Why do markets need both adequate competition and adequate information?

Answers

Answer 1
Let's think about you want to build your home. You know 3 constructors who can build your home as you want to. But the price rate vary to each constructors. so made a tender and call these 3 constructors to join. At last they present their rate to build your building. Here is the question that who would you choose? You must choose that constructor who present the least rate for that tender. And you select the ONE. so you take a competition on three of them. that's why market need adequate competition. So you done it by lower price. It is a important terms that highly executed in business world. Think you want to buy something from another company but you don't know about that product. It means you are ignoring the fact that your money is under a good deal or bad. you have no interest about your money. but you are doing business for the money. so that you need that adequate information for that product. nothing else...

Related Questions

The first step in the ted five-step protocol for effective presentations is

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The first step in the TED five step protocol for effective presentation is, " frame your story ". This is the important step for a presentation. It indicates, first we frame our story properly. Then we proceed the other three steps.

If the consumer has money income of $52 and the prices of j and k are $8 and $4 respectively, the consumer will maximize her utility by purchasing:

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I dont know so so so sorry

Many organizations now follow the ___________ model to form teams that can handle network intrusions and attacks quickly and effectively.

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This is the CERT Resistance Management model. The Computer Emergency Response Team is able to work on security incidents and stop them before they do large-scale damage to companies' networks and their assets. These teams are more common to large companies, who may have larger batches of vulnerable data to protect.

Any activity that does not add value to the good or service in the eyes of the consumer is ________.

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Waste. 

Brainest Answer is appreciated!

Nike _________________ its products in foreign countries, where labor is cheap and production sites are owned by other companies. this strategy allows nike to experiment in new markets without incurring large start-up costs involved with building their own production facilities.

Answers

The answer to the blank provided in the question "Nike _________________ its products in foreign countries, where labor is cheap and production sites are owned by other companies. this strategy allows nike to experiment in new markets without incurring large start-up costs involved with building their own production facilities." is Contract Manufactures.
Final answer:

Nike outsources its production to foreign countries to lower startup costs and tap into new markets. Outsourcing has led to the rise of sweatshops with dire labor conditions, widely criticized by human rights advocates. This business strategy, fueled by global trade policies, seeks to maximize profits by exploiting lower costs in developing countries.

Explanation:

Nike outsources its products in foreign countries, taking advantage of cheap labor and production sites owned by other companies. This outsourcing strategy enables Nike to delve into new markets without the substantial initial costs that come with constructing production facilities. However, outsourcing has led to the creation of sweatshops, which are factories where laborers, often including women and children, work in hazardous conditions for meager wages. The conditions in these sweatshops can be perilous, as highlighted by the tragic Rana Plaza building collapse in Bangladesh in 2013.

Multinational corporations (MNCs) like Nike are drawn to countries with lower production costs, including cheaper labor and existing industrial infrastructure. These corporations have been subjected to criticism for their profit-driven strategies, which exploit the labor of poorly paid workers in unsafe environments. Furthermore, the transition of factories from developed countries to places like China and Bangladesh impacts job availability domestically and contributes to economic shifts worldwide.

Trade policies and the lowering of trading barriers have also facilitated the movement of manufacturing to countries where operation costs are lower. For instance, automobile manufacturers have set up assembly plants in Mexico to utilize the lower wage rates. These actions are part of a global phenomenon of companies seeking the most cost-effective production options, often at the expense of the labor force in these developing regions

Trevor paid a total of $1.08 in fines for an overdue library book. If the penalty for overdue books is $0.09 per day, how many days late was the book? 2 days 8 days 12 days 20 days

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12 days
Divide 1.08 by 0.09 then you get the answer 12.
You divided the total amount by the price per day and you get the total amount of days.

Answer:

12 days

Explanation:

Some have believed that emotional intelligence (EQ) is a better predictor for success then a general intelligence (IO). Do you believe this is true, why or why not?

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I believe that it not true, general intelligence is a better predictor
I believe it really depends on the situation. When you are looking for a job, I think that IQ is definitely more important because you have to show your skills and knowledge. But once you've landed the job, everyone around you will have more or less the same IQ level as you. So this is where EQ comes into the picture. Not all people in your workplace will have the same EQ which means that it can have a significant effect on your success within your company, and afterwards, in life.

Collisions caused by fatigue are particularly likely to involve

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Collision caused by fatigue are particularly likely to involve MEN.
Previous research studies had shown that men are more likely to drive while drowsy than women. Also, men are almost twice as likely [22% versus 12%] as women to fall asleep while driving as a result of fatigue.

