The transaction's surplus in terms of the economy $30
<h3>Which principle states that the next-best choice you must forego in order to have something is its true cost?</h3>
The idea of opportunity cost, which states that the opportunity lost as a result of a decision, determines the true cost of an economic decision, is closely tied to the principle of substitution.
<h3>What is a sunk cost, give an example, and explain why it doesn't matter when deciding what to do in the future?</h3>
Sunk costs are viewed as bygone in economic decision-making and are not taken into account when determining whether to continue an investment project. Spending $5 million to establish a plant that is expected to cost $10 million is an example of a sunk cost.
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Answer:
b. At the signing of the contract
Explanation:
A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.
Mutual assent is a legal term which represents an agreement by both parties to a contract. When two parties to a contract both have an understanding of the parameters, terms and conditions surrounding a contract, it ultimately implies that they are in agreement; this is generally referred to as mutual assent and it is at this point they (buyer and seller) sign the contract. Therefore, mutual assent connotes agreement, acceptance and consent to a contract by both parties.
<em>Hence, in most transactions, the buyer is accepting the condition of the property at the signing of the contract as an approval or consent to the terms and conditions. </em>
Answer: See explanation
Explanation:
Business activities simply refers to the activities that are done in order to provide goods and services for the consumers and also generate profit.
1. The purpose of business activity is:.
To provide goods.
2. An entrepreneur might find setting up a business rewarding as he or she is in control and that may give the person a level of satisfaction. Also, the entrepreneur makes profit which is rewarding as well.
3. Building a good brand image gives credibility to the company and also brings about customer loyalty. Customers want to be associated with good brands. This can also help drive sales and revenue.
I’m going to make this short your answer is
C. $120,100.
