Answer:
The correct answers are all of the above options
Explanation:
Trade is the term which is defined as the activity of exchanging, buying or selling the goods and the services among the countries, people, families, nations.
It offers the variety or range of the products which could be sold in the market in order to earn or gain profit so that could benefit the business or themselves.
So, it could be better off when applies to the trade and interactions among the families, nations and states within US.
In this situation there many skills that a person is capable to develop.
Self-confidence
Self-knowledge
Initiative
Competitiveness
Empathy
Self-confidence and Self-knowledge these skills are important for you to take risks and have security, they are great for entrepreneurship, aiming to be a leader and entrepreneur. To do this, get out of your comfort zone and start getting a broader view of how far you can go; mark your goals on paper, circle those you've already achieved, and always determine new ones; run away from very protective people and superiors who do not delegate tasks, limiting their ability; To improve your self-awareness, try to see how people around you see you or look for a subject matter expert, such as a therapist, to improve your personal abilities.
Initiative serves to turn good ideas into practice. It is acting with speed and innovation. To leverage this ability: Offer help in solving difficult and unpredictable situations; If you tend to avoid risks, consider past mistakes as new opportunities for learning. develop activities that are related to the initiative such as delegating tasks, cost-benefit analysis; clarify your priorities to put them into practice.
Competitiveness is to have clear goals, don't settle for reaching the common goal. Worrying about doing a great job, going beyond the goals set by your superiors, having a tendency to innovate and enjoying things you couldn't before. All of these factors refer to sound competitiveness, a step to success. This skill is closely linked to your emotions and personal motivations.
Empathy is the key skill, especially for those who deal directly with customer service and service professionals, as it is up to these professionals to empathetically identify what their customers really need. In fact, empathy develops with practice, first consciously (taking notes of what the other says, listening to doubts and needs) and then converting it into a daily habit.
Answer:
The correct answer is D. demand and the nature of the market.
Explanation:
External factors: Nature of the market and demand
The price-demand relationship varies in different market classes, and how the way the buyer perceives the price affects the pricing decision. 4 types of markets
.
- If there is pure competition: merchants in these markets do not devote much time to marketing strategy. There is no charge for the products. It is standardized.
- In monopolistic competition: it is within a price range, it can vary by quality, or the services that accompany it.
- In oligopolistic competition: they can be uniform products or not, they are constantly watched over the competition. If prices rise, buyers will quickly change them as a supplier. There are few vendors and it costs others to enter.
- In a pure monopoly: a market formed by a single supplier, unregulated monopolies have the freedom to set their prices, however they do not take advantage of them for several reasons, not to attract competition, fear of regulation and to penetrate the market.
- Demand curve: curve that shows the number of units that the market will buy in a specific period at the different prices that could be charged.
- Price elasticity: Measurement of the sensitivity of demand between changes in the price. It is obtained with the following formula: Elasticity of demand with respect to price = percentage of change in the amount of demand Percentage of change in price
Answer:
The correct answer is the option C: For markets to work, people must be free to pursue their self-interest.
Explanation:
To begin with, Adam Smith was a Scottish economist, philosopher and author known as ''The Father os Economics'' and whose works established the basics of today's economics.
To continue, in Smith's most known classic work, ''An Inquiry into the Nature and Causes of the Wealth of Nations'', he established the concept called the <u><em>''invisible hand''</em></u><u> </u>that states that <u><em>in order to the economy to work properly, the people must be free to pursue their self-interest products without no restrictions from the government</em></u>.
Answer:
Option (a) is correct.
Explanation:
Given the marginal utility per dollar for the two products as follows:
All the individuals wants to maximize their utility that is obtained from the consumption of goods. We can see that marginal utility per dollar of product A is higher than the marginal utility per dollar of product B which means that this consumer should purchase more quantity of product A and less quantity of product B.
It is going on until the point at which marginal utility per dollar of both the products becomes equal.
