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The profit motive drives producers to maximize efficiency and innovation by seeking ways to reduce costs and improve products or services. This competitive pursuit encourages them to respond to consumer demands and preferences, leading to better quality and variety in the marketplace. Ultimately, it fosters economic growth as producers strive to capture larger market shares and increase their profits.
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What is one effect of the profit motive?
It pushes companies to seek to eliminate competition.
When a price control pushes the price of a good or resource below the market equilibrium then what?
When a price control pushes the price of a good or resource below the market equilibrium, it typically leads to a shortage of that good. This occurs because the lower price increases demand while discouraging production or supply, as producers may find it unprofitable to sell at the reduced price. Consequently, consumers may struggle to find the product, leading to potential rationing or black markets as buyers compete for the limited supply.
What would happen if there was an increase in the number of firms?
Pushes it out
What are the disadvantages of price mechanism?
dcb Miami FL Advantages: (1) The market gives producers an incentive to produce goods that consumers want. (2) The market provides an incentive to acquire useful skills. (3) The price system encourages producers and consumers to conserve scarce resources. (4) Competition pushes businesses to be efficient: keeping costs down and production high. (5) The market system involves a high degree of economic freedom. Disadvantages: (1) A private market economy may be quite unstable (unemployment, inflation, growth) (2) Business may simply satisfy the wants they have created through advertising. (3) Prices may give false or inadequate signals to producers and consumers (externalities, like pollution). (4) Markets just do not work in some areas (public goods, such as national defense). (5) Monopolistic industries may restrict output and drive up prices. (6) Market economies tend to produce a skewed distribution of income (large gap between the rich and the poor).
What is harmful competition?
Harmful competition is when one pushes themselves to far. When they become a danger to their health or have break downs when they lose.
What is one effect of the profit motive?
It pushes companies to seek to eliminate competition.
What is meant by electro-motive force?
Electro-motive force (EMF) is a measure of the electrical energy provided by a voltage source to drive current in a circuit. It is the force that pushes electrons through a circuit, creating a flow of electric charge. EMF is typically measured in volts.
Why does Iceland have so much geothermic energy?
Because it sits on top of a spreading fault line which pushes magma upwards heating all the rocks around it this also explains icelands volcanic activity
What is the relationship between instincts and motives?
An instict is an impulse to do something based on an innate sense or deep habit. It can also be an imborn talent or skill. Impulses push a person's will without pushing their reason. For example: Jim instictively reached for his gun when we saw the posse round the bend. A gut sense or deep habit causes Jim to react witout any thought process to decide how to react to the posse.A motive, on the other hand, is the reason behind a person's actions. It is often a desire for a a specific goal that leads a person to act as they do. Motives push a person's reason without necessarily influencing their will. For example: When Jim saw the posse round the bend, he thought that it was time to stop running; he reached for his gun. The desire to stop runnign and fight pushes on Jim's reasoning. Because his motive is to fight, he reacts to the posse by reaching for his gun.The relationship between instinct and motive lies in how they push a person to action. Instict moves a person's will and pushes them to act, often immediately. Motives pushes a person's reasoning and desires, and they are the cause of a person's action.
What is a force that bears weight or pushes?
bears weight and it pushes something
What are pushes and pulls?
pushes and pulls are things you do when energy is applied
Is pushes a past or a present?
Present. He Pushes He Is Pushing He Does Push -Present Indicative
What is the name of the force that pushes agisnt an aireplane as it tries to move forward through the aire?
'Thrust' pushes against it from the rear, and 'drag' pushes against it from the front.
Which of newtons laws explains the achievement of lifting a rocket off the ground and into space?
Newton's Third Law. Equivalent to Conservation of Momentum. By Newton's Third Law, if the gas is pushed out of the rocket, the gas pushes the rocket back, in the opposite direction.
What Structure pushes fetus out of the mother?
The structure that pushes the fetus out of the mother is called the uterus.
What is the past tense of pushes?
The past tense of push is pushed.
What does it mean if a guy's friend pushes him to you and tells him to talk to you but he pushes his friend away?
means that he wants you
