Answer:
No representation broker
Explanation:
A no representation broker represents no one in a broker relationship, the agent only represents himself. Since the broker does not represent the buyer nor the seller, he/she can help them both in order to complete the transaction. There is no loyalty nor any fiduciary responsibility in the transaction.
But no representation brokers have certain duties:
- Disclose his/her duties to the sellers and buyers.
- Deal with all parties honestly and fairly.
- Disclose all known facts that materially affect the value of residential property.
- Account for all the funds entrusted to the licensee.
Answer:
Inferior good.
Explanation:
Inferior goods are those that their demand decreases as the consumer's income increases. They are unlike normal goods that demand increases with increased income.
Inferior goods are usually purchased as a necessity due to low prices. The consumer did not have enough money to purchase what he would have preferred. As income rises the consumer goes for his preference.
In this instance as you graduate college and start earning higher you do not purchase pizzas anymore because to you they are inferior goods.
Answer:
brand equity
Explanation:
Brand equity refers to the commercial value added to one product or service by the customer's perception of its brand. Some brands have a higher brand equity and customers perceive them as high quality or luxury products, e.g. Mercedes Benz or Apple. While other brands are perceived as common or ordinary products with medium or low quality.
Two products may be identical or very similar, but the fact that a product's brand may be perceived as better than the other, allows a company to charge a higher price for it.
The four factors of production are land, labor, capital and entrepreneurship. These factors influence economic growth, innovation and consumer habits.
Combining different material and immaterial inputs to create something for consumption is the process known as production. It is the process of producing an output, a good, or a service that has value and enhances people's utility.
Directly resulting from the productive use of the initial inputs is the production process and output. Land, labor, and capital are regarded as the three primary production factors, or primary producers of goods or services. In the output process, neither the primary inputs nor the output product are significantly changed.
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Answer:
articles of incorporation.
Explanation:
An article of incorporation also known as corporate charter, can be defined as a set of formally written documents that legally establishes the existence of a corporation when filed with the government.
Hence, the document filed with the state that begins the incorporation process in most states is called the articles of incorporation.
For example, in the United States of America, an article of incorporation should be filed or petitioned to the Office of the Secretary of State where it chooses to establish its corporation.
Additionally, an article of incorporation typically comprises of information such as the business firm's address, business name, type of stock issued, amount of stock issued etc.