Every general purpose computer, regardless of type, requires an application package that supports business functions

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If the question is asking whether the statement is true or false, the answer of it would be true. It is because a general purpose computer is in need and requires to have an application package in which will help it to function and to carry out its computer task such as business functions in which will help other individual to carry out task easily with the use of this technology.

Before you purchase an internal laptop part to replace a broken one, what should you verify?

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Before you purchase an internal laptop part to replace a broken one,  you should verify its compatibility with the brand of your laptop.  It is important to save cost – because almost all parts are expensive. It is important to save time, too. 

Match each scenario with the step in the home-buying process it describes

Answers

1 closing,2 appraisal and 4 prequalification

Answer: The correct answers in order are Closing, Appraisal, Inspection and Prequalification.

Explanation: As a person is going through the steps to purchase a home there are a number of steps that will occur.

During the closing Jane has to pay the fees in order to complete the purchase.

The appraisal involves the bank getting an independent value on the home.

During an inspection a license professional may find mold in the basement.

In the prequalification process Jane would have her financial status verified and would get a mortgage estimate.

Which best explains one of the benefits provided by economies of scale?

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Economies of scale are the economic efficiency of carrying out processes on a larger scale. These are the costs advantage you get when you expand your business. As a firm expands, their costs fall because of marketing economies, purchasing economies, administrative economies, and etc. 

Answer: a larger customer base enables retailers to pay lower prices for wholesale goods

Explanation: Good luck :)

Iron triangles have given way to _____ over the years. intergovernmental lobbying issue networks reverse lobbying iron squares

Answers

Iron triangles have given way to INTER-GOVERNMENTAL LOBBYING over the years.

Iron triangles refer to a mutual relationship between three three groups or organizations such as government agencies, interest groups and legislative committees (law makers). It is a policy making relationship in the United States politics. 

Product differentiation describes registered differences in product characteristics. only occurs when there is brand loyalty. provides an advantage in the market. is usually nonexistent.

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Product differentiation I believe provides an advantage in the market, for example I used to purchase some pvc pipe for horizontal drainhole drilling at a large open pit mine from a supplier in Washington state. Then I found out that the same type of pipe was also available from within Canada at a cheaper rate, firstly at a fairly far location, and later at a much closer location, so therefore I finally bought it at the much closer location and at the same time made a "Buy Canadian" policy. 

Final answer:

Product differentiation refers to actions taken by firms to make consumers perceive their products as different from competitors. It can be achieved through physical aspects, location, intangible aspects, and consumer perceptions. Product differentiation provides a competitive advantage in the market.

Explanation:

Product differentiation refers to any action that firms take to make consumers perceive their products as different from those of their competitors. It can be achieved through various means such as physical aspects of the product, location of sale, intangible aspects, and consumer perceptions.

For example, a company may differentiate its product by offering a guarantee of satisfaction, free delivery services, or a reputation for high quality. Product differentiation can also occur in the minds of buyers due to past habits and advertising, leading to brand preferences.

Product differentiation is advantageous in the market as it helps companies stand out, attract customers, and create brand loyalty. It allows companies to charge higher prices and gain a competitive edge over their rivals.

What is persecution?

Answers

Persecution:hostility and ill-treatment, especially because of race or political or religious beliefs.
Persecution is the act of mistreating or oppressing someone based on their ethnicity, political views, or religious beliefs.  

When walmart gathers information about what target is doing so as to be more​ proactive, walmart is engaged in​ ________?

Answers

Walmart is engaged in Competitive Analysis. This involves a comparison of what Target is doing and how that may relate to or affect Walmart. This could include things such as customer experience, sales, inventory, or several various aspects of their business.

When Walmart gathers information about Target to be more proactive, it is engaged in competitive intelligence.

When Walmart gathers information about what Target is doing so as to be more proactive, it is engaged in competitive intelligence. Competitive intelligence involves gathering and analyzing information about competitors in order to make informed business decisions.

In this case, Walmart is being proactive by studying Target's strategies, marketing campaigns, pricing, and other factors to gain insights and improve its own business strategies. By staying aware of what Target is doing, Walmart can identify areas where it can outperform its competitor and make strategic adjustments to stay ahead.

Overall, proactive competitive intelligence helps companies like Walmart understand the market landscape, anticipate changes, and make informed decisions to gain a competitive advantage.

Learn more about competitive intelligence here:

https://brainly.com/question/33560694

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What changes have increased the risk associated with the santa ana winds in southern california?

