Airplanes changed the way the world does business by decreasing the cost of long-distance travel and improving the speed with which it may be completed. This is further explained below.
<h3>What are
Airplanes?</h3>
Generally, is simply defined as an airplane, a motorized aircraft with fixed wings that displaces more air than it weighs.
In conclusion, new trade and employment possibilities can be accessed with little disruption to existing business operations.
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Answer: Submit it to arbitration.
Explanation:
The court will submit the case to arbitration making the lawsuit pending till the outcome of arbitration.
Answer:
1. Private ownership of factors of production
2. Freedom to engage in commercial activities
Explanation:
<u>1. Private ownership of factors of production</u>
In the US, individuals and firms are allowed to own properties. A significant percentage of the factors of production are in the hands of the private sector. Firms and individual influences the production of goods and services because they allocate resources to meet market demand.
<u>2. Freedom to engage in commercial activities</u>
Entrepreneurs have the freedom to choose the type of business they want to start. They can also select the location and the time they want to operate. There are no upper limits to firms that can participate in the market. Consumers are free to choose their suppliers. The market presents a variety of goods and services to consumers to pick from.
<span> The term budget constraint denotes the consumption limitation because of a certain income.</span><span>
The slope of the budget constraint is determined by the relative price of the two goods, which is calculated by taking the price of one good and dividing it by the price of the other good.
</span><span>The concept of budget constraint is used to analyze consumer choices. </span>
