<span>Free enterprise is more likely to be observed in "mixed" economic system.
A mixed economic system refers to a financial framework that highlights qualities of both private enterprise and communism. A mixed economic framework secures private property and permits a level of financial flexibility in the utilization of capital, yet additionally takes into account governments to interfere in economic exercises to accomplish social points.
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Answer:
The Supreme Court ruled in favour of the Complainants, enforcing the contract.
Explanation:
The Lucy Vs Zehmer case was one of decision on if a contract was binding or not on the basis of the undisclosed intentions of the parties involved in the contract. Zehmer alleged that he had jokingly sold and transferred title to Lucy while drunk. However the court ruled that contract for the sale of land to Lucy was valid on the basis that the secret intentions of Zehmer was not known or disclosed in the sale of the land and only his actions count for the contract to be binding.
Complete Question: Many banks and phone companies now charge fees for once-free services to ensure minimum customer revenue levels. This helps the banks to ________.
A) reduce the rate of customer defection
B) make low-profit customers more profitable
C) enhance the growth potential for each customer through cross-selling
D) increase the longevity of the customer relationship
E) focus disproportionate effort on high-value customers
Answer:
B) make low-profit customers more profitable
Explanation:
Many banks and phone companies now charge fees for once-free services to ensure minimum customer revenue levels. This helps the banks to make low profit customers more profitable.
The basic logic behind this strategy is that when customers find something coming free, then they start taking it for granted, they don't pay much attention to it, therefore, when the some services are free, customers will not be spending much on them, like upgrading, monthly plan up-gradations, monthly or annual subscriptions. Consequently, to turn the those customers into highly valuable customers, companies charge for the services which were free of cost in the past.
Answer:
Demand for spinach is elastic.
Explanation:
The price floor, which is maintained by the United States, is the minimum price for selling the goods. This price is set above the equilibrium price, which results in excess supply while demand for the same goods remains constant.
Since the prices for spinach cannot be set lower than the price floor and the policy is decreasing the revenue output for spinach farmers then this probably means that the prices are set too high which has decreased the demand for spinach. This means that the demand for spinach is elastic.
Answer:
offering a wide range of products
Explanation:
