3. the following facts characterize the furniture industry in the

 

 

3. The following facts characterize the furniture

industry in the United States:39

a. The industry has been very fragmented, so that

few companies have the financial backing to

make heavy investments in new technology and

equipment.

b. In 1998, only three U.S. furniture manufacturers

had annual sales exceeding $1 billion. These

firms accounted for only 20 percent of the market

share, with the remainder split among 1,000

other manufacturers.

c. Capital spending at one manufacturer,

Furniture Brands, was only 2.2 percent of

sales compared with 6.6 percent at Ford

Motor Company. Outdated, labor-intensive

production techniques were still being used

by many firms.

d. Furniture manufacturing involves a huge number

of options to satisfy consumer preferences,

but this extensive set of choices slows production

and raises costs.

e. Small competitors can enter the industry because

large manufacturers have not built up

any overwhelming advantage in efficiency.

f. The American Furniture Manufacturers

Association has prepared a public relations

campaign to “encourage consumers to part

with more of their disposable income on

furniture.”

g. In fall 2003, a group of 28 U.S. furniture manufacturers

asked the U.S. government to impose

antidumping trade duties on Chinese-made bedroom

furniture, alleging unfair pricing.

h. The globalization of the furniture industry

since the 1980s has resulted from technological

innovations, governmental implementation

of economic development strategies

and regulatory regimes that favor global investment

and trade, and the emergence of

furniture manufacturers and retailers with

a capacity to develop global production and

distribution networks. The development of

global production networks using Chinese

subcontractors has accelerated globalization

in recent years.

Discuss how these facts are consistent with the

model of perfect competition.

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more