An example of a natural monopoly industry operating in South Africa include "Eskom".
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What is natural monopoly?</h3>
A natural monopoly occurs when there is an instance in which it is economically viable and better for a single entity to be in full and sole control of the production of a product or service.
Moreover, a natural monopoly is the fact that natural monopolies have extreme economies of scale. It can only start to become profitable when one single firm is able to service the majority of the market.
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Answer:
No
Explanation:
Simple random sampling gives each member in the entire population an equal opportunity to be included in the sample. The technique removes bias in the selection procedure. It applies where a small number would adequately represent the entire population.
The procedure described in this case is a deviation of simple random sampling. It is stratified random sampling.
In stratified random sampling, the population is first divided into subgroups based on shared characteristics. The researcher uses simple random sampling to select representatives of each group in the sample population. The techniques ensure each group is fairly represented in the research.
Subdividing vehicles by their make is creating strata or subgroups.
In a business world, segregation of duties is important to have a sound internal control. The employee handing cash/check collection is prohibited from updating its customer's subsidiary ledger and recording of transactions in the books. This will eliminate fraud and misappropriation of funds.
The study of an agent's or individual's decisions is known as decision theory. The official decision-making process concludes with evaluation. Evaluating the consequences may assist the decision-maker in learning lessons that will help her make better decisions in the future.
- Loss aversion is the correct answer because the general notion of the "loss-aversion" theory is that if an individual is provided with two equal alternatives, one of which is presented in terms of prospective profits and the other in terms of potential losses, the former option will be chosen.
- Loss aversion is a cognitive bias or psychological phenomenon that explains why the agony of losing is twice as powerful psychologically as the pleasure of winning.
Therefore, representativeness, cognitive bias, and overconfidence are not factors relative to an arbitrary decision distortion. So, Loss aversion is the correct response to the question.
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Answer:
Output; Is
In a(n) <u>output</u> contract, the seller guarantees to sell 100 percent of its goods to one buyer, and the buyer agrees to accept the entire quantity. In a(n) contract, the buyer agrees to purchase 100 percent of its goods from one seller. These kinds of contracts <u>is</u> enforceable under the UCC.
