Goods and services are manufactured to satisfy the needs of potential consumers (the demand-side of the market). The different decisions made by the producers (the supply-side of the market), to define how to undertake the manufacturing process, are the following:
- To produce items at a lower cost or higher quality ways to make the biggest profit. There are two ways of becoming the most attractive supplier to consumers in a market: either offering goods at the lowest cost or, even tough the goods are a bit expensive, making consumers appreciate them because of their outstanding quality.
- Methods traditionally used to make a good. Of course the producer needs to consider the production methods available, traditional ones, and also innovative, as this latter ones will allow him to differentiate his output from the one of his competitors (by obtaining products with either best prices or best quality).
C.
D.
I study this And believe in it Trust me this is right
