A shopping mall has one kiosk that sells baseball caps. The kiosk charges $14.99 for a cap. Then an identical new kiosk opens nearby that also sells baseball caps. This kiosk charges $9.99 for a baseball cap. On what basis are the two kiosks mostly competing?
service
advertising
price
design
Price?
Which of the following is not an example of a way in which sellers use non-price competition?
a clearance sale
advertisements with celebrities
employee customer service training
retail store renovations
A clearance sale?
Greater competition among sellers usually leads to _____________
lower prices and fewer choices for buyers.
lower prices and more choices for buyers.
higher prices and fewer choices for buyers.
higher prices and more choices for buyers.
Lower prices and more choices for buyers?
I agree with your answers.
1.D
2.B
3.D
4.B
5.D
I hope these answers help you :)
Thank you I got 100%
1.D
2.B
3.D
4.C
5.A
Sorry these are the aright answers
Yes, you are correct! The two kiosks selling baseball caps are mostly competing on the basis of price. The first kiosk charges $14.99 for a cap, while the identical new kiosk charges $9.99 for the same product. By offering a lower price, the new kiosk is attempting to attract customers away from the original kiosk.
For the second question, you are also correct. A clearance sale is not an example of a way in which sellers use non-price competition. Non-price competition refers to strategies that sellers use to differentiate themselves from their competitors, without focusing on the price of the product. Examples of non-price competition include advertisements with celebrities, employee customer service training, and retail store renovations. However, a clearance sale is a pricing strategy aimed at reducing inventory and attracting buyers through lower prices.
Lastly, you are right again. Greater competition among sellers usually leads to lower prices and more choices for buyers. When sellers compete against each other, they may lower their prices in order to attract more customers. Additionally, to differentiate themselves from competitors and attract buyers, sellers may also offer a wider range of choices and options for the buyers.