Answer:
Letter b is correct.<em> A monopolistically competitive firm faces competition from firms producing close substitutes.</em>
Explanation:
<u>Monopolistic competition</u> is an economic situation that occurs when companies exhibit imperfect competition, that is, companies market similar but not identical products, which characterize them as substitute but not perfect substitute products.
Products may have different variables, such as quality, price and reputation in the market. The greater the degree of product differentiation, the more price control the company will have.
Answer:
D) express agency
Explanation:
From the question, we are informed about Marlon who intends to sell a piece of real estate he owns and contracts Nita, a real estate broker, to make the sale. In the contract, Marlon authorizes Nita to make the sale at or above a minimum price he wants and the date by which he wants the sale to be completed. The contract also stipulates that Marlon should not hire another broker to sell that piece of land till the expiry of the contract period. Nita finds a suitable buyer, makes the sale in time, and is paid by Marlon for her services. In this case, the types of agency had Marlon and Nita entered into is express agency. Express agency can be regarded as an agency that is been set up through an oral or a written agreement that exist between agent and principal. This gives indication of their express intent as regards this representational status. In this agency, the written or spoken words of the principal is used in authorizing the agent so that he can to act on behalf of the principal. An agency can be regarded as contract which could be express or implied.
Answer:
The correct answer is "communism system"
Explanation:
The communist system is a political and economic ideology postulated principally by Karl Marx. Where the nation is in contradiction to the liberal democracy and capitalism, promoting alternatively a classless system and the private property doesn´t exist. There are a lot of restrictions on freedom of assembly and freedom of speech, because the government seeks to have the system under control and cannot allows alternate ideologies that undermine its mandate.
