That would be an example of traditional economy.
Answer:
substitution effect The supply curve slopes upward because at a higher price, producers have an incentive to produce more.
Explanation: Google
Which of these investments is not a function of the production department: wage increases.
<h3>Does wage increase with productivity?</h3>
- They discover that for average remuneration, a one percentage point increase in productivity growth corresponds to a 0.74 percentage point rise in compensation growth. Similar to median compensation, their estimate deviates from one by a statistically significant amount but not from zero.
- Prices increase when salaries grow faster than labor productivity while prices decrease when wages grow slower than productivity.
- Inflation is brought on by wage increases since doing business becomes more expensive as wages rise. Companies must raise the prices for their products and services to offset the cost increase and keep their profitability at the same level.
- Five tons of labor are produced per hour. Physical productivity growth drives up the value of labor, which in turn drives up to pay.
Which of these investments is not a function of the production department: wage increases.
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Answer:
The answer is A.
Explanation:
Differential pricing is the process of charging different prices for the same product to different customers.
The main aim for employing this strategy is to maximize profit.
Differential pricing strategy can be base on:
Time pricing (for example if the product is seasonal)
Location pricing(for example, the price of a product at a supermarket might be different from a home retailer)
Customer segment pricing
