Answer:
Entrepreneurs. people who own, operate, and take the risk of a business venture.
Being smart is something that's grown and cultivated, often by being curious enough to seek out new information and by recognising what you don't already know. Being smart is the ability to put ideas together, and create solutions to problems. Being smart is the ability to focus, concentrate, and communicate.
Answer:
B. Must be written to be enforceable
Explanation:
In the United state, sale of personal property for $500 or more must be written to be enforceable. These kind of contracts are said to be within the statute of fraud.
These types of contracts are called Sales contracts which is an agreement between the buyer and seller. For the amount of money involved, a written contract provides security and peace to the mind of all those involved in the contract, hence why deals above $500 must be written to be enforceable.
Answer:
$3.2 million
Explanation:
The revenue and gross profit or loss which the company identify in the first and second year if it recognizes revenue upon contract completion is calculated below.
Total costs = Incurred costs + estimated costs to complete = $8 million + $12 million = $20 million
Revenue to recognize = $8m/$20m*$28m = $11.2 million
Gross Profit = Revenue recognized less costs incurred
= $11.2m - $8m = $3.2 million
In response to a shortage caused by the imposition of a binding price ceiling on a market,
a. price will no longer be the mechanism that rations scarce resources.
b. long lines of buyers may develop.
c. sellers could ration the good or service according to their own personal biases.
A binding price ceiling is when the government or an agency of the government sets the maximum price of a good or service below the equilibrium price.
When price of a good is set below the equilibrium price of the good, the producer surplus would decreases and the consumer surplus would increase. This would lead to an excess of demand over supply. As a result, a shortage would occur. As a result of the shortage, black markets would occur.
To learn more about a price ceiling, please check: brainly.com/question/24312330
