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777dan777 [17]
3 years ago
6

All of the following are examples of a commodity except

Business
2 answers:
9966 [12]3 years ago
7 0

Answer:

<u>Option-(B): </u>

  • A designer handbag, is the example of commodity, as the value of hand bag does not reach to the level or standard of the natural resources that we have on this planet.
  • Just because there can be alternatives for availing a designer bad but the natural resources can not be replaced by any other thing in this universe. Which thus terms the strawberries, milk, and petroleum as a source that has no alternatives to be replaced with, while the designer hand bag is not something to be termed as irreplaceable by any person.

elena55 [62]3 years ago
3 0
The correct answer to this is B) a designer handbag. This is not a commodity. A commodity is anything that is considered a raw material.
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Sources of monopoly power A monopolist, unlike a competitive firm, has some market power. It can raise its price, within limits,
Rashid [163]

Answer:

1. Patents are granted to inventors of a product or process for a certain number of years. The reason for this is to encourage innovation in the economy. Without the existence of patents, it is argued, research and development for improved electronics is unlikely to take place, since there’s nothing preventing another firm from stealing the idea, copying the product, and producing it without incurring the development costs.

<u>Government Created Monopoly</u>.

Patents protect the intellectual property of a person or entity and prevent others from taking it and using it without rewarding the people who came up with it. The owners of the parents are able to dictate the selling of the resource and as such have a monopoly over it. Patents are granted by the government which makes this a Government created Monopoly.

2. Throughout much of the 20th century, many people viewed South Africa’s De Beers Group as a monopoly because it controlled a large percentage of diamond production and sales.

<u>Ownership of Key Economic Resource</u>.

As early as 1902, De Beers controlled 90% of the world's diamond production and under the leadership of J P Morgan, consolidated control over the diamond industry. They controlled many mines and also bought diamonds from other producers allowing them to control the diamond trade. Even though their control has waned of late, they still control around 35% of the world's diamond production which is a very significant percentage.

3. In the electricity industry, low average total costs are obtained only through large-scale production. In other words, the initial cost of setting up all the necessary wiring makes it risky and, most likely, unprofitable for competitors to enter the market.

<u>Economies of Scale </u>

To survive in the Electricity industry the company would need to have an extensive network to permit them to benefit from Economies of Scale. This can be very difficult to set up so companies stay away from the industry thereby creating a monopoly for those already in it.

8 0
3 years ago
Liam was the beneficiary of a life insurance policy on his wife. Liam had paid $20,000 in premiums on the policy. Be collected $
Lesechka [4]

Answer:

B. FALSE

Explanation:

7 0
2 years ago
Goods are typically tangible while ____ are typically intangible
Firlakuza [10]
Services are typically intangible.

8 0
3 years ago
ou believe that you can earn 2% more on your portfolio if you engage in full-time stock research. However, the additional tradin
oksian1 [2.3K]

Answer:

C. $12,000

Explanation:

additional earnigns for active management:

800,000 x 0.02% = 16,000

<em><u>expected  </u></em>active management cost:

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net gain: 12,000

At most, we can spend 12,000 dollars.

Up to this point, the expense are cover by the additional return. bove this threshold the fund will incur in losses from the active management

8 0
2 years ago
Macrosoft Company reports net income of $55,000. The accounting records reveal depreciation expense of $70,000 as well as increa
Mrrafil [7]

Answer:

$99,000

Explanation:

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Add- Depreciation expense = $70,000

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Add- accounts payable = $11,000

Add- Income tax payable = $13,000

Total = $99,000

Hence, Net cash flow from operating activities = $99,000      

4 0
3 years ago
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