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Mekhanik [1.2K]
2 years ago
14

Define specialization and, with an example, show how specialization and voluntary exchange benefit both buyers and sellers in th

e economy.
Business
1 answer:
ki77a [65]2 years ago
7 0
Specialization can be defined as the area of expertise entrepreneurs focus on when they decide what business to put up to. For example, an entrepreneur could make a textile industry business. So, buyers would expect that they have high quality products that are made from good raw materials and skilled workers. During voluntary exchange, the buyer and seller would make a transaction. If the buyer is contented with the product, and the seller receives the agreed price, then it would benefit them both.
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It should be Joe and ISADORA and it should be ISADORA 37 and Joe 48
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Decisions today are becoming _____ complex, due to _____ uncertainty in the decision environment. Question 25 options: 1) less,
denis-greek [22]

The answer is option 4 more and increased.

Explanation:

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3 years ago
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Answer:

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Explanation:

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2 years ago
Read the following except from a warranty. What time period is this warranty for? "This warranty is given by XYZ motors. The Zoo
ArbitrLikvidat [17]

Answer:

The warranty period is for three years.

Explanation:

A warranty is a promise a buyer receives from the seller that the latter will repair or replace the product should it develop defects within a stated period. Warranties are granted with specific conditions. The universal condition is that the defects in the product are a result of the manufacturing process and not the buyers' misuse. The defect must occur within a stated period.

In the case of XYZ, the stated period is three years. However, the seller has introduced another condition of "or 30,000 miles whichever comes first." For business reasons, and from market experience, the seller expects that XYZ will use the vehicle at an average rate of 10,000 miles per year. At this rate, the warranty will last for three years. Should the buyer use the vehicle at a faster rate than this, the 30,000 miles will be exhausted earlier, which will bring the warranty to an end. If XYZ uses the vehicle at a slower or the expected rate, the warranty will last for three years.

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29. Fiona has initiated a project to establish a company website for interactive electronic commerce that encourages customers t
vichka [17]

Answer:

D) Relationship marketing

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By initiating a project to build a website and encouraging customers to provide certain information to the company, Fiona plans to use the Internet for "relationship marketing".

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2 years ago
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