Question

When losses occur in a competitive market, this indicates that consumers value the goods __ than resources used to produce them

Answer 1

When losses occur in a competitive market, it indicates that consumers value the goods less than the resources used to produce them.

Step-by-step explanation:

In a competitive market, when losses occur it indicates that consumers value the goods less than the resources used to produce them.

When businesses experience losses, it suggests that the cost of producing the goods exceeds the revenue generated from selling them. This could happen if the goods are not meeting consumer preferences or if there is intense competition driving prices down.

For example, if a company is producing a product but consumers are not willing to pay a price that covers the production costs, the company would face losses and might need to adjust their production or pricing strategies.