The five foundations of trade are:
- incentives
- tradeoffs
- opportunity cost
- marginal thinking,
- principle that trade creates value.
<h3>Why do we engage in trade?</h3>
There are five main foundations of trade that are the reason why people engage in trade. One of them is the profit incentive to make money from trade. Another is the tradeoffs that people are forced to make to survive.
Opportunity cost also leads to trade because people give up one thing for another and so may have to sell the thing they gave up to receive the thing they want. There is also the principle which posits that when we trade, value is created. Finally, there is marginal thinking which is thinking along the lines of the benefit of one additional unit.
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The answer to the question above is Re-sellers. not to mention the question above stating that a firm sells goods that is purchased for a re-sale automatically refers to the Re-sellers. The Re-sellers can be a retailer that sells to the end users or sells to other business firms like the whole seller. basically the term Re-seller is a firm that who buys product lesser in the market and sells it with added value.
The correct answer is that the price elasticity of demand is elastic.
Price elasticity occurs when a change in price results in a change in demand. In this example, a 20 percent increase in the price of the drinks resulted in a 25 percent decrease in the demand for the product. Because the price increase resulted in a demand decrease the price is elastic.
Answer:
b. Decrease his inputs
Explanation:
The Equity Theory explains the influence that the perception of fair treatment has on the motivation of individuals. Or, from another point of view, in its demotivation.
People tend to compare ourselves to others. With other people's situations, inside and outside work. Thus, we form a perception about what is fair or unfair.
If the result of the comparison is understood as fair, people are more likely to feel motivated. On the contrary, when they perceive that they are treated unfairly, tension and demotivation appear.
In short, when compared to others, people want to be treated fairly for their contributions to the organization. And beliefs regarding what is fair and unfair can affect their motivation, attitudes and, therefore, their behaviors at work.
