The fundamental belief behind the market-oriented US economy is that firms are in the best position to know if their actions will cause antitrust laws to be being broken and allow them to work more efficiently. This is further explained below.
<h3>What is an
Economy?</h3>
Generally, the status of a country in terms of commodities and services production and consumption.
In conclusion, Firms are in the best position to ascertain the effect of their actions on the economy.
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Answer: only risk loving
Explanation:
From the information given in the question, the expected monetary value (EMV) will be calculated as:
= $200 × (2/3) + $500 × (1/3)
= $300
Since the certain equivalent of $312 is more than the expected monetary value (EMV) of $300, then Ana is only risk loving.
Therefore, the correct option is D.
It’s B. Using the money as a down payment on a house.
An opportunity cost is when you have two financial decisions and you have to choose one or the other. Whatever you don’t choose is the opportunity cost.
For example. I have 3 dollars. I can either afford a bag of chips or a bottle of coke. I choose the bag of chips. The bottle of coke is my opportunity cost.
Answer: Enterprise Resource Planning (ERP)
Explanation:
Enterprise Resource Planning (ERP) is defined as the strategy software through which operation of business are managed and processed.It uses integrated applications in system for carrying out and handling business functions.
It helps in reduction in human labor for gathering information and data by creating centralized business database for making efficient decision. Advantages of ERP are providing technological services,easy work-flow, handling core functions of business etc.
Answer: Vicarious liability
Explanation: It refers to a situation when a person is held liable for wrong actions of some other person. This doctrine is usually used in workplace contexts. If an employee do something illegal then the employer could be held liable for that employees actions, given that the action is taken in course of employment.
In the given case, Owen will be held liable as the wrongful conduct of serving alcohol to the minor is done by his employee and on his workplace.
Hence from the above we can conclude that the correct option is C.