Examlex

Solved

Competition Among Businesses Has Never Been Greater

question 135

Essay

Competition among businesses has never been greater. Identify and describe two ways that businesses can become more competitive.


Definitions:

Saving

The portion of income not spent on current expenditures or consumables, often put aside for future use or investments.

Opportunity Cost

The penalty of bypassing the alternative that ranks second in preference while making a choice.

Investment

The process of distributing funds with the aim of earning returns or profits.

Aggregate Expenditure Line

A graphical representation that shows the total amount of spending in an economy (consumption, investment, government spending, and net exports) at various levels of income.

Related Questions