Explain the difference between price-takers and price-setters
What will be an ideal response
A company is a price-taker when it has little control over the prices of its products and services because they are not unique or competition is intense. A company is a price-setter when it has control over the prices of its products and services because they are unique and there is little competition.
Business
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Writers of option contracts
A) have a limited liability specified in the contract. B) hope to exercise the option on favorable terms. C) earn a commission no matter what subsequently happens to the contract. D) earn a profit when the option expires without being exercised.
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The definition of leadership effectiveness depends on the organization and the context
a. true b. false
Business