Answer:
1. The obligation to transfer the vacuum cleaner in lieu of the price.
2. To honour one year warranty for any product defect that is part of the purchase contract and an inherent obligation.
Explanation:
The contract for purchase of a vacuum cleaner has two performance obligations;
1. The obligation to transfer the vacuum cleaner in lieu of the price.
2. To honour one year warranty for any product defect that is part of the purchase contract and an inherent obligation.
it may be noted that the extended warranty is a separate performance obligation as it can be purchased at the same time of original purchase or later and separate consideration is payable for that and there is no direct co-relation of the extended warranty obligation with the initial purchase.
Answer:
C. They buy the stuff they want in the goods and services market and sell their labor in the resource market.
Explanation:
The circular flow model describe how money moved around/distributed within society.
Every households can play the role as consumers and producers within the circular flow model.
As a consumers, households use their money to purchase goods and services from other producers. As a producers, households sell their labors to another business in exchange of salary/wage. The salary that the households receive will be circulated back when they purchase another goods/services and the cycle will keep going on.
with common resources, the equilibrium quantity can be individually rational because the consumer of the common resource experiences individual benefits from use of the common resources
<h3>What is
equilibrium?</h3>
Chemical equilibrium is the state in which both the reactants and products are present in concentrations that have no further tendency to change with time, resulting in no observable change in the system's properties.
The only thing that can change an equilibrium constant is temperature. If the pressure is changed, the position of equilibrium can be altered. The position of equilibrium moves in such a way that it tends to undo the change that you have made
When a reaction and its reverse reaction proceed at the same rate, this is referred to as chemical equilibrium. Both forward and reverse reactions occur as a system approaches equilibrium.
To know more about equilibrium follow the link:
brainly.com/question/517289
#SPJ4
Required reserves of banks are a fixed percentage of their fixed deposits.
<h3>What are required reserves?</h3>
Required reserves is the percentage of deposits required of banks to keep as reserves by the central bank. Required reserves are used to control the amount of loans a bank can give out. This in turn affects the money supply in the economy.
Reserves are also needed to meet unforeseen circumstances.
To learn more about required reserves, please check: brainly.com/question/12417681
To maximize profit, the perfectly competitive firm charges a price equal to the marginal cost while the monopolist charges a price greater than the marginal cost.
The monopolist will select the profit-maximizing level of output where MR = MC, and then charge the price for that quantity of output as determined by the market demand curve. If that price is above average cost, the monopolist earns positive profits.
In a monopolistically competitive market, the rule for maximizing profit is to set MR = MC and the price is higher than marginal revenue, not equal to it because the demand curve is downward sloping.
Learn more about monopolists at
brainly.com/question/13113415
#SPJ4
