Productivity is key factor in the cost of goods and services

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1. Think of an activity or hobby you enjoy. Identify all costs associated with your hobby. Identify which costs are relevant and which are not relevant pertaining to whether or not you should continue with your hobby. Be sure to support your reasoning. Your scenarios should be different from one another. State your hobby as your thread title.

2. Productivity is a key factor in the cost of goods and services. Increases in productivity can become a competitive advantage. Select two retailers (e.g., Sony or Samsung) or a certain product (e.g., televisions) and state different ways they compete. Discuss ways a company can gain a competitive advantage by having higher productivity than its competitors have. Add how monopolies compare and give real-life examples.

Reference no: EM132296078

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