It creates the possibility of companies, which are selling a certain product on a market which does not have any other producer, becoming and having the 100% of the market share.
This enables them to completely determine the price that can be very high as people will have to pay if they want to have this product.
It also enables them to determine various aspects about the quality of the product in general.
Usualy all this would be determined by the demand and competition. But in a command economy, all of it is determined by the producer. All the products can therefore look the same and don't need to be produced in excess but in just the right amount for the people which is obviously very hard to determine.
Answer:
Explanation:
External environment refers the factors that play outside the company that management of an organisation has no power over. These factors influence the strategic and operational decision of the business even though they are outside the control of management. External environment is subdivided into two: the general environment and the specific environment.
The general environment refers to the factors that affects all businesses in general in respective of their niche or domain of operation. These factors include political, legal, economic and social. Example of issues that can arise in general environment include war, inflation, economic recession and religion.
In contrast, specific environment contains factors peculiar to an industry, firm and domain of operation. These are different across the industries in which organisations operate. Paying close to what happen in the specific environment is very important for business to survive because they directly influence the success or otherwise of a business operation. The agents that play in the specific environment are competitors, customers, investors and other stakeholders group.
His father tried shielding him from poverty. He did not want his son to see poverty and the bad conditions people there were living in at the time, especially in the countryside. He didn't consider his son seeing these things in his life would help him in his journey through life.
Answer:
creolization
Explanation:
Creolization is most commonly referred to the languages that merged with the dominant language and culture to produce a new language with variations and an own life:
The cases most exemplified are the French variations that are present in Haiti (Haitian Creole, or in Mauritania, where Mauritian Creole formed).
The cultural patterns embrace selectively some aspects of European and Latin American or African origins as the people came in contact with each other.
The ethnic and social differences in this highly diversified societies account for the formation of a new culture with both local and external roots.
The correct answer would be, Actual loss experience of the group.
Experience rating utilizes Actual loss experience of the group in determining the rate the insurer will change for group coverage in each year of coverage.
Explanation:
When an employer adjusts premium for workers' compensation coverage based on the loses the insurer has experienced from that employer, then this adjustment is called as the experience modifier or experience rating.
In this rating, at the end of the year, the insurer charge for group coverage the actual loss experienced due to that group.
This rating helps the insurer to determine that a particular policymaker will file a claim or not. It also helps in determining which company has produced more workers' claims in a specified period of time.
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