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What method does 'OPEC' use to raise the price of oil?
OPEC uses supply and demand to determine prices. If they want to raise the price, they slow down production. The lower supply will equal higher prices.
What method of mass production increased the supply and reduced the cost of the automobile?
The method of mass production that significantly increased the supply and reduced the cost of the automobile is the assembly line technique, pioneered by Henry Ford in the early 20th century. This approach streamlined the manufacturing process by breaking down the production into smaller, repetitive tasks performed by workers or machines along a conveyor belt. As a result, it drastically lowered production time and costs, enabling the mass production of automobiles at a price that was accessible to a larger segment of the population.
What are the objectives of entrepreneurship?
the main objective is to generate huge profits through the launching of new products on the market, method of production, opening new markets and new sources of supply
What are the assumptions to the law of supply?
1) Natural Factors:The supply of a commodity depends on the natural environment. The supply of agricultural product is affected adversely by weather, natural calamities like flood, cyclone etc. On the other hand adequate rainfall and good weather etc. increase supply.(2) Method of Production:Method of production affects the supply of a commodity by reducing the cost of production. Due to modern method of production cost of production diminishes and the price of the commodity almost remains constant. As a result profit margin rises. Being lured by the windfall profit producers produce more and offer more for sale.(3) Fall in the Factor Prices:Supply of a commodity also increases due to the fall in the price of factors of production meant for its production. The prices of factors of production constitute a part of the total cost of production. Due to the fall in the factor cost production cost is reduced with reduced costs the supply of goods rises.(4) Prices of other goods:There are certain commodities which are in nature of substitutes and complementary. In case of a substitute the producer will substitute the commodity whose price has fallen. The resources will be diverted from the supply of substitute commodity whose price has fallen.(5) Number of firms:If the number of firms producing commodity increases, the market supply curve shifts downward. In the short run the existing firms reap abnormal profit. But lured by the abnormal profit the competitive firms enter the market to produce the same commodity. This raises the supply; likewise the competitive firms leave the market due to loss. So the supply diminishes.(6) Expectation of future price:The supply of a commodity depends on the future expectation of price. If the price in expected to fall, the sellers will supply more at a low price and if the price is expected to rise in future, the seller will sell less and store for future sale.eIshphaq R PlaKashmir India09906735663
What method does OPEC used to increase its profits?
Limiting the supply of oil
What method does 'OPEC' use to raise the price of oil?
OPEC uses supply and demand to determine prices. If they want to raise the price, they slow down production. The lower supply will equal higher prices.
Example of rule method?
The rule method is used to describe any set of numbers, so put any sequence of numbers in brackets and there you go.
What method of mass production increased the supply and reduced the cost of the automobile?
The method of mass production that significantly increased the supply and reduced the cost of the automobile is the assembly line technique, pioneered by Henry Ford in the early 20th century. This approach streamlined the manufacturing process by breaking down the production into smaller, repetitive tasks performed by workers or machines along a conveyor belt. As a result, it drastically lowered production time and costs, enabling the mass production of automobiles at a price that was accessible to a larger segment of the population.
What was the Production Budget for A Dangerous Method?
The Production Budget for A Dangerous Method was $20,000,000.
Describe the ancient method of information transmission?
describe the ancient method of transmitting information
Who invented assembly-line method of production?
Henry Ford invented the assembly-line method of production
Which method is used to compute depletion?
Units of production method.
What are the objectives of entrepreneurship?
the main objective is to generate huge profits through the launching of new products on the market, method of production, opening new markets and new sources of supply
What are the examples of roster method in algebra?
The roster method represents a set of something. In algebra, the roster method is used to describe a simpler set that is difficult to describe.
When did Henry ford create the Assembly-line method of production?
Henry Ford invented the assembly -line method of production in 1913
What is an example of the survey method used in psychology?
what is an example of the survey method
What manufacturing method was used by Henry ford?
Assembly-line method of production.
