The basis of competition is freedom of choice exercised in the pursuit of money.
<h3>What is competition?</h3>
Competition is a scenario where different economic firms are in contention to obtain goods that are limited by varying the elements.
The purpose of competition is for businesses to try to outdo each other in order to earn more.
Also, competition enable businesses come up with newer ways to please their customers, hence come up with amazing innovative ideas and better products.
Hence, the basis of competition is freedom of choice exercised in the pursuit of money.
Learn more about economic competition here : brainly.com/question/967467
Answer:
Lois will save $152.51 when she wil transfer her balance.
Explanation:
Amount to be paid in 1 year for original credit card is given as
Here 
is the amount to be paid after P is the balance which is 970, 
is the APR for first credit card which is 24.2% and t is compounding frequency which is 12 so
Similarly for the second one the values are calculated as
The differnce of the two values is calculated as
The difference is $152.51 which she could save.
Answer:
The correct answer is letter "A": Costs and revenues in engineering decisions accrue over periods of years.
Explanation:
Engineering Economics is a field that allows managers to make decisions effectively thanks to the application of engineering techniques to economics. Those approaches are mainly associates with cost allocation determining if a company is assigning expenses efficiently at the point of being able to save money after conducting its operations given a determined period.
Answer: The primary source of purchasing power used to buy imported goods is the exports of a nation.
Explanation: Purchasing power is important because it allows a company too important and export goods from one nation to another. Depending on what currency terms are given, allows a nation to import or export said goods. Inflation plays a role in deciding how much of said goods are imported and exported.
