Reread the management focus on procter & gamble, and then answer the following questions: a. what strategy was procter & gamble pursu- ing when it first entered foreign markets? why do you think this strategy became less viable later on? b. what strategy does p& g appear to be mov- ing toward? what are the benefits of this strategy? what are the potential risks associ- ated with it? c. to what do you attribute p& g's recent sales decline?

answer decisions made by individual households and firms;

answerthe united states of america;

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.