CBSE Class 10 Answered
What are the ways in which Ravi's production unit was affected by raising conpetition
Asked by supriyadubey8507 | 13 Jul, 2020, 12:06: PM
Expert Answer
Due to the rising competition, following was the impact on Ravi's small production unit:
1. Earlier Ravi had 20 workers, however with the removal of trade barriers and increased competition, he had to cut his labour cost and now only seven workers are employed in his production unit.
2. His main clients now preffered to import capacitors as the price of the imported item was half the price charged by people like Ravi.
3. His level of production declined, Ravi now produces less than half the capacitors that he used to produce before the removal of trade barriers.
Answered by Christina | 13 Jul, 2020, 02:35: PM
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