Products whose demand rises when another product's price increases are called: Substitute goods
Answer:
Theodore Levitt
Explanation:
Theodore Levitt was an American economist and professor at the prestigious Harvard Business School (Cambridge, Massachusetts). Also editor of the economic magazine Harvard Business Review (HBR) where they published their articles. It marked a milestone in creating the concept of "globalization" focused on an economic point of view, specifically in its article "Globalization of Markets" was where he referred to it for the first time, thanks to what became very popular and joined the currents of economist thinking.
Answer:Documenting rules, procedures, and guidelines to be tested against a system.
Explanation:
Assessment means to analyzing someone or something in respect of its quality, quantity and other such characteristics. Generally, assessment is done by comparing the actual results with some predetermined criteria .
Assessment is done by firms to know whether there is a problem, where it is and how it can be solved so that future losses could be saved.
Hence from the above we can conclude that the correct option is C .
Answer:
$72,200
Explanation:
For computing the amount included in the income statement as an investment we need to applied the equity method which is shown below:
= Earned amount × given percentage
= $361,000 × 20%
= $72,200
We simply multiply the earned amount by Nash with the acquiring percentage i.e 20% so that the amount could come and the same is to be included in the income statement
The space between the buyer’s reservation price and the seller’s reservation price is called the Total surplus.
What is reservation price for buyer?
A reserve price or reservation price is a word frequently used in auctions and refers to the lowest amount a seller will accept as a successful bid. An alternate, less well-known definition is the highest price a customer will pay for a good or service.
What is producers reservation price?
The minimal price that buyers and sellers are ready to accept in order to buy or sell a good is known as the reservation price. It is the highest price a potential buyer or consumer is willing to pay for a good; for a seller or producer, it is the lowest price they are willing to accept.
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