Answer: Partnership
A partnership is a from of business ownership who come together with mutual consent in order to manage the business and share its profits.
The terms and conditions of this agreement and the quantum of profit for each partner is clearly stated in a document called the partnership agreement.
All the partners who actively manage the business and share the profits are called General Partners. The general partners are jointly and severally liable for the debts incurred by the partnership.
Answer: reciprocity
Explanation: In simple words, reciprocity refers to the agreement in which two parties exchange goods or services in such a way that both of them will gain benefit from such agreement.
In business it can achieved in many ways, for example by combining the efforts and resources or by providing each other some service in exchange for service from the other side.
In the given case, Jason made a deal with dodge to provide service to him in exchange for service by him. Hence we can conclude that the given case depicts reciprocity.
<u>Answer:</u> Option C
<u>Explanation:</u>
International expansion is a strategy where the organizations enter into global markets for the benefit of making quick profits and business development in new segments. Omega Inc can fix higher prices when their products provide a greater value to the customers in that foreign market.
In the other given situations the company cannot fix a higher price for the fitness products in foreign market. Other situations given are easily available products, low expected sales volume and low price of the competitors.
<u>Solution and Explanation:</u>
The implicit cost of capital
Implicit cost of capital is the opportunity cost of capital which is already incurred but not reported as a separate cost/expense, Implicit cost is the cost which results from using an existing asset instead of selling or renting it.
For example when a businessman uses his/her existing land which has implicit cost of say $1000 per month but bought it for say $100 many years ago, so $1000 is its implicit cost/current market rent per month which is equal to its oppo