A free market is where the prices of good ands service are detirmined by the open market and consumers, in which the laws and forces of supply and demand are controlled by government or any other authority.
Intellectual property falls into a category of property known as intangible rights, which are not tangible physical object.
Due to being intangible they can transfer information to another business or person but it has no physical being. Software design, brands, trademarks, domain names are some examples of intangible and intellectual property.
Answer:
don't launch
Explanation:
Game theory looks at the interactions between participants in a competitive game and calculates the best choice for the player.
Dominant strategy is the best option for a player regardless of what the other player is playing.
Nash equilibrium is the best outcome for players where no player has an incentive to change their decisions.
The payoff matrix for this question is
Launch (in millions) Don't Launch (in millions)
Launch (in millions) $40, $40 $30, $45
Don't Launch (in millions) $45, $30 $50, $50
It can be seen that the best strategy for each firm is not to launch because the payoffs of not launching ($45, $50) is greater than the payoff of launching ($40, $30)
Answer:
Explanation:
➤ Most women dislike the car-buying experience
The reason that the enlightened carmakers might have hired women in the first place was to better understand the way women decide to buy cars. From this, we can conclude that trying to sell a woman a car is not very easy. In order to get inside the women's head and think like that women does, they need to hire one of their kind, which is a woman. A woman understands a woman and can better sell the car to them because they know what the woman wants, feels, likes and dislikes.
- Mordancy
Answer:
its cost is least in terms of alternative goods that might otherwise be produced
Explanation:
Comparative Advantage
This is simply explained as when an individual has an opportunity cost of performing a task is lower than the other individuals opportunity cost that is it is more efficient. It is the usual fundamental basis for international trade. Its principle includes production at a maximum peak to be achieved if each individual focus on the job or activities for which his or her opportunity cost is lowest.
Opportunity Cost
This is simply known as the highest valued of an alternative that must be given up so as to be involved or engage in an activity/job or task. There are several sources of a comparative advantage. They includes;
1. Climate and natural resources
2. Relative abundance of labor and capital
3. Technology
4. External economies etc.
