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What is competitive supply?
There is competitive supply,if an increase in the output of one commodity requires a reduction in the output of another commodity.
What is the definition of perfectly elastic supply?
The definition of perfectly elastic supply is a supply that can change along with the demand. This means if paper for example is not demanded in large quantities and then all of the sudden is there will be enough paper to supply the demand.
Definition of determinants of supply?
Assuming the market is perfectly competitive and there are no government imposed restriction, the quantity supplied will equal the quantity demanded, meaning the quantity demanded by buyers equals the quantity supplied by sellers.
What happens to prices in a free competitive market?
In a free competitive market, prices are determined by supply and demand. When demand for a product or service is high and supply is limited, prices tend to increase. Conversely, when demand is low and supply is abundant, prices tend to decrease. This dynamic process of supply and demand helps to ensure that prices in a free competitive market are set at a level that reflects the true value of goods and services.
What is equilibrium price in economics?
It is the price where demand equals supply in a competitive market.
What is the meaning of competitive supply mean?
Competitive supply is supplies that could be produced using the same equipment that you use to produce another supply. For example, spaghetti and meatballs are competitive supply with lasagna, because they are made with the same ingredients.
What is competitive supply?
There is competitive supply,if an increase in the output of one commodity requires a reduction in the output of another commodity.
Definition of competitive edge?
the intensity of desire or enjoyment
What competitive advantages can a lean supply strategy confer on the manufacturing industry?
What competitive advantages can a lean supply strategy confer on the manufacturing industry? Explain in detail how these advantages are secured and maintained.
What is the definition of perfectly elastic supply?
The definition of perfectly elastic supply is a supply that can change along with the demand. This means if paper for example is not demanded in large quantities and then all of the sudden is there will be enough paper to supply the demand.
Definition of determinants of supply?
Assuming the market is perfectly competitive and there are no government imposed restriction, the quantity supplied will equal the quantity demanded, meaning the quantity demanded by buyers equals the quantity supplied by sellers.
What happens to prices in a free competitive market?
In a free competitive market, prices are determined by supply and demand. When demand for a product or service is high and supply is limited, prices tend to increase. Conversely, when demand is low and supply is abundant, prices tend to decrease. This dynamic process of supply and demand helps to ensure that prices in a free competitive market are set at a level that reflects the true value of goods and services.
Strategic fit in supply chain management?
Strategic Fit meansthat both the Competitive and Supply Chain Strategies have algned goals. It also refers to the consistency between the customer priorities that the Competitive strategy hopes to satisfy and the Supply chain capabilities the Supply chain strategy aims to build. For an example IKEA and Walmart
What is equilibrium price in economics?
It is the price where demand equals supply in a competitive market.
How have recent advances made supply chain information technology systems more effective?
the recent advancements made in the IT systems help the companies to get the visibility in the supply chain and to communicate with supply chain partners instantly in oredr to keep their supply chain very competitive. the recent advancements made in the IT systems help the companies to get the visibility in the supply chain and to communicate with supply chain partners instantly in oredr to keep their supply chain very competitive.
A firm operating in a purely competitive resource market faces a resource supply curve that is?
B. Perfectly elastic This is because it is operating in a perfect competitive market
What is the general definition of stroke?
A disturbance in the blood supply to the brain
