Answer:
1. Sports Team Shirt - Excludable / Rivalrous
2. Air we breathe - Non - Excludable / Non - Rivalrous
3. Atlantic Bluefin Tuna - Non -Excludable / Rivalrous
4. A Toll Road - Excludable / Non - Rivalrous
Explanation:
A rivalrous good is one in which usage, by an individual limits the ability of another to use the same good. Rival goods are tangible. This means that they can be held or touched. Examples in this category are; A sports team shirt and, the Atlantic Blue Fin Tuna. Eating a Tuna would limit access to another person, who wants to eat Tuna at that point in time. The same would apply to wearing a sports shirt.
A Non - Rivalrous good is one in which usage by an individual does not limit consumption by another. Most non - tangible goods are non -
rivalrous. Examples in this category are; the air we breathe, and the Toll Road. Almost anyone can access these.
Excludable goods are only used after payment for them has been made. Examples are the Toll Road and the Sports Team Shirt.
Non - Excludable goods can be used even when payment has not been made. Examples are Air and The Atlantic Blue Fin Tuna which anyone can access.
Answer:
<u>Operational decision</u>
Explanation:
Remember, management takes several decisions which could be;
Group decisions,
Strategic policy, and
Operational decisions etc.
However, operational decisions are taken <em>usually by Top Management such as the production manager </em>in this scenario concerning issues that have a long time effect on the organisation's operational efficiency.
One such issues is the manner in which production is carried out.
Companies can implement global marketing by developing a product and promotional strategy that can be implemented worldwide. Global marketing involves the process of devising and conveying a product worldwide with the principal aim of reaching the international marketing community.
Answer:
buyers are relatively comfortable with the quality and performance of substitutes, and the costs to buyers of switching over to the substitutes are low.
Explanation:
Substitute goods are goods that can be used in place of another good.
Factors that increases competitive pressures from substitute products include:
- the switching cost : the lower the cost of switching to substitute good, the higher the competitive pressures from substitute products
- If the demand for the industry product is price sensitive : if demand for the product is price sensitive, a small increase in price would lead to an increase in demand for the substitute good
Answer:
<u>labor force</u>
<u>Explanation:</u>
Remember, the labor force refers to a ratio of the number of employed and unemployed persons in a given economy or organization. In Antonio's case, his small computer firm had been affected by the economic recession; causing a decline in his labor force.
