Answer:
A) is maximizing her total utility from the given fixed budget.
Explanation:
The equal marginal principle refers to the principle in which the consumer would select that combination of goods which maximise its total utility. It could be selected by having marginal utility and its price
And for profit maximization, the marginal utility and the price is equivalent to both the goods.
i.e
30 = 30
Hence, the correct option is a.
Answer:
The correct answer is letter "A": having proven technological expertise and an ability to churn out new and improved products on a regular basis.
Explanation:
Resources are all those components that organizations use for production. Mostly known as the factors of production they are:
- Land: <em>physical territory where the company handles its operations including its raw materials.
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- Capital: <em>monetary resources, machinery, </em><u><em>technology</em></u><em>, and buildings. Social and intellectual capital.
</em>
- Labor: <em>people performing physical and intellectual work.
</em>
- Entrepreneurship: <em>innovation to use the land, capital, and labor at its maximum level possible.</em>
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Therefore<em>, technology is a source useful for production from where companies can create other goods. Combined with expertise it could represent a competitive advantage that allows firms to outstand.</em>
Answer:
Commercial banks, required reserve, loans, deposits, create.
Explanation:
The main function of commercial banks is to accept deposits and then to lend the same money (minus required reserves) back out. Banks make a profit by charging a higher interest rate on loans than the interest rate they pay on deposits. Through the loan process, banks are actually able to create money.
The major function of commercial banks is
1. Accepting deposits from people and business organzations.
2. Giving loans to Customers to be paid at a specific period of time at an agreed interest rate.
Required reserve is the minimum amount of money which in required for a commercial Bank to hold/save out of every deposit. If the required reserve is 10% of every deposit, a customer customer deposited $100. The required will be $10 which the bank will hold. The remaining $90 is the balance which banks can loan out to Customers.
Commercial Banks make profit by charging a higher interest rate on loan and lower interest rate on deposits. For example: 7.5% interest rate on loan and 2.5% interest rate on deposits. The 5% difference is the bank Profit.
