Answer:
D. Assigning property rights to individuals
Explanation:
Tragedy of Commons refers to over exploitation of Common Pool resources : which are Non Excludable (can't be feasibly prevented to be consumed by non paying consumers) , Rivalrous (its consumption reduces its availability to be consumed by other consumers) . Eg : Grazing Land , Fishing Pond
It can be reduced by : Government Intervention or Private Property Rights . Government intervention (not Subsidy) can be rather about legislation & laws , regulatory mechanisms about monitoring the usage of such resources. Private ownership can solve this by adding the element of excludability element to such resources , channelising its utilisation only for efficient purposes , not for wastage .
Answer:
B. Reduced competitive pressure by foreign firms on the domestic producers
Explanation:
An import tariff is a protectionist measure that enables domestic producers to keep a major share of the national market and lower the competition with imports.
A consumer purchased a winter coat because the inside lining was made of a soft material. One type of benefit that was purchased was sensory benefit.
While purchasing a winter coat the consumer saw the quality of the product and whether this product matched his preferences. So the customer touches the material of winter coat to check its softness and then purchased the product. Thus, this refers to the sensory benefit.
Marketers use the method of sensory benefit in order to promote their products in such a way that they appeal to the emotions of buyers. So it becomes more of an emotional response rather than a need born of necessity.
Hence, the answer is given and explained above.
To learn more about sensory benefit here:
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Answer:
Quasi contract
Explanation:
A Quasi contract refers to an agreement between two parties who owed no past obligation to one another. It is a kind of a fictional contract which the law recognizes.
The characteristic feature of a quasi contract is that obligation is not created by any of the parties but by law. Such a contract does not exist out of agreement but by the operation of the law.
The objective behind imposition of such a contract by the law is to ensure fairness and justness to a party.
In the given case, Ann out of mistake, mowed Donna's lawn. Ann acted in good faith as she wasn't aware at the time of performing her duty but Donna was fully aware and let the act of mowing done to her own advantage. Later when Ann realized and asked for payment, Donna refused.
In this case, the party who acted in good faith would be at a loss if the law does not intervene and impose a contractual obligation on Donna to pay Ann for her work. The contract imposed by law in such a case under which Ann would recover her payment would be termed as a Quasi Contract.
<span>Which responsibility centers generate both revenues and costs? Investment and profit centers. An investment center is set up and used for business within an enterprise, an investment center should be measure against how it uses capital. Profits centers are measured against the raw costs or profits made. </span>