A pre-defined algorithm limits the total number of bitcoins such that quantities gradually approach a total of 21 million. The limit of 21 million bitcoins is "hard-wired" in to the protocol, and there will never be more bitcoins than this
<span>They use crossprice elasticity to determine monopoly power. In this case, this is how responsive a change in demand is of one good to the change in price of related good. The more elastic a product is, the more likely the product is to change its demand when another good changes its price.</span>
Answer:
To carry out the deal Bob should take note of the following points :
Bob should explain the entire functioning of the car in detailed manner to Phil.
Bob should ensure that an adult should accompany Phil at the time of agreement who would sign on his behalf as Phil is just 17 years old.
A detailed agreement is to be prepared which needs to be signed by an adult at the time of handing over the keys to Phil.
Bob needs to ensure the mode of payment used by Phil,whether cash,Car loan or on Equal monthly instalments.
If going for Car Loan, it has to be applied through a bankand it has to be approved by depositing proper documents.
Registration needs to be done in the name of an adult.
Car Insurance also has to be taken.
Explanation:
