Supply and demand, scarcity, and economic measurement affect the legal form of business
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Create presentation or chart showing how supply and demand, scarcity, and economic measurement affect the legal form of business you chose, as well as the costs associated with your business.
Sample Solution
The supply and demand of goods and services, scarcity of resources, and economic measurement all play a major role in the costs associated with a legal business form. Supply and demand can be affected by external factors such as taxes or regulations which impact the cost to produce goods or services, as well as the prices that consumers are willing to pay for them. Scarcity of resources will affect the amount of product that is available at any given time, which can cause fluctuations in pricing depending on how scarce those products or services become. Finally, economic measurements such as inflation rate or unemployment rate have an effect on both production costs and consumer spending habits, ultimately influencing prices within certain markets.
All these elements are important considerations when choosing a legal business form since they can directly affect operational costs such as labor/materials expenses, overhead costs like rent/utilities fees , marketing expenditures like advertising campaigns , etc . Additionally, if chosen correctly , they also help organization maximize profit potential while minimizing risks posed by competition existing market conditions alike . For example if perfect balance between supply demand attained organization able charge more price point than competitors due having higher quality goods / services customers desire thus giving more incentive purchase from them instead another firm providing similar products services same area. This would result higher levels profitability since revenue generated sales outweighs expenditure incurred producing said items fees associated with running business itself .
In conclusion, these three components should taken into careful consideration when selecting legal form business due influence have operations overall resulting either reduce risk increase efficiency operations leading greater success long run whilst also remaining compliant laws regulations governing particular industry setting company up future growth success.