Explain Why Business And Entrepreneurs Are More Likely To Voluntarily Undertake The Projects That Consumer Value

1) Explain why businesses and entrepreneurs are more likely to voluntarily undertake the projects that consumers value highly relative to price and less likely to undertake the government-sponsored projects in which the per-unit cost of production is above the price consumers willingly pay.

Most of the businesses and entrepreneurs are more likely to undertake the projects that consumers value highly relative to price because of many factors that will affect the profit and management of companies. When one of the companies undertake their own projects without government support or sponsor, they likely to invent or create the new ideas that suit to the customer’s taste as well as consumer’s preferences that mean they can earn long-term

If consumers need the resources for other purposes than what the good or service presented, they will not buy the product, but will buy the resources instead. A good is purchased if its price is lower than the opportunity cost that the consumer needs to pay to make the product. For example, some people buy a painting to put on their wall, but some other people buy art supplies such as paint, paintbrush, and canvas to make their own paintings that cost less and have similar qualities. Another reason for customers or consumers to buy for a good or service is that they highly value the product relative to the price. In other words, the consumers think that they will benefit from the trade, and that the product is worth more than what they have to pay for

They might also buy a new version of their shoes just because they feel emotionally attached to it as it can be a present from someone important or there is a special meaning that comes with the shoes. Another reason for buying new shoes would be because of our own comfort since not all shoes are comfortable to wear. So, in order to find a shoes that makes an individual feels comfortable to use it for both long and short time they will have to buy a new one. No one wants to wear uncomfortable shoes. One of the biggest reason people buy new shoes is that the old shoes don’t fit anymore. Their feet have gotten bigger due to growth or gotten smaller due to other circumstances such as weight loss. In addition, some people did just because they have a different purpose for it. For instance, they might want to buy a new shoe for walking or running because they don’t have one yet or for a special occasion such as a party or to fit with a certain clothing they have so we can say they is a pair of shoes for every occasion. Furthermore, price can also be one of the reasons. People tend to buy more when it is affordable with acceptable quality and especially when there is a sale or promotion or discount on compliment goods. But, some people buy shoes because they are