Answer:
Inelastic: Demand for business goods tends to be me more inelastic than demand for consumer goods.
Explanation:
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True. Fixed cost per unit is inversely proportional to the volume of units produced.
Fixed costs per unit are inversely proportional to the volume produced because depending on the amount of units made, the amount spent on fixed costs is then based. Because they are related to one another, this statement is true.
Answer:
Explanation:
There are many successful businesses that have risen from nothing. One business that stands out was the website X which is now known as Paypal. Looking at this business and many other successful ones I have learned that making a business successful relies on two main factors. Whether or not your product/service solves a real-life problem, and if you have your correct target audience. Getting both of these two factors correct almost guarantees that your business will be a success assuming you put in the effort.
Answer:
2. False
Explanation:
Capacity to a contract refers to whether the person to a contract is legally competent to enter into such a contract.
For instance, lunatics, drunkards, minors, criminals and person of unsound mind are deemed incapable of entering into a contract.
A person diagnosed with dementia, which impairs his decision making would normally be regarded as incapable to signing a contract.
But, capacity is ascertained as per the situation i.e at the time the contract is signed or entered into.
In the given case, Ronald entered a contract while he was sane and in healthy state of mind. His judgement at the time of entering such a contract wasn't impaired by dementia.
Thus, the contract will be legally enforceable as per the law.
Answer:
Localized economics
Explanation:
Localized economics :
Localisation implies the grouping of a specific industry in a specific region, region or area. Localisation is identified with the regional division of work, that is, specialization by regions or areas.
A specific town or district will in general have practical experience in the creation of a specific item.
These are benefits for a firm got from the nearness of firms having a place with a similar industry in a region. Urbanization economies are those advantages acquired by a firm emerging from the size of a region and the decent variety of its economy.
