Please help I'm stuck on this?! It was due 3 days ago
Is gross profit or net profit more important to consider when you're deciding how successful and profitable a company is? Why? Explain. (1-3 sentences. 2.0 points)
Choose a well-known company that you know of, and describe its direct and indirect competitors. Describe at least 2 direct competitors and 2 indirect competitors. (2-4 sentences. 3.0 points)
Describe at least 3 nonprice competition strategies a company could use to convince customers that its product is better than other similar products. Why would those strategies matter to customers? (3-6 sentences. 3.0 points)
Describe a nonprice competition strategy that you have seen a company use. Do you think this strategy was effective? Why or why not? (3-6 sentences. 3.0 points)
If all other factors are equal, what is likely to happen to the supply of a product if the price goes up? Why? Explain. (3-6 sentences. 3.0 points)
If all other factors are equal, what is likely to happen to the demand for a product if the price goes down? Why? Explain. (3-6 sentences. 3.0 points)
Describe a real or made up but possible example of a product that went through a time of scarcity. What was likely to happen to the price of the product when it was scarce, and why? (2-6 sentences. 3.0 points)
List at least three examples of capital as a factor of production, and explain how it is different from land. (3-6 sentences. 3.0 points)
How are industrial goods different from consumer goods? Explain. (2-4 sentences. 2.0 points)
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