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What else can I help you with?
Identify at least three challenges when setting up a business?
1. Cash flow 2. Product Supply/Demand 3. Human Resource
If the demand of a product increases but the supply does not is it better for the consumer or the business owner?
For the business owner
What does a business have if they have complete control of the supply of a product?
A business that you have described here could be called a monopoly.
A large business that controls the supply andor sale of a product?
A monopoly.
A business that is owned by stockholders is called?
State a business formed to manufacture or supply product for a profit
Supply has the potential to contribute to what?
Supply has the potential to contribute to demand. When a product is highly demanded, but the supply is low, a producer can increase their price. This process will increase revenue for the business.
What is it called when a business is in compete control over the supply of a product?
That's called a 'monopoly' - Since they are the only supplier of the product - they can fix the price.
What factors are considered when identifying business goals and policies related to price?
amount of sales that are sought, pricing policies of competitors, profits that are projected, supply of the product that is available and projected demand for that product, the location of the business
How might you calculate elasticity of supply?
Elasticity of supply is the amount a price changes based on changes in supply. An elastic good's price will change as the price changes. If the good is inelastic, as the supply of the product changes, the price does not change. Inelastic curves are very straight up and down. Elastic curves are straight horizontally. Elasticity of supply is an important factor for business managers. Business managers want to know how the price they offer for their product will change based on how much they produce.
The quantity of a product or service that business will make available at various prices is called?
supply.. or demand. a or b.. 50/50 chance
Which factor would most likely cause the supply of a company's product to decrease?
The company decides to go into a different line of business.
What are the benefits of using commercial gas tankless water heaters in a business setting?
Commercial gas tankless water heaters offer several benefits in a business setting. They provide a continuous supply of hot water, are energy efficient, have a longer lifespan compared to traditional water heaters, and take up less space. Additionally, they can help reduce utility costs and provide a more reliable hot water supply for business operations.
