Why does the free enterprise system tend to keep the quality of the products high?
A)The government regulates the product to ensure that the quality remains high. Control of the price ensures that it remains reasonable.
B)Producers will be motivated to decrease profit by increasing quality.
C)Producers will be motivated to decrease costs by increasing quality.
D)Producers will be motivated to improve quality to differentiate their product in the market.
5 answers
did u do this whole test?
i need help in my economics class! like portfolios indeed
1. Profit is the financial gain resulting from an exchange
2. Voluntary exchange is where buyers and sellers willingly choose to participate in transactions and both parties receive a net benefit
3. Open opportunity occurs when consumers and producers can choose to compete in any marketplace
4. Producers must meet customer expectations for the price or be forced out of the market by competition because of the open opportunity
5. Producers will be motivate to improve quality to differentiate their product in the market
ฅ^•ﻌ•^ฅ
2. Voluntary exchange is where buyers and sellers willingly choose to participate in transactions and both parties receive a net benefit
3. Open opportunity occurs when consumers and producers can choose to compete in any marketplace
4. Producers must meet customer expectations for the price or be forced out of the market by competition because of the open opportunity
5. Producers will be motivate to improve quality to differentiate their product in the market
ฅ^•ﻌ•^ฅ
Chloe is 100% right!!!!!
Just took the test made a 100
1 answer