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pav-90 [236]
4 years ago
13

Explain and give an example of any three of the following: good, service, free good, nuisance good, economic good, economic serv

ice, free service
Business
1 answer:
Lapatulllka [165]4 years ago
4 0

Answer: The answer is as follows:

Explanation:

1. Good : Goods refers to an item or material that can be used by the consumer to satisfy their wants and it is tangible in nature. For example; mobile phone, pen, pencil, etc.

2. Service: Service is intangible in nature. Service is provided by the other person which includes medical services by doctors, travelling services, etc.

3. Free good: A free good is a good that is available at a zero price and a good that is not scarce in quantity. For example; ideas, web page, sunlight, etc.

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<h3>Answer: Neither. They will use International Law. </h3>

Explanation:

When companies from different countries get  into a contract, it is quite desirable that they stipulate which country's laws that they will abide by should the need arise.

However, if this is not done, there is still a method of enforcing. When not specifically listed, contract between companies from different countries falls under a branch of Private International law which is International Contract Law which is synonymous with International Sales law.

This law falls under the jurisdiction of the United Nations Convention on Contracts for the International Sale of Goods (CISG) which came into effect in January 1988.

Both France and the United States of America have ratified the law and so Cowboy Hats is free to take legal action within this framework if they so please.

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3 years ago
Otis, the manager of a camera store, believes that his store may be closed by corporate in the near future, so he cannot sleep w
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Answer:

Panic

Explanation:

A panic attack is the abrupt onset of intense fear or discomfort that reaches a peak within minutes and includes at least four of the following symptoms: Palpitations, pounding heart, or accelerated heart rate. Sweating. Trembling or shaking. Sensations of shortness of breath or smothering.

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3 years ago
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Revenues, Expenses, and Cost of Goods Sold are closed to which of the following accounts:_________
iren2701 [21]

Answer: A) Income Summary

Explanation:

The Income Summary account is used to compile temporary accounts before posting them to capital accounts. Revenues, Expenses and Cost of Goods are temporary accounts which will be compiled in the Income summary account.

The Income summary account has a debit and a credit side with income going on the credit side and expenses going on the debit side. If the credit side is higher than the debit side then profits have been made. The reverse is true.

6 0
3 years ago
A decline in the real GDP that occurs for at least two or more quarters is called a _______. a. recession c. recovery b. depress
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A decline in the real GDP that occurs for at least two or more quarters is called a depression. The correct option among all the options that are given in the question is option "b". There is a very thin line of difference between recession and depression. when the real GDP falls for a repeated number of periods, then it is depression.
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4 years ago
Considering the needs of a global audience is essential to success in the hospitality and tourism industry?
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Answer:

True

Explanation:

In simple words, the hospitality and tourism industry refers to the activities related to accommodation, restaurant and tourism etc. In such industries the main focus of the companies is the comfort and joy of their clients. This becomes difficult to implement as every individual have different needs and circumstances. Thus, the planning of activities should be made in such a way that it suited the global audience.

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3 years ago
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