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5 Describe the characteristics of an oligopoly market structure?
differentiated product only no entry either homogeneous or differentiated product difficult entry
What characteristics do developed nations share?
Developed countries have high levels of living standards. The characteristics they share are: a high GDP or gross domestic product per capita, industrialization and a very high Human Development Index or HDI rating.
Characteristics of perfect competitive market?
A perfectly competitive market has many competitors. There is no one competitor that has more say in product prices within the industry.
What characteristics must a product have to be considered wealth?
A product must possess a few key characteristics to be considered wealth: it should have intrinsic value, meaning it holds worth beyond mere perception; it should be scarce, as limited availability increases desirability; and it should be durable or have longevity, allowing it to retain value over time. Additionally, it often needs to be transferable, enabling ownership changes that can facilitate trade and investment.
Which type of utility can only be added by the maker of the product?
The type of utility that can only be added by the maker of the product is known as "form utility." This utility is created through the design, features, and overall quality of the product, reflecting the maker's ability to transform raw materials into a finished good that meets consumer needs. Essentially, it involves enhancing the product's value by refining its physical characteristics, making it more appealing and functional for consumers.
What are the objective characteristics of the product?
The objective characteristics of a product are its physical attributes and features that can be measured and observed, such as size, weight, color, material, and functionality.
What are the characteristics of industrial market?
1.demand characteristics. 2.market characteristics. 3.product characteristics. 4.price characteristics. 5.place or distribution characteristics. 6.promotional characteristics. 7.behavioral characteristics.
What are the characteristics of products and how do marketers classify products?
Characteristics of a product are products are tangible,products can see,
What are characteristics of product inseparability?
E.g Bread and Butter
What are class and individual characteristics?
Class characteristics are features that are common to a group of items, like the type of material used in a product. Individual characteristics are unique features that make an item distinct from others in that group, such as a specific serial number on a product.
What are the characteristics of a good product?
good quality saisfation etc
What are the Characteristics of growth in product development?
Demand and urge for change
Does the product of a chemical reaction retain the same characteristics of the reactants?
no
What are the characteristics of goods?
Goods are described as any tangible product that is traded or sold. The characteristics of goods are physical properties and marketability.
What is the level at which the product's primary characteristics operate?
The level at which a product's primary characteristics operate is typically at its baseline functionality or performance specifications. This is the level at which the product is designed to function optimally and provide its intended benefits to the user. Deviations from this level may result in reduced efficiency or effectiveness of the product.
What are the characteristics of an informed consumer?
informed consumers are aware of what is inside the product they have bought, they ask questions and have knowledge about the risks and benefits of the product
What are characteristics of an informed consumer?
informed consumers are aware of what is inside the product they have bought, they ask questions and have knowledge about the risks and benefits of the product
