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In a free-market system producers are motivated to reduce costs and increase revenues because of what?
The profit motive.
In a free-market system producers are motivated to reduce costs and increase revenues because of?
The profit motive.
In a free-market system the profit motive motivates producers to do?
Minimize costs and maximize revenues.
In a free market system the profit motive motivates producers to do which of the following?
minimize costs and maximize revenues
Which choice gives a reason that property rights must be protected in a market economy?
Producers must be ensured that they will be able to sell their products and keep the revenues
In a free-market system producers are motivated to reduce costs and increase revenues because of what?
The profit motive.
In a free market system producers are motivated to reduce cost and increase revenues because of?
The profit motive.
In a free-market system producers are motivated to reduce costs and increase revenues because of?
The profit motive.
In a free-market system the profit motive motivates producers to do?
Minimize costs and maximize revenues.
In a free market system the profit motive motivates producers to do which of the following?
minimize costs and maximize revenues
Which choice gives a reason that property rights must be protected in a market economy?
Producers must be ensured that they will be able to sell their products and keep the revenues
Why are supply curves typically upward-sloping?
Supply curves are typically upward-sloping because as the price of a good or service increases, producers are willing to supply more of it to the market in order to maximize their profits. This is because higher prices mean higher revenues for producers, making it more profitable for them to increase their production levels.
What are the Advantages and disadvantages of market penetration?
An advantage to market penetration is the fact that a business will increase their revenues. A disadvantage is the fact that they are essentially remaining in a regional area.
What would be the effect of an increase in producers?
An increase in producers typically leads to a greater supply of goods or services in the market, which can result in lower prices due to increased competition. This can enhance consumer choice and potentially stimulate demand. However, if the increase in producers outpaces consumer demand, it may lead to surplus and reduced profitability for some producers. Overall, the market dynamics shift towards a more competitive environment.
When will there be an increase in supply?
An increase in supply occurs when producers are able and willing to offer more goods or services for sale at a given price. This can happen due to factors such as lower production costs, technological advancements, or an increase in the number of producers entering the market.
What factors contribute to an increase in supply?
Factors that contribute to an increase in supply include lower production costs, technological advancements, favorable weather conditions, and an increase in the number of producers entering the market.
Why do producers heed the cues of the market place?
Producers heed the cues of the marketplace to align their offerings with consumer demand, ensuring they meet the preferences and needs of buyers. By responding to market signals, such as trends, pricing, and competition, producers can optimize their production decisions, reduce waste, and increase profitability. Additionally, staying attuned to market cues helps producers anticipate changes and adapt their strategies accordingly, fostering long-term success and sustainability.
