Characterize the Four Broad Strategies Often Employed by Market Followers

question 78

Essay

Characterize the four broad strategies often employed by market followers to meet their competitors.

---

Definitions:

Economies of Scale

Cost advantages achieved when increasing production leads to lower fixed costs per unit.

Restrictive Health

Policies or practices designed to restrict or control the availability of medical treatments, procedures, or resources, often for regulatory or budgetary reasons.

Export Subsidies

financial support from governments to domestic companies for the purpose of promoting goods for export, aimed at increasing competitive advantage on the global stage.

Free Trade Agreement

A pact between two or more nations to reduce barriers to imports and exports among them by eliminating tariffs and import quotas.