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A circular flow model shows the relationship between consumers and?
Firms
When relationship between the wage and the quantity of labor that all firms are willing to employ is called?
the individual labor supply
What factor characterizes the competitive relationship between firms in an oligopoly market structure?
B. interdependence: what one firm does in setting prices, determining production levels, investing in R&D, and so forth can significantly affect other firms competitive positions.
What factors influence which products firms choose to produce?
In simple terms Supply and demand
Why the government influence the growth of firms?
Governments seek to influence business to ensure that they are following regulations. If they are not, the government may fine them.
A circular flow model shows the relationship between consumers and?
Firms
What competitive environmental forces influence the firms strategy?
The competitive environmental forces influence the firms customers, rival firms, new entrants, substitutes, and supplies.
When relationship between the wage and the quantity of labor that all firms are willing to employ is called?
the individual labor supply
What is an characteristic of oligoply?
An oligopoly is characterized by a market structure where a small number of large firms dominate the industry. These firms have substantial market power which allows them to influence prices and other market outcomes. Oligopolies often involve interdependence among firms, with decisions by one firm impacting the actions of others in the market.
The short term aggregate supply curve represents the relationship between what?
The short term aggregate supply curve represents the relationship between the price level and the quantity of real GDP that firms are willing to supply in the economy. It shows the level of output that firms can produce in the short run at different price levels.
What factor characterizes the competitive relationship between firms in an oligopoly market structure?
B. interdependence: what one firm does in setting prices, determining production levels, investing in R&D, and so forth can significantly affect other firms competitive positions.
How many firms are traded on the FTSE?
There are approximately 1700 firms traded on the FTSE. The number of firms traded changes daily. New firms are added as some firms drop off the exchange.
What factors influence which products firms choose to produce?
In simple terms Supply and demand
What are the potential returns of customer relationship management?
Customer relationship management may bring about 1. Customer loyalty 2. Firms goodwill 3. Better social relationship between customer (society) and the firm 4. Timely product improvements as per customers need.
Why the government influence the growth of firms?
Governments seek to influence business to ensure that they are following regulations. If they are not, the government may fine them.
Explain the connection between householdsand firms in the economy?
The connection between households and firms in the economy stems from the fact that consumers in this case households work for firms to earn wages as the company makes profits due to increased production.
What would happen if there was an increase in the number of firms?
Pushes it out
