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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.
Why can a firm in monopolistic competition make an economic profit only in the short run?
A firm in monopolistic competition can make an economic profit only in the short run because in the long run, other firms can enter the market and offer similar products, increasing competition and driving down prices, which reduces the firm's ability to maintain high profits.
How would you characterize the nature of competition in the restaurant industry. Are there submarkets with distinct competitive pressures. Are there important substitutes that constrain pricing?
Restaurants certainly compete with each other for business. There are many restaurants that serve the same style of food, and these restaurants are often in competition.
When an industry's raw material costs increase other things remaining the same?
The supply curve shifts to the left.
Suppose that as the output of mobile phones increases the cost of touch screens and other component parts decreases. If the mobile phone industry features pure competition we would expect the long-r?
Downward sloping.
Industry competition' definition?
The term competition means that there is more people or animals in you're way of winning or for animals eating .
What are the other inputs in the process of the manufacturing process of the manufacturing process of the cost?
Lots of things go into the rising transportation costs of the agricultural industry, including rising prices of oil and increased competition in the field.
What are the other inputs in the process of manufacturing in agro based industries that involve transportation cost?
Lots of things go into the rising transportation costs of the agricultural industry, including rising prices of oil and increased competition in the field.
Does competition affect your society positively?
competition makes people do their best. when someone loses in a competition then it makes them strive to win the next time. the society needs to have competition, that is how the world advances and competition is why we are ahead in technology and other areas that need competition. it is everywhere , you cant help it . there is no way you can have a life with out you competing in smallest things like eating quickly or large things like finding out the other galaxies in the world.
Why were other nations able to challenge Britain's leadership in industry?
Other nations were able to challenge Britain's leadership in industry due to factors such as their own industrialization, advancements in technology, access to natural resources, and cheaper labor costs. Additionally, competition from other countries led to the decline of Britain's dominance in industry.
What industries operate almost devoid of global competition and what inherent immunities do they enjoy?
There is one industry in the United States that operates almost devoid of global competition. That industry is the coffin making business. The money printing and minting business is another one that does not have any other competition because only one company is authorized to print money in the United States.
People paid to do things for other people work in this kind of industry?
Demand
What outside forces are applying pressure to the building industry?
Competition is the biggest force that is applying pressure to the building industry. Other factors applying pressure includes ownership change, technology, and customer pressure.
What are the other inputs in the process of manufacturing that involve transportation cost in mineral based industries?
Lots of things go into the rising transportation costs of the agricultural industry, including rising prices of oil and increased competition in the field.
Who are paydayloans biggest competitors?
Recently, pay day loans are experiencing competition from other banks and credit unions. This may cause the pay day loan industry to lower their rates with the newer competition entering the field.
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.
What provided competition for frozen foods in the early 2000s?
Due to increased competition from other sectors of the food industry, such as refrigerated entrees and ready-to-eat meals prepared by grocery store delis, frozen food sales began to weaken in the early 2000s.
