Answer:
<em>Predictive expectation </em>
Explanation:
Most times will conceive a bigger picture of what is to come in our mind. Edward has a plan to obtain a car and he already has it in mind that his friend will give him a better deal. Edward already anticipated this prediction and its a case of predictive expectation
An expectation is termed predictive when we anticipate an outcome based on our old experience or real-life experience of others. Predictive expectations are most likely to happen because of the history backing up such future actions. Felipe and Edward get along so Edward expects a good deal because of the friendship.
Therefore this type of expectation is Predictive expectation.
The correct answer would be, Transitivity.
A consumer says he prefers a Toyota automobile to a Ford, and a Ford to a Jeep. He also says that he prefers a Jeep to a Toyota. The consumer violates the basic assumption of Transitivity about the preferences.
Explanation:
Transitivity is a method which provides a relationship between three elements.
According to Transitivity, if one thing has a relationship with the second thing, and the second is in relation with the third, then the first and third must be in relation to one another.
It can be described mathematically as:
If A=B, and B=C, then A=C (A must be equal to C).
So when customer says that he prefers Toyota over Ford and Ford over Jeep, then he can't say that he prefers a Jeep over Toyota, because this violates the basic assumption of Transitivity about preferences.
Learn more about Transitivity at:
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Based on comparative advantage and the situation described above, <u>the country that would benefit is Canada, while the country would be at a disadvantage in the United States.</u>
<h3>What is Comparative Advantage?</h3>
Comparative Advantage is the economic term used to describe the economy's ability of a company or country to manufacture a specific commodity or service at a cheaper opportunity cost than its trading partners.
Therefore, currently, Canada is known to have many industries in the oil, such as petroleum and natural gas. Therefore, Canada can quickly produce and trade oil at cheaper production costs with the United States.
However, United States' top industry does not include auto part production; therefore, to trade auto parts with Canada would be expensive to the United States.
Hence, in this case, it is concluded that the correct answer is Canada would benefit, while the United States would be at a disadvantage.
Learn more about Comparative Advantage here: brainly.com/question/7045530
