The body of law that governs oral and written agreements associated with the exchange of goods, services, money and property is known as <u>contract law</u>.
<h3>What is contract law?</h3>
Contract law can be defined as a set of law that governs oral and written agreements between two or more parties with respect to the buying and selling of goods, services, debt, loans, property, etc.
<h3>What is a contract?</h3>
A contract can be defined as a formally written agreement between two or more parties such as a group of people, team, etc., which primarily gives rise to a mutual legal obligation that is enforceable by law across specific jurisdiction in the world.
<h3>The types of contract.</h3>
Generally speaking, there are different types of contract in business and these include the following:
- Fixed-price contract
- Cost-plus contract
- Bilateral contract
- Implied contract
- Unilateral contract
- Adhesion contract
- Unconscionable contract
- Option contract
- Express contract
- Executory contract
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Answer:
SAS has been successful in cultivating and enhancing employees skills implementing sound human capital management practices that increase its business advantage.
Explanation:
SAS Human Capital Management allows an organization to implement sound human capital management practices that increase its business advantage.
SAS’s organizational approaches targets to ensure job satisfaction by:
- building an attractive benefits package.
- Hunting and attracting top talent for companies
- Handling interpersonal crisis among staff
Yes, other companies would be successful in adopting the "SAS approach." developing a culture that aligns employee interest with company goals.
Answer:
The correct answer is D. does not increase the amount of the product that consumers buy because it creates a shortage.
Explanation:
If a market is defined by the following demand and supply functions. The balance or price that reflects the coincidence in valuation of the good of consumers and producers, would occur at the intersection between both functions.
When the State intends to supplant market activity in the allocation of goods and services, it can do so through a policy of maximum and minimum prices.
If it is considered appropriate that a given price is less accessible than what would take place in the market, it will establish a maximum price, above which no company can sell. When this occurs, we can graphically appreciate how at that price the quantity demanded is greater than that offered, thus generating an excess of demand that leads to the shortage of the good. In this context, some mechanism will be developed that allows rationing the offer (long lines, different criteria such as age, economic level, etc.) This being, land paid for the appearance of the “black market”.
Another type of price control is the establishment of a minimum price. This system has been used frequently in agricultural markets, when the State has sought to prevent farmers' income from drastically reducing.
When a minimum price is established higher than what would take place in the market, the quantity offered exceeds the defendant, thus producing an excess supply. This excess supply will lead to an accumulation of production that will generate great inefficiency.
The industry is likely to be a monopolistic industry.
<h3>What is a monopolistic competition?</h3>
A monopolistic industry is when there are many firms selling differentiated products in an industry. A monopolistic competition has characteristics of both a monopoly and a perfect competition. There is an intense completion among firms in this industry. An example of monopolistic industry are restaurants
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