What reduction of cost of production does to business

[Bisolami]

The reduction in the quality of goods and services should not be encouraged because it will make the business to dwindle.

Post automatically merged: Mar 8, 2023

The reduction in the quality of goods and services should not be encouraged because it will make the business to dwindle.

We know how things are expensive but it will not be nice fit us to buy goods that are not good. They can still make quality products.

 

[Shavkat]

when production cost decreases, the price drops and more people can afford the product, thus sales will skyrocket.

I agree with you. The more it reduces its cost, the more the products will be in demand. Although the price will not be steady forever, it usually still affects with the country's economy.

 

[Bisolami]

I agree with you. The more it reduces its cost, the more the products will be in demand. Although the price will not be steady forever, it usually still affects with the country's economy.

The price will surely be fluctuating and there is high tendencies that the price will go up

 

[eldavis]

The truth of the matter is that business owners are simply looking for ways to reduce the cost of productions to gain more. If there is a way you can reduce cost without it affecting the quality, this is the best thing to do. You can do this by looking for places to buy your materials for a cheaper price.

 

[Shavkat]

The price will surely be fluctuating and there is high tendencies that the price will go up

A good economist can anticipate or forecast the prices of these commodities. However, I doubt that they can do it accurately. There is still a room of committing mistakes along the process.

 

[Yohanna]

When there is reduction in the cost of production there is going to be a lesser cost of the items that is to be sold.

 

[Shavkat]

When there is reduction in the cost of production there is going to be a lesser cost of the items that is to be sold.

You have a point. It is also the other way around if the demand increases, the prices will increase. It corresponds to a country's economy. At present, we can still experience the fluctuating of commodities prices' due to the aftermath of coronavirus.