A positive impact of economic globalization is the economic integration. The world as a global village has experienced an unprecedented level of economic integration in the sense that many companies across a wide range of countries have been able to propose a variety of products to the world, which would have been very difficult or even impossible in a context of locally based or centred economy.
Answer: the doctrine of unconscionability
Explanation:
The doctrine of unconscionability is a defense that is against enforcing a contract. From the question, we are informed that Orlin bought a refrigerator, on credit, from a salesman and the salesman want him to pay 10 times the worth of the refrigerator.
In this scenario, the contract is deemed to be unfair and also oppressive to Orlin, thus he a find it unconscionable and therefore he can refuse to enforce it. Therefore, if he wants to challenge the contract’s terms, the doctrine of unconscionability will be used.
Answer:
d. at least two different markets with different price elasticities of demand
Explanation:
The theory of microeconomics about price differentiation is based on the concept of elasticity of demand. Price elasticity of demand is a measure of the sensitivity of demand for a good or service to changes in the price of that product. We say that the price elasticity of demand is elastic when a percentage change in the price of this good has major impacts on demand. On the contrary, we say that the price elasticity of demand is inelastic when variations in the price of goods have little or no influence on demand.
For price discrimination to take place, the offeror must be able to sell the same product at different prices to at least two different groups. This will depend on the price elasticity of consumer demand for the good in each of the markets. Thus, if one group is less elastic than the other, the offeror will be able to sell the goods at different prices.
An example: air market. Consumers are often more price sensitive when traveling for tourism than for business. Thus, a higher price may be charged to executives. which has lower price elasticity of demand than tourists.
C. Inflation
If you require clarification on why, feel free to comment!
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<span><span>Depreciation is a </span>sunk cost. </span></span>It is the value lost on an asset
after consumption. In accounting, depreciation cost qualifies as a sunk cost
because it is already lost and cannot be recovered. For that reason, it is
correct to ignore depreciation cost when determining the future course of a
business.
