for competition to force competitors into capital intensive production in order to compete. When a firm does this, they can gain a competitive edge over others in the industry and get more customers because their competition will have to charge more to cover the expenses.
Farm production are highly competitive?
your mums highly competitive
What are the negative effects of wind power?
Noisy, kills birds, not good for the environment eyesore, not competitive with current energy production, when the wind does not blow it's revenue negative,
What are the factors of revenue is decreasing?
* Increased Competition * Decreased Market size * Undesirable change in the legal / governmental environment * Inefficient production or management * Lack of sales ability
What likely happened to the price of the books?
The price of the books likely fluctuated due to market demand, cost of production, and competitive pressures. It may have increased if demand surpassed supply or production costs went up. Conversely, the price could have decreased if there was excess inventory or intense competition.
What does capitalism encourage?
Competition Innovation in Production
Is The Competition a Disney movie?
No , "The Competition" starring Richard Dreyfuss is a Columbia Pictures Corporation production .
Are the varoius factors of production affect by globel competition?
Are the varoius factors of production affect by globel compitition
What is unethical competition?
Unethical competition is trying to beat the competition by using immoral means. An example is employing slave labor in order to cut production costs.
After the trusts had eliminated the competition they would cut back on production and?
raise prices
What is an example of a competitive industry and why is it competitive?
The smartphone production industry is one of the most highly competitive industries in the US at this time. The main competitors include Apple (iPhone), Research in Motion (Blackberry), and Palm (Treo), along with other competitors as well. The definitive explanation of the level of competition in an industry has been presented by Michael Porter. The amount of competition in an industry can be determined and described according to the the following: 1)barriers to entry into the industry, 2) available substitutes for the products produced by the industry rivals, 3) the power of the industry rivals over their customers, and 4) the power of the industry rivals' suppliers over the industry rivals.
