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Are inefficient markets Select all that apply. Consumers compete for wages in a free market economy. Consumers wait in line to buy a sale television because the first to come is the first served.?
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Why it is better when two firms compete?
It is good for two firms to compete, especially for the consumer. The best way to show this is by a basic example. If Company A is the only company that makes TVs, then they can charge whatever they want to because they are the only company that makes it. If Company B begins to make TVs, then Company A now has competition. Now, Company B could price their TV lower than Company A, and in return, Company A has to price theirs lower to keep up with the competition. Now, in today's world, throw in multiple competitors and that is what the economy is made of. It is great for the consumers, but bad for the firms because they won't make as much money as they would if they had a monopoly. The Sherman Antitrust Act was put in place to protect consumers from monopolies taking advantage of them.
How can the demand for one good be affected by increased demand for one another?
They compete for the consumers' dollars. If I spend on a car I have no $ for clothing. They compete for capacity, If I eat cake I have no capacity to use pie. They compete for materials. If I use corn to fuel cars there is less corn to eat.
What are entrepreneurial forces?
If there is an unmet need or inefficiency in the marketplace, entrepreneures may start new companies to meet the need or compete efficiently against existing inefficient providers. Thus the entrepreneurs force the market to produce efficiently and to meet unmet buyer demands.
Why is competition good for both consumers and buisinesses?
Competition pushes any businesses out of their comfort zones because of the quest to serve better in the industry. Leaving your comfort zone helps businesses to beat the records of their competitors, which fosters innovation. If companies compete, the competitor will promote the markdown of their products, the enhancement of their services, and the improvement of their products ability. When this happens the consumers get the opportunity to pick and choose who is worth their money, time and attention.
Is the US able to compete globally because of its diverse population?
Companies in the US are able to compete globally because they have a lot of information about what potential customers abroad want. They have robust information systems, which other countries may not have access to.
Why it is better when two firms compete?
It is good for two firms to compete, especially for the consumer. The best way to show this is by a basic example. If Company A is the only company that makes TVs, then they can charge whatever they want to because they are the only company that makes it. If Company B begins to make TVs, then Company A now has competition. Now, Company B could price their TV lower than Company A, and in return, Company A has to price theirs lower to keep up with the competition. Now, in today's world, throw in multiple competitors and that is what the economy is made of. It is great for the consumers, but bad for the firms because they won't make as much money as they would if they had a monopoly. The Sherman Antitrust Act was put in place to protect consumers from monopolies taking advantage of them.
How has industrial technology created problems for Moravia?
Moravias old coal and steel industries now face an uncertain future, because they are too inefficient to compete in the world market
How do you be on deal or no deal the tv show?
compete entry form
Why is capitalism is called a free economy?
Producers are compete freely for consumers' business.
Do Olympic athletes get paid for TV interviews?
No they cannot be paid if they compete in the Olympic games, they are amateurs until they are paid professionally, then they can no longer compete in the Olympic games.
Why is capitalism called a free-market economy?
Producers are compete freely for consumers' business.
How did radio change to compete with television in the 50's?
The radio became portable in the 50's so that people may listen to it outside the home. This invention of the portable radio made it able to compete with the television.
What kinds of challenges is reunification causing Germany?
after reunification, many old and inefficient factories could not compete with the new industrialized factories in the west and were forced to close.
What challenge does the reunification of Germany brings?
After reunification, Many old and inefficient factories in the east could not compete with the more advanced industries in the west forcing them to close
Which systems compete with LCD TV monitors?
Systems that compete with LCD TV monitors are OLED, FED and SED that produce light directly on the front face of the display. They also offer better viewing angles, higher brightness and contrast ratio.
What problems have emerged as a result of German reunification?
Many old and inefficient factories in the east could not compete with the more advanced industries in the west an we're forced to close.
Which is better lcd or plasma?
Currently Plasma is only competitive at sizes above 40".In truth they get a bad rap without much basis.Their quality is slightly better,but they can't compete on price at the most common form factors in people's living rooms.
