Answer:
C. The nature and degree of competition among firms in the same industry.
Explanation:
read it in my text book
Answer:
Wilbur cannot rescind the contract based on his unilateral mistake.
Explanation:
Lets suppose that I made an offer of $1000 which you accepted to buy my car on a phone call for $1000 and later in the same day a person offered me more money for the same car and I sold the car to him. You went to court and I said that I mistakenly made an offer of $1000 which means that every person who revoke the clauses will make lame excuses in the court. If this act is permitted then the law gives the people free hand whatever they desire to do with the contract. So for this reason this act was considered unethical and the court said that the mistakes that are unilateral are not be rescind.
Answer:
World Trade Organization (WTO)
Explanation:
The World Trade Organization was formed on the 1st of January, 1995 to ensure free trade among member countries. It is made up of 164 member countries. It is also saddled with the responsibility of policing the world trading systems and also ensuring that member states stick to the rules in the trade deals signed by them. The World Trade Organization can also punish countries by imposing trade sanctions if they fail to respect the laid down rules.
The World Trade Organization (WTO) is currently headed by Roberto Azevedo, a Brazilian.
Answer:
Developing nations are concerned with commodity price stabilization because of the following reasons
- There are high price elasticity of supply and demand for many commodities
- Developing economies are often highly dependent on the export of just one or a few commodities.
Explanation:
In recent decades there has been growing concern about the sharp fluctuations of primary product prices, the effects of those fluctuations on particular groups of producers and particular countries, and the measures which might be taken to reduce or offset the fluctuations.
Producing countries have been dominated by proposals for stabilizing world prices of commodities, in particular via the establishment of a “Common Fund” within the framework of UNCTAD's Integrated Program for Commodities.
However, developing nations are concerned with commodity price stabilization because of the two reasons provided above which could result in inflation and deflation.
A company controls the market for a good or service
