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For consumers most market activity can be explained by the goal of?
maximizing happiness
In which type of economy would consumers have the most choices of products to buy?
market
Which economy would consumers have the most choices of what products to buy?
market economy
How does competition among firms benefit consumers and regulate the market?
Competition among firms benefits consumers by driving innovation, improving product quality, and lowering prices as companies strive to attract customers. This rivalry encourages businesses to differentiate their offerings and enhance customer service, leading to a wider variety of choices for consumers. Additionally, competition acts as a regulatory force in the market, as inefficient firms may be forced to exit, ensuring that only the most effective and customer-focused businesses thrive. Overall, this dynamic fosters a more efficient and responsive market environment.
Which type of economic system are consumers most likely to determine what goods will be produced?
The retail system. Thats where the consumers decide what they are going to purchase.
Are there benefits to competition?
There are so many benefits that are associated with competition in a market. Some of the main benefits include quality products, competitive prices, consumers are not exploited and so much more.
Which type of economy would consumers have the most most choices of products to buy?
market
For consumers most market activity can be explained by the goal of?
maximizing happiness
What type of market would most likely cause consumers to pay more for a product?
bull market
What are the benefits of a global market and why?
It allows consumers to access the widest possible range of products and services and suppliers to access the largest possible customer base. A global market allows countries with poor populations to thrive from consumers in rich countries.
In which type of economy would consumers have the most choices of products to buy?
market
Which economy would consumers have the most choices of what products to buy?
market economy
What is the utility of a monopoly in the market?
A monopoly in the market can provide benefits such as economies of scale, innovation, and efficiency. However, it can also lead to higher prices, reduced competition, and potential harm to consumers.
The difference in marketing a company's product to organisations rather than consumers?
When a company markets to another business, they must include more technical and expert details. When they market to consumers, providing the features and benefits are sufficient.
What is selective perception and how does it influence consumer behavior?
Selective Perception is an excellent marketing tool utilizing a focus target market in order to gain a greater share of the wealth from a market by incorporating stimuli that is focused on the trigger or triggers the consumers of the focus target market share. The commonality among the consumers is what the marketer benefits from as the consumer or consumers view the trigger or triggers as a current or potential demand or need.
What is the core product?
The core product is the most basic level, what consumers really buy in terms of benefits
What are contestable consumers in the electricity market?
These consumers have the choice of buying electricity either from retailers or from the wholesale electricity market.
