a. resources can be moved where they're needed-------trade
Trade includes the exchange of products or administrations starting with one individual or substance then onto the next, regularly in return for cash. A system that permits exchange is known as a market.
Trade is a fundamental financial idea including the purchasing and offering of products and ventures, with remuneration paid by a purchaser to a dealer, or the trading of merchandise or administrations between parties.
b. workers have an incentive to improve their skills-------competition
Competition is the basic driver of execution and advancement. It benefits everybody by empowering us to browse a variety of fantastic items at reasonable costs. Competition additionally supports the selection of advancement as organizations develop and new thoughts prosper in the commercial center.
Customers remain to pick up the most from more prominent competition in the data innovation (IT) advertise. Reasonable and open competition implies bring down costs and more noteworthy decision.
c. wasted movements are eliminated-------------specialization
Specialization is a strategy for generation whereby a substance centers around the creation of a restricted extent of products to pick up a more prominent level of proficiency. Numerous nations, for instance, represent considerable authority in delivering the products and ventures that are local to their piece of the world, and they exchange for different merchandise and enterprises. This specialization is, subsequently, the premise of worldwide exchange, as couple of nations have enough generation ability to be totally self-maintaining.
Answer:
a. Landscaping company owners who attend the meeting have formed a cartel.
b. Hot dog vendors in this city are colluding with one another but not as part of a cartel.
c. The east side bakery owners are acting competitively by avoiding a poor business decision.
d. L.M. Nutz and Go Go Nuts are acting competitively, entering the other company's market will likely start an unprofitable price war.
Explanation:
Competitive Behaviors:
Cartel: A cartel is an organization of many independent suppliers who agree to set minimum prices for their products and services for the purpose of reducing competition.
Collusion occurs when some organizations stick to some informally-established prices for their products and services without actually formalizing their agreements, unlike a cartel.
Competition enable organizations to outperform one another with low prices and other competitive measures.
Answer:
b.
The store is not liable to Nelson.
Explanation:
These are options for the question
.
The store is strictly liable to Nelson.
b.
The store is not liable to Nelson.
c.
Res ipsa loquitur would require the store to be held liable.
d.
The store has no duty to Nelson.
From the question, we are informed about the local supermarket which has a large, glass front door which is well lighted and plainly visible. Nelson, who is new in the neighborhood, mistook the glass for an open doorway and walked into it, shattering the door and injuring himself.
Under the Second Restatement, the store is not liable to Nelson. Second Restatement are legal treatises that pronounce some rules as far as law is concerned.it inform judges about general principle, therefore, under this second Restatement the store is not liable to Nelson in anyway even though he sustained some injury from the store.
Joint venture-<span>a unique business organized by two or more other businesses to operate for a limited time and for a specific project</span>
Answer:
Explanation:
Accounts payable is included in the current liability according to international financial reporting standards (IFRS). Although the construction loan was actually payable at year-end, if the company has both the willingness and ability to refinance with long-term debt, the $100,000 construction loan may be included at year-end in long-term liabilities. Therefore, current liabilities of $30,000 and long-term liabilities of $100,000 should be reported on the balance sheet.
The extracts of the statement of financial positions are given below:
Non-current liabilities:
Refinanced loan $100,000
Current liabilities:
Accounts payable $ 30,000
