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algol [13]
2 years ago
10

Please HURRY !!!

Business
1 answer:
mafiozo [28]2 years ago
5 0

Answer:

See below

Explanation:

<u>1. Cell phone services are an example of oligopoly.</u>

Under oligopoly, a few firms dominate the industry. The cell phone industry is big in volume and value in the US.  Despite its size, the cell phone service industry has few providers.  Only a handful of names are well-known including, T-mobile, Verizon, AT&T, and Sprint. The firms complete in a collaborative way. New entrants require massive capital investments.

<u>2. Capitalism- allows buyers and sellers to make decisions</u>

Capitalism is an economic system where the governments' role in trade is limited. In Capitalism, people and businesses make most of the economic decisions. Private individuals and companies own the factors of production.  Profits motive is a key factor in entrepreneurship. Capitalists focus on wealth creation.

<u>3. Monopolistic Competition</u>

A monopolistic competition market structure combines features of a competitive and monopolistic market. The elements of monopolistic competition include.

  1. Freedom of entry and exit
  2. Many buyer and sellers
  3. Firm offer differentiated products

Unlike in perfect competition, monopolistic competition has different goods and services.

<u></u>

<u>4. Economics </u>

Economics is the analysis of how society allocates its scarce resources to produce valuable goods and services. Economics also studies the distribution of these products to members of the community. Economics recognizes the scarcity of resources. It advocates for the efficient use of scarce resources to meet the demands of different people.

<u>5. Michigan Cherry Production Increase 47%</u>

Like other agricultural products, cherry prices are influenced by the quantity supplied. Prices remain stable when supply and demand are relatively constant.  

Should Cherry production in Michigan go up by 47 percent, there will be an oversupply in the market. Few buyers will be competing for very many goods, which will result in a price decline.

<u>6. Free Enterprise market </u>

A Free enterprise market is an economic model where buyers and sellers have the freedom to spend money as they wish. In this model, the government minimally restricts trade. In the US, the government is mainly a regulator. In free-market enterprise, there is competition amongst producers, the Right to own property or the factors of production,  and a profit motive. There is freedom in the choice of business, products, and services. These elements are prevalent in the US economy.

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Mr. Isaac is lending Gh₵20000 to Mr. Hayford, to be repaid over five years. Mr. Isaac would like to effect a policy on Mr. Hayfo
Alla [95]

Question:

Mr. Isaac is lending Gh₵20000 to Mr Hayford, to be repaid over five years. Mr Isaac would like to effect a policy on Mr Hayford’s life to cover the loan should Mr Hayford die. Mr Hayford would like to insure Mr Isaac’s life just in case he dies and the beneficiaries of his will insist that the loan be repaid early.

(a)​ What is the extent of insurable interest in each case?

(b) ​Consider any necessary action if the loan was later repaid earlier than anticipated what happens to the policy?

Answer:

To answer the question (a), one must first understand the concept of <em>Insurable Interest.</em>

A policyholder is said to have an insurable interest in a subject matter whenever the subject matter of a contract provides some financial gain to them and would lead to a financial loss if damaged, destroyed, stolen or lost.

For example, if I purchase a car for my use for $10,000, theft of or damage to that car will translate to financial loss to me. Therefore, I have an insurance interest in the car. This qualified me to Insure the car against loss arising from any form of insurable damage, or theft.

In question (a) there are two cases.

<em>Case I - Mr Isaac would like to effect a policy on Mr Hayford’s life to cover the loan should Mr Hayford die.</em>

Mr Isaac, in this case, has full insurable interest on Mr Hayfords life. If Mr Hayford dies,  Mr Isaac will be put in a financial loss to the tune of Gh₵20000.

<em>Case II - Mr Hayford would like to insure Mr Isaac’s life just in case he dies and the beneficiaries of his will insist that the loan be repaid early. </em>

Mr Hayford does an insurable interest on Mr Isaac's life. This insurable interest arises due to the possibility (as given in the question) that Isaacs family have the power to request for the loan earlier than it ought to have been paid.

The insurable interest arises because paying back the loan earlier than anticipated, may put Mr Hayford in financial distress and may lead to financial and economic loss. If the loan is meant for the running of his business, the business may fold up, and he may forfeit all the assets of the business.

In a real-life scenario, this can all be prevented by ensuring that the terms of the loan are documented in a contract which must be ratified by both parties. In this contract, clauses preventing the lender from cutting short the tenure of the loan can be inserted. This is less expensive and easier to administer.

(b) In each of the cases above, if the loan is paid back earlier than anticipated:

i. Under duress from the family: The provision of the policy protecting the interest of Mr. Hayford kicks in and makes good the loss to mitigate it and terminates afterwards.

ii. By volition by Mr Hayford: The policy terminates immediately as the insurable interest he has on Mr Isaac's life becomes extinct.

Cheers!

6 0
3 years ago
United Technologies is a good example of a​ ________ strategy because it uses individual or separate family brand​ names, includ
Andrew [12]

Answer:

e. house of brands

Explanation:

House of brands is when a company has many brands. Each one is independent, with its own target audience. They each communicate a unique brand value to customers.

United Technologies has adopted this strategy by developing various brands: Otis Elevators, Carrier Heaters and Air-conditioners, Sundstrand Aerospace, and Sikorsky Helicopters.

8 0
2 years ago
Three corners markets paid an annual dividend of $1.37 a share last month. today, the company announced that future dividends wi
nikklg [1K]
Given 
   $1.37 = share month
   2.8 % increase 
   11.6 % returned
Find how much pay to purchase one share of this stock 

$1.37 x 0.028 = 0.03836
$1.37+0.03836 = 1.40836
$<span>1.40836 x .116 = 0.16336976
$</span>1.40836+<span>0.16336976 = $1.57 

The answer is $1.57 to purchase one share of this stock today.</span>
6 0
3 years ago
Plz sum one help me bc im in a argument with my friend and i don't know what to say any more
katen-ka-za [31]

ok whts the fight abt? how long have yall been fighting?

i gotchu

7 0
3 years ago
Read 2 more answers
Lucky Company's direct labor information for the month of February is as follows: Actual direct labor hours worked (AQ) 61,500 S
Rufina [12.5K]

Answer:

d. $18,900 unfavorable.

Explanation:

Direct labor efficiency variance = SR*(SH-AH)

18000 = SR*(63000-61500)

18000 = 1500 SR

SR = $12

Total standard direct labor cost for February = 63000*12= $756,000

Direct labor flexible-budget variance = $774,900 - $756,000 = $18900 Unfavorable

3 0
3 years ago
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