0
What else can I help you with?
How did Americans build fortunes in the oil and steel industries?
Andrew Carnegie in steel and John D. Rockefeller in oil industry built fortunes by buying the competition, thus creating monopolies that could charge prices much higher than costs and earn large profits.
Why do US companies outsource jobs?
To reduce labor costs
Which if these is true about a joint stock company?
Investors share in benefits and costs (apex) .. (: . you cheater ;p
How much does it cost to go to united skates of America?
It costs about 26$ for more than 1 person for only 1 person it costs 7$ (kids) 12$ (adult)
What were common sayings in the 1940s?
Careless talk costs lives
Why is it important for companies to have competition?
Competition is vital for companies as it drives innovation, encouraging them to improve products and services to meet customer needs effectively. It also fosters efficiency, as businesses strive to lower costs and optimize operations to attract customers. Moreover, competition benefits consumers by providing more choices and better prices, ultimately enhancing market dynamics and economic growth. In a competitive environment, companies are more likely to remain responsive to changing market demands and consumer preferences.
Is it hard for a new company to get into prefect competition market?
No. Perfect competition assumes free entry and exit, which implies that fixed costs/entry costs are or are close to 0.
How does competition keep prices low?
Competition keeps prices low by encouraging businesses to improve efficiency and reduce costs in order to attract customers. When multiple companies offer similar products or services, they often lower their prices to gain market share. This price competition forces businesses to innovate and provide better value to consumers, which further drives down prices. Ultimately, the presence of competition ensures that consumers have choices and can shop around for the best deals.
What is unethical competition?
Unethical competition is trying to beat the competition by using immoral means. An example is employing slave labor in order to cut production costs.
What is the struggle among sellers to attract consumers while lowering costs?
Competition
What likely happened to the price of the books?
The price of the books likely fluctuated due to market demand, cost of production, and competitive pressures. It may have increased if demand surpassed supply or production costs went up. Conversely, the price could have decreased if there was excess inventory or intense competition.
Which financial policy would a wealthy northern industrialist have been most likely to support in the late 1800s?
A wealthy northern industrialist in the late 1800s would likely have supported tariffs on imported goods to protect domestic industries from foreign competition, thereby boosting profits and promoting economic growth. They would also favor a gold standard to stabilize the currency and ensure predictable value for investments. Additionally, support for government policies that facilitated infrastructure development, such as railroads, would align with their interests in expanding markets and reducing transportation costs.
What political process is most likely to be used when the cost of a policy are broadly distribution and its benefits are concentration?
Client politics was the political process that is most likely to be used when the costs of a policy are broadly distributed and its benefits are concentrated.
What methods did railroads use to limit competition?
"Cut-throat competition, also known as destructive or ruinous competition, refers to situations when competition results in prices that do not chronically or for extended periods of time cover costs of production, particularly fixed costs. This may arise in secularly declining or "sick" industries with high levels of excess capacity or where frequent cyclical or random demand downturns are experienced."sources: wikipediaand my textbook...
What Benefit(s) from large economies of scale in which the costs of goods decrease as output increases.?
perfect competition
Step down method and reciprocal method?
Both step-down method and reciprocal method belongs to the allocation metods which can be used to allocate support department costs to opertating department. (Now, I wanna tell you the three allocation methods are direct method, step-down method and reciprocal method.) First of all, the step-down method allocates some (but not all) support department costs to other support departments. Secondly, the first support department's costs are allocated to all operating and support departments that use its services. Then, each subsequent support department's costs are allocated to all operating and support departments that use its services, except any support department whose costs were already allocated. What's more, allocation order must be determined. For reciprocal method, first and foremost, the reciprocal method allocates all support department costs to other support departments. Secondly, the first step is to compute the total costs of each support department when its usage of other support department services is taken into consideration. In addition, support department costs are then allocated to all other operating and support departments that consume its services. I hope my answer can help your work. If I have some grammar mistakes, please point out, coz I am a Chinese adolescent. Thank you very much.
How can someone compare electric company costs without using the internet?
A person looking to check their electrical costs to compare them could contact their electrical company. They should be able to provide costs. Then a person could contact the competition to compare.
