business co.
SOLUTIONS OF THE WORLD
Currently, we are in a global recession which started in 2007. A recession is a decrease in economic activity which lasts a period of time. Some common indicators of a recession are noticeable through production, employment, income and etc.
The Market
For business, the outcome of a recession shows in sales and demand with a decrease in both. Customers are least willing to buy. Some businesses increase prices to keep up with expenses. However, depending on the industry every firm may have a different outcome from the recession. Such as energy firms, their services are an inelastic good; therefore, consumers will purchase energy anyway because it is a necessity. With that, customers will congregate to the firms that offer the best prices with the best value. (Jean Biri) Since energy firms are a necessity, we believe that there are ways such as going GREEN and giving rebates that energy companies like REMCs can promote to help consumers cut energy costs and help consumers save money during the Recession.
Greenficiency
EDUCATING & PROMOTING A MORE EFFICIENT ENERGY
MARKET