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The landscape trees that are normally utilized are more combustible than the vegetation that occurs naturally are the changes that expanded the hazard which is related with Santa Ana winds (Santa Ana winds (SAW) alludes to the most famous fire-climate conditions in the United States and are involved in rapidly spreading fire and wind hazards) in Southern California.

What is common and expected of shoppers looking for good deals in the markets of santo domingo?

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Negotiating prices!

(11.6.2017)

What has happened to newspapers and news stations since the advent of internet news?

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hard copy/extremely popular news companies business mostly remain intact, however internet news is found much more convenient to millennial despite the often false content. this has an effect on the popularity of non online newspapers. however, may companies exist both on paper and online. hope this helps!

Answer:

CREATED WEBSITES OR GONE OUT OF BUSINESS !!!

Explanation:

in a formal business document, a works cited list usually appears

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In a formal business document, a works cited appears at the end of the document.

Happy Studying!

Answer: at the end

Explanation:

The motivating force behind an increase in supply in a long-run adjustment to equilibrium is

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Economic profits that are present in the short run.

Several studies have indicated that strategic decision making is enhanced by using​ _____________.

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The answer is strategic planning-- with strategic planning, a person may be able to understand and evaluate the problem that he or she is facing in which it is a process of enhacing and developing the strategic decision making that will help the individual to take action in terms of trouble.

A voip caller wishing to contact another sends an invite message to ________.

Answers

There are three choices the caller's H.323 proxy server, the receiver's H.323 proxy server and the receiver directly but none of these choices are correct. So the answer in this question will be none of the above. It is hard to know where you would send the invite message so the answer is NONE.

Which arrangement represents a long-term company-wide incentive plan that provides employees with the option to purchase ownership in the company?

Answers

Employee stock option plans represents long term company wide incentive plan that provides employees with the option to purchase ownership in the company. Many companies use employee stock options plans to compensate, hold, and recruit employees. These are contracts between an employer and its employees that give employees the ability to acquire a particular number of the company's shares at a fixed price.

Compare the world population index for 1960 to the world population index for 2000. then express the world population in 2000 as a percentage of world population in 1960.

Answers

The answer is 200%.

If we see the world population index and compare the population in 1960 and 2000, we see that population in 2000 is double than 1960. 

World population in 1960 = 3,007,751

World population in 2000 = 6,104,538 which is approximately double than 1960.

So when we express it as percentage multiply 2 with 100 and we get the percentage 200.

 

“All doctors should be men, because they are better at math and science,” is an example of a _____.

Answers

This is an example of Gender Stereotype, HOPE IT HELPED :))

“All doctors should be men, because they are better at math and science,” is an example of a gender stereotype. A stereotype is how someone views another person and classifies them into a set category.  By saying all doctors should be men because they are better at math and science, there is a stereotype against women not being good at math and science therefor they shouldn't be doctors. The gender comes into play when saying that a man is better at something over a woman.

Evidence-based policies are based on a ___________ of all available evidence that assesses what works and what doesn't.

Answers

They are based on a systematic review of the evidence that's available to them. If a policy isn't working, the theory is, it should not be enacted any more. Therefore the review is designed to screen such policies out so that better policies can be had in the future.

Why are written documents useful in setting up a government?

Answers

Written documents useful in setting up a government so they wont be stolen by online hackers of edited. Electronic documents can be hacked.

Select all that apply. Jerry's Phone Service is a monopoly. Select the items that describe the price and quantity chosen by Jerry. will result in efficient use of resources will result in equilibrium price will maximize profits will cause shortage of goods

Answers

efficient use of recources and will maximize profits 

Answer:

Monopoly will cause shortage of goods.

Explanation:

A monopoly firm produces the level of output where the marginal cost is equal to the marginal revenue. The price is higher than the marginal cost.

This level of output is smaller than a competitive firm where the output is produced where price equals marginal cost.

This creates a shortage of goods in the market. The resources are not efficiently utilized.

what is a mixed economy?

Answers

 A mixed economy is a system mixing private and public enterprises.

Answer:

Mixed economy is the economic system of the economy which contain features of both capitalist and socialist economy.

Explanation:

A mixed economy is the system of an economy that has a mix of the economy.A mixed economy is the blending of a Market and a command economy.A mixed economy market place takes care of people's needs and wants.In a mixed economy, government make rule and regulations for the market.The mixed economy is considered as the best economic system by the economist until now.  

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