Suppliers and small business owners are in a partnership. The supplier and small business owners have an agreement also known as a partnership that they will supply the small business owner with the items they sell. There are usually contractual agreements between the two parties to make sure they are loyal to one another to help both stay in business.
11. D imports.
12.C
13.D
14.D
15.A
Answer:
C All of the answers are correct
Explanation:
A market structure is termed as oligopoly when there are very few suppliers in a market of so many buyers. For oligopoly, the profit is maximized where the marginal cost equals the marginal revenue. If the marginal cost curve shifts upwards, it means that it increases. In an attempt to increase the cost in one firm, all the consumers will shift to the other firms, in an attempt to increase output, a company will make lesser profit. In this case, it means that the company will have to make use of non-price methods to compete. Therefore, the correct answer is C as the above given answers are all correct.
Answer:
Letter c is correct. <em>Primacy effect.</em>
Explanation:
The primacy effect is a phenomenon that describes about the preference that humans have over a first choice, that is, individuals generally have a preference for the first data they receive about something, than the next data. This effect is compared to the first impression, which is the initial perceptions we get from meeting someone that are difficult to change even over time.
A good strategy for salespeople is to bring their highest performing product on the first visit, to have a positive effect on customer expectations and encourage sales.
Answer:
Economists typically depict the PPF as a bowed-out curve rather than as a straight line in order to show that the opportunity cost of producing one good rises as more goods are produced. Those points lying beyond the production possibility frontier (PPF) represent results which cannot be attained with the current level of technology and resources.
