<span>If there's a perfectly competitive market in which no market failure occurs and no government policy interferes with the equilibrium price and quantity, this is what you called deadweight. Deadweight loss in business is described as an inefficiency made in the market because of the demand and surplus matter that creates disadvantages to the society.</span>
Answer:
C) Technological change
D) Quantity of capital per hour worked
Explanation:
Technological change is the most important factor for economic growth. It is more important than capital per hour worked since technological change can increase productivity dramatically, e.g. smartphones and the internet changed the way the whole world's population lives and carries out business.
Answer:
commercial, message, pitch
Explanation:
yes
What? What does this mean?
Answer:
d. Provides a guarantee of payment from the buyer, reducing the credit risk to the seller
Explanation:
A letter of credit is a document that guarantees a seller of payment from the buyer. It is drafted and issued by a bank assuring the seller of timely and full payment. A letter of credit is applied mostly in international trade where the buyer and seller hardly meet or know each other.
Banks issue a letter a credit against cash or other securities. Should the buyers fail to make payment, a letter of credit assures the seller that the bank will take responsibility for the payment. Banks usually charge a fee for issuing letters of credit.