False, a cultural tourist wants to preserve the cultural/traditions of the local people.
Answer:
labor
Explanation:
There are four factors of production; land, labor, capital and entrepreneurship:
- William is the entrepreneur,
- Capital accounts for the helicopters, facilities and the advertisement.
- Land in this case is the plot of land where the business will be located.
- But who will fly the helicopters and perform maintenance operations? Who will sell the tours and perform administrative tasks? William will not fly the 5 helicopters himself, perform maintenance operations and sell the tours.
Answer:
sunk cost
Explanation:
Sunk cost is cost that has already been incurred and it cannot be recovered. When making future decisions, sunk cost should not be considered.
The money i paid for the ticket is the sunk cost. I should not consider this cost when making the decision of whether to for the concert or not to
A pure-monoply means that a company does not have to compete with other producers within the market. Since they aren't competing with a good or service, they aren't competing with each others customers either. When a company does not have to compete on price/customers they may end up being greedy and have market failure.
