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Which economic systems has the greatest degree of competition?
Perfect competition. (Many small firms that produce similar products; buyers and sellers have good knowledge of the businesses)
Why is competition important in the US enterprise system?
Competition has, as two of it's results, improved products, and lower prices, both very good things for the consumer.
What is the difference between consumer and producer in economics?
The producer supplies good and services and the consumer demands them.
What are 5 factors that affect the demand of fast moving consumer good?
The 5 factors that affect the demand of fast moving consumer good include the price, quality, availability, competition and the use of the products. There are many other factors that affect the demand for such commodities
What is the level competition in a traditional economy?
In a traditional economy, people rely on barter or the exchange of one good for another good. In such an economy, the competition is any other valuable product that someone has to offer a dealer to rival what you have to offer.
Did Karl Marx say that the government should encourage competition between businesses?
It was Adam Smith, not Karl Marx, who said that government should encourage competition between business. In a (theoretical) communist society there is no competition because everyone works solely for the common good.
When businesses can sell many kinds of good that's called?
open competition
What aims do businesses have?
to make good profit and satisfy consumer's need and desires.
Which economic systems has the greatest degree of competition?
Perfect competition. (Many small firms that produce similar products; buyers and sellers have good knowledge of the businesses)
Why is competition important in the US enterprise system?
Competition has, as two of it's results, improved products, and lower prices, both very good things for the consumer.
How do businesses affect us in our modern society?
they provide a service to the consumer that is of a good standard and to cater for their needs and requirements.
What is the difference between consumer and producer in economics?
The producer supplies good and services and the consumer demands them.
Why do you have the modern day Olympics?
For a good will competition between countries
What is the difference between direct competition and indirect competition?
Direct competition is a company that offers a product that customers may choose over your product. Indirect competition is a company that offers a substitute good.
What is the difference between capital and consumer goods?
Capital goods, are goods used in production. Consumer goods are for the final consumer, as a person. For example, a machine that makes pins is a capital good, because a pin factory will buy it. But pins is a consumer good, because a person will buy it. A combine harvester is a capital good, but the bread is a consumer good.
What are 5 factors that affect the demand of fast moving consumer good?
The 5 factors that affect the demand of fast moving consumer good include the price, quality, availability, competition and the use of the products. There are many other factors that affect the demand for such commodities
Where is a good place to set up a eye doctor?
Talk to a reference librarian at a public library. There are databases that check businesses to see where your competition already has an office.
