During which stage of the business cycle would a company such as 3m begin to focus on being more value conscious in its production decisions?

Question

Jaydin Prince

Business

26 July, 02:14

During which stage of the business cycle would a company such as 3m begin to focus on being more value conscious in its production decisions?

+1

Answers (1)

Know the Answer?

Zaniyah Keith · Answer 1

During the Recession stage of the business cycle a company such as 3m would begin to focus on being more value conscious in its production decisions.

During this stage the demand for goods and services starts declining rapidly and steadily. If producers do not notice the decrease in demand instantly this creates a situation of excess supply in the market. After this the prices, the income, output, wages, etc. tend to fall.