Answer:
E) agglomeration economies
Explanation:
Agglomeration economies refers to a lot of companies being located close to one another. Generally most of these companies work on the same industry, e.g. Detroit for car manufacturers.
The main advantage of agglomeration economies is that synergy may be created between different firms which allows them to be more efficient and productive, and at the same time they will lower their costs.
Answer:
d. Products sold by a firm.
Explanation:
Combination of products sold in relation to total products sold by the firm.
A firm can have any number of products and the proportion of each product in relation to the total number of units sold of all products together is the sales mix. For example a firm with 2 products sells P1 4000 units and P2 6000 units the sales mix then would be P1 40% and P2 60%. Therefor option D) is the right choice and accurate definition of a sales mix.
Hope that helps.
Answer:
No, legal consideration is absent
Explanation:
According to the given situation, the President of ABC company was promised to Helen to give a new car next week as Helen worked for 25 years. But the president did not give the car as he promised to the Helen.
In this case, there was a promise which was verbal, not in the way of legal consideration, which means there is no proof so that Helen can claim from the president.
Therefore the correct answer is No, legal consideration is absent
Answer:
b. At the signing of the contract
Explanation:
A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.
Mutual assent is a legal term which represents an agreement by both parties to a contract. When two parties to a contract both have an understanding of the parameters, terms and conditions surrounding a contract, it ultimately implies that they are in agreement; this is generally referred to as mutual assent and it is at this point they (buyer and seller) sign the contract. Therefore, mutual assent connotes agreement, acceptance and consent to a contract by both parties.
<em>Hence, in most transactions, the buyer is accepting the condition of the property at the signing of the contract as an approval or consent to the terms and conditions. </em>
