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Mekhanik [1.2K]
3 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]3 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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Retepson, Inc. has been in business for over 50 years. Retepson is best known for its Guide to Colleges line of books designed f
Elina [12.6K]

Answer:

a) Anyone with Internet access can find any of the information included in the Guide to Colleges series.

Explanation:

when we say innovation what we mean is a new idea, a new method, or a new way of doing things.

option A is the answer because using the internet to search for information is a form of innovation that has would bring about immense amount of changes from the former way of doing things. the internet itself is an innovative medium and it serves different purposes.

if anyone with internet can easily access information, then such an innovative ideas should be emphasized

3 0
3 years ago
Name 5 offices or department in a business ​
Verizon [17]

Answer:

human resource , production office , finance & marketing , & purchasing

Explanation:

There are five main functional areas of management viz., human resource, production office, finance and marketingthe emphasis is given on achieving the target in minimum time. By the nature, only one thing time is allotted equally to every creature as 24 hours in a day. 

7 0
3 years ago
Most businesses in the united states are concidered what type of entity
Vesna [10]

Answer:

A sole proprietorship

Explanation:

5 0
2 years ago
XCEL Corporation paid a dividend yesterday for $1.50. They expect to pay dividends annually at a constant 6 percent annual growt
serious [3.7K]

Answer:

$26.50

Explanation:

The computation of the current value of the common stock is shown below:

Current price is

= Current year dividend ÷ (Required rate of return - Growth rate)

where

Current year dividend is $1.59

The Required rate of return is 12%

ANd, the growth rate is 6%

Now place these values to the above formula

So, the current price of the common stock is

= ($1.50 × 1.06) ÷ (0.12 - 0.06)  

= $1.59 ÷ 0.06

= $26.50

6 0
3 years ago
Ben's Bookstore buys $500 worth of books on credit to sell in its retail store. When Ben records this transaction, how should he
shusha [124]

Based on the fact that the books were bought on credit, to sell at Ben's Bookstore, the $500 should be listed separately as assets and liabilites.

<h3>How should Ben list the $500?
</h3>

The $500 is a liability because Ben acquired the books on credit which means the store owes the supplies for them.

The $500 is also an asset however because it represents stock in the business which makes it a current asset.

Find out more on recording liabilities at brainly.com/question/25687338.

6 0
1 year ago
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