When output increases, the PPC (Production Possibility Curve) of the economy moves right, indicating growth in the economy. The Production Possibility Curve shows a country's ability to produce its goods at the most efficient point. The curve occurs in the upper right side of the graph. The upper right side of the graph shows an increasing in the production efficient level. Therefore<span>, it shows a growth and an output increase of a country.</span>
Answer:
A partnership agreement is binding even if it is not in writing
Explanation:
A partnership is a relationship that exist between two or more people (Usually two to twenty people) to pool their resources and capital together and establish a business enterprise with the aim of making profit.
A partnership agreement can be written on unwritten. Even when unwritten, a partnership agreement is binding and is enforceable in the law court.
A written partnership agreement is called a partnership deed. partners are usually encouraged to have a partnership deed that clarifies the respective positions and duties of each partners.
Answer:
The GDP will increased by 33.33% in 2015
Explanation:
2014 GDP 10,000
population 10
GDP per capital 10,000 / 10 = 1,000
Then, 2015 GDP 20,000
population: 10 + 50% = 15
GDP per capita : 20,000 / 15 = 1.333,33
percentage increase of the GDP per capita:
1,333.33 / 1,000 - 1 = 0.33333 = 33.33%
Answer:
Tina's Tunes is likely to fail because it is ignoring the technological environment.
Explanation:
Technological Environment Technological change can have impact on the decisions taken by business.
Technological change can involve:
– New process of production: new ways of doing things which rises productivity of factor inputs, as with use of robotics in car assembly techniques which has dramatically raised output per assembly line worker. For example around 80% of technological change has been process innovation.
– New products: For example, online banking and many new financial services are direct result of advances in micro processor based technologies.
A firm, which is unable to cope with the technological changes, may not survive.
Answer: Given, the ball bearing market is purely competitive. Also at the current stage the firms in this market are earning positive economic profits.
Therefore , in the long run as adjustments occur in the industry, we can expect the market price of ball bearings to<em><u> </u></em><u><em>decrease and individual firms' profits to decrease.</em></u>
This will take place as new firms will enter the market once they analyze that the existing firms are earning positive economic profits. Thus this will lead to decrease in price of ball bearing and further will lead to decrease in profit os a firm.
<u><em></em></u>
<u><em>Therefore, the correct option is (d)</em></u>
