Answer:
The law of one price establishes that the product or service price will remain the same for all the entire world.
Explanation:
The law of one price establishes that the product or service price will remain the same for all the entire world. It is necessary to take into account for this law that the price of the currency needs to be also the same and that the price of the product or service would not be affected by other factors such as additional buyers or sellers in the market.
On the other hand the purchasing power parity refers to the idea of an equilibrium of currencies in exchange rates, it means that the power for purchasing will be represented in the same way in the different countries, and it is important to mention that this theory is base in the law of one price.
The the long run equilibrium is an idea that in theory represents all the equilibrium of prices, quantities, and markets in general; on the other hand, for the short run equilibrium there are some limitations in which the market cannot be explained as properly and fully balanced.
Goods and services are:
B. Together, they represent everything that can be bought or sold.
A is false because only goods can be touched and tangible.
C is false because there are times when goods and services are scarce.
D is false because both have economic value that is why goods and services are bought and paid for.
The answer and explanation of part a of the question is provided in the attachment.
Note:
complete question of part a is attached.
When a firm combines Resources and Capabilities, it builds a core competencies group of answer choices activities; processes capabilities; skills knowledge; information resources; capabilities.
The resources and expertise that make up a company's competitive advantages are its core competencies. Any organization's core competencies are the capabilities, skills, resources, and capacities that make up its "defining strength." A company's core strength is unique, making it difficult for other organizations—whether they are longtime rivals or recent market entrants—to imitate it.
Each skill is a value that enhances the company's core positioning. They are important because they can make it very difficult for rivals to precisely reproduce the company's goods or its success. This is why one of the most important steps in strategic planning is determining key skills.
To learn more about Core competencies
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