Final answer:
In response to changes in market conditions, Maria should consider expanding or reducing production, setting prices, opening or closing facilities, hiring or laying off workers, and selling new or existing products.
Step-by-step explanation:
In response to changes in market conditions, Maria should consider the following actions:
- Expand or reduce production: If the demand for Toyota vehicles increases, Maria should expand production by increasing the number of units produced. On the other hand, if the demand decreases, she should reduce production to avoid excess inventory.
- Set the price: Maria should analyze the market conditions and competitors' prices to set a competitive price for Toyota vehicles.
- Open or close facilities: If there is a high demand for Toyota vehicles, Maria may consider opening new factories or sales facilities to meet the increased demand. Conversely, if the demand is low, she may need to close some facilities.
- Hire or lay off workers: Maria should adjust the workforce size based on the production requirements. If production needs to be scaled up, she may need to hire additional workers. If production needs to be scaled down, some workers may need to be laid off.
- Sell new products or stop selling existing ones: Maria should evaluate market trends and customer preferences to determine if introducing new products or discontinuing existing ones aligns with the market demand.