Answer: D) derived
Explanation:
Derived demand refers to a situation where the demand for a good or service is as a result of the demand in another good or service. For example, if the demand for mobile phones increases, the demand for lithium batteries will increase as well.
In the example, Partac Peat clay demand increases as a result of an increase in the demand for tennis playing therefore it is a derived demand based on the demand for the tennis.
Answer:
A. elective surgery due to its lower marginal utility per dollar of expenditure.
Explanation:
As there is non essential elective surgeries, as from government's point of view since it is non essential that is not required and not utilized by major citizens of the country, and since there is requirement of budget cut-down. The government shall remove elective surgery.
as the amount of expenditure involved in these surgeries is also high and the resulting utility for each surgery is really low, it shall be removed.
Answer:B. Instead of requesting Oak and Beach wood grown specifically on Hardwood's Land Taylor request shipment of Oak and Beach wood from Hardwood, and specifies in the contract that if Hardwood cannot supply the wood then Hardwood should obtain the requested wood from another Lumber supplier.
C. After the Tornadoes Hardwood and Taylor agreed to a novation where a competing company, Oakempire assumes the duty of Hardwood stated in the original contract.
Explanation:
As regards B option of the answer, Taylor having put a clause in the contract requesting Hardwood to seek supply from another Lumber supplier if unable to meet the demand will make the contract binding on Hardwood
The entry into a novation with Oakempire after the Tornadoes makes the contract binding on Oakempire to deliver as stated in the contract for he has legally assumed the position of Hardwood.
The A and C options of the answer are still cases of contract frustration i.e the loss is beyond the control of the contracting parties , it's an act of God and insurer does not cover such. The first frustration is from new legislation and second is by natural disaster.
Answer:
The manager for what ever business there in should reach sufficient standards for the clients and to make clients feel good and there actually getting something good out of He/Hers Company.
Explanation:
If the person completing the project activity will be repeating the activity later in the project, the effect of learning curves should be considered when estimating duration for future repetitions of the activity.
Option B
<u>Explanation:</u>
Duration is the total time required to complete or finish a project or work. It can be of days, hours, weeks or even months. It depends on the capacity and availability of all the required resources.
Effort is the total number of people hours that is needed to complete a task, i.e. it's the actual time that is spent on working on the project.
The effect of learning curves must be considered when estimating the future durations.