If you don't own a home or a car, your liability is b. lower than one who owns both.
<h3>What is a Liability?</h3>
This refers to the legal state of a person who is responsible for something that is put in his care.
Hence, we can see that for a person that owns a car and house, the liability that he has is far higher than someone that does not own any of them.
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Answer:
B. To refuse a refund.
Explanation:
The primary purpose is to refuse a refund which customer demanded, the message is written in a way that the customer would understand the reason of the refusal and further, the awareness to customer is given so in future the customer doesn't buy anything without reading out warnings.
Wendy claims that the right mix of hamburgers and other goods is being produced, but that they are not being produced in the least costly way. Economist assess it in the way of allocative efficiency as well as the productive efficiency.
According to Wendy, allocative efficiency is achieved because the right mix of hamburger is produced, but at the same time productive efficiency is not achieved because the production is not utilizing cheapest possible means of producing the goods.
Allocative efficiency occurs when the consumer demand is completely met by the supply. In the other words, businesses are providing the exact supply which the consumers want.
Allocative efficiency occurs from the producers side as well as the consumers side. This happens when the demand is fully met, and production is optimized until marginal costs = marginal revenue . It means that no more profits are made.
Productive efficiency occurs when the businesses focuses on producing a good at the lowest possible cost.
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Answer:
With respect to gift giving and gift receiving, <u>a bribe</u> refers to money paid before an exchange.
Explanation:
A gift is something given to another person to show affection. In response to giving the gift, the person doesn't have any expectations.
In the business world, a gift becomes a bribe when it is given for any political or business favours. Hence, it is unethical to share gifts for this purpose in the business.
A bribe is usually given before asking for a favour. Bribe is seen as a major cause of corruption and is illegal under the law of almost every country in the world.
The court will most likely consider the parties' relative bargaining power.
<u>Option: C</u>
<u>Explanation:</u>
Bargaining power is the collective ability of groups to put control over one another in a circumstance. If all sides are in a dispute on an equivalent basis, then they would have equal bargaining power, such as in a reasonably free market, or between a monopoly and monopsony fairly balanced.
Purchaser bargaining power relates to the leverage customers may impose on businesses to get them to offer higher quality goods, improved customer satisfaction and lower costs. A powerful purchaser will make a market more profitable and diminish the seller's profit potential.
