Answer: EFFICIENT
Explanation: Production possibility Curve or frontiers is a graphical representation of the combination of two goods to give an efficient output or outcome considering the prevailing market conditions.
Production possibility Curve is used by business managers to determine which product combination can a business organization derive maximum or efficient benefits. A point in the curve of the production possibility Curve represents/ shows a combination of goods that is efficient considering the prevailing market conditions.
Answer:
The correct answer is letter "B": Increased price elasticity of demand for the DVD player industry because XBOX are substitutes.
Explanation:
Price elasticity of demand reflects the changes in quantity demanded for a good or service as a result of changes in price. It is calculated by dividing the percentage change in quantity demanded by the percentage change in price. If the result is equal to or greater than one (1) the demand is elastic.<em> It means a minimum change in price has a major impact on the quantity demanded volume.
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Thus, <em>if XBOX implements DVD features, DVD players will face an increase in their price elasticity of demand because changing DVD players' prices could change their quantity demanded by far because consumers will prefer purchasing an XBOX which is a substitute.</em>
Answer:
A. No, because Ahmed is not a merchant.
Explanation:
Implied warranty of merchantability is a law in contract which states that when there is a transaction between a seller (the merchant), and a buyer, there is an unwritten guarantee from the seller, that the product meets up to the ordinary standards of care. This means that the goods must be fit to do what the merchant says it will do. Therefore, if the seller finds it defective, he could return it to the seller. and if the seller refuses to make a change, a legal case could be established. The merchant by law is a wholesaler or retailer, who sells goods in which he has expertise or special skills.
Ahmed in the question could be argued in court to not be a merchant of cars and as such, has no expertise with which he can make a guarantee for the car being sold to Carlos.
Answer:
used to identify major stockholders
Explanation:
Environmental scanning is a management strategy that focuses on systematically acquiring informations about occasions, trends, events or patterns through surveys and analysis of these information in an organisation's external and internal environment. The informations acquired through environmental scanning is then used by the executive management in strategically planning the organisation's future and exploitation of available opportunities for the success of the organization.
The internal environmental scanning offers an organization strength and weakness while the external environmental scanning provides information about opportunities and threats.
Generally, the external environmental scanning gives an overview of the opportunities in the market as well as potential threats to an organization.
Hence, the following are descriptive of an external environmental scanning;
1. Used as a tool for corporations to avoid strategic surprise.
2. Used to monitor, evaluate, and disseminate information relevant to the organizational development of strategy.
3. Used to determine a firm's competitive advantage.
4. Used as a tool to ensure a corporation's long-term health.
Answer:
General agent
Explanation:
A general agent is a person that the principal authorises to perform transactions in relation to a part business on a certain place.
A general agent can perform all acts in relation to a business that has been assigned by the principal. For example in real estate when an agent performs property management functions for his client he is acting as a general agent.
On the other hand a special agent is one that is employed by a principal to perform a specific task or job and his scope of responsibility is limited to that job function.
