Indifference curves show a combination of two goods that provide equal satisfaction to a consumer. They have the following characteristics: They are downward sloping to the right. This clearly indicates that they have a negative slope. This means that when more units of one good in the combination are consumed, less units of the other will be consumed. This occurs only if the level of satisfaction is to remain the same on an indifference curve.
UAE, being relatively smaller than Japan, will have fewer distribution stores and facilities and thereby this also lowers the receiving cost. The facilities should be located close to the customers since this increases responsiveness. The information system is set up to allow store managers to place orders based on evaluation of consumption statistics. The key point to emphasize here is that most decisions made by 7-Eleven are structured to aggregate transportation and receiving to make both cheaper. As for inventory management, high levels of inventory are required for fast moving products.
Since the product is perceived as identical regardless of the seller, no one is willing to charge higher than the other. For that reason, a flat demand curve is realized when two companies sell the same product or service (Feng, Jiang, & Liu,2018). Hence, the equilibrium price will remain constant but, equilibrium quantity will change. In the fourth scenario, when the customers expect the price of the product or service to fall, the demand will be greater than the supply. More often than not, the customers expect the prices to fall, thus attracted more demand.
Normal goods are any goods for which an increase in income usually leads to an increase in demand and vice versa , but price of the goods remain unchanged. While inferior goods are some goods exist for which rising or falling income leads to reduced or increased demand. Luxury goods are products which are not necessary but tend to make life more pleasant for the consumer. It is typically more costly and are often bought by individuals that have a higher disposable income or greater accumulated wealth than the average. Elizabeth Arden CO series are categorized in normal goods.
If floccules sediment they trap solvent and are easier to re-suspend than if the particles settle into a tighter aggregate without the trapped solvent. However, the large fluffy clumps that characterize a flocculated system settle
Due to lighter weight polymer insulator imposes less load to the supporting structure. Less cleaning is required due to hydrophobic nature of the insulator. This will be basically because composite insulators are nowadays drawing in too many customers , understandably - because of the low price. Also our installation cost and cost on manual labours will reduce . Once , we create a brand image and once we start steadily moving with flow , we are sure to gain a lot of profit out of the newly formed business.
Packing Cost -Compared to other modes of transport, the process of packing in motor transport is less complicated. Goods transported by motor transport require less packing or no packing in most cases. 8. Rapid Speed - If the goods are to be sent immediately or quickly, motor transport is more suited than the railways or water transport. Water transport is very slow.
They suggested that, an important aspect of contractual arrangements is the ability to accommodate adaptation, thus creating a trade-off between transaction costs that are due to change and incentives to reduce costs. They indicated that in some situations, fixed price contracts provide the strong incentives for cost reduction. In other situations, where the design is left incomplete, then the cost of renegotiating fixed price contracts is high. They also suggested that when cost plus contracts are used, the cost-reducing incentives disappear; but the process of adaptation is far smoother because the reimbursement process is simple, well defined, and leaves little room for haggling. They supported their argument with evidence from procurement contracts in private construction, defence, and software acquisition; which they argued, are consistent with the results of their
Pro’s: They can often operate more cheaply than formal banks and therefore provide the loans under better conditions. This acts to support economic growth. Normal bank loans are much safer, but that makes them also more expensive. Lower yields and higher fees. Because they are not subject to heavy regulation they can also offer services that banks are not able or are not willing to.