The right thing to do when a conflict of interest arises among business partners is to find a compromise.
<h3>What is a Conflict of Interest? </h3>
This refers to the situation where an individual's personal interests are in conflict with his judgments and actions in a workspace.
Hence, we can see that although your question is incomplete, I can infer that there is a conflict of interest among business partners and it would help to retain the autonomy of the partners if a compromise is reached.
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Answer:
Consider the following explanation
Explanation:
A sports team t-shirt:
Correct Answer:
Rivalrous and Excludable
(Sports team T-shirt is private good that comes at a cost to make others to pay before wear.
The air we breathe:
Correct Answer:
Nonrivalrous and nonexcludable
It is a pure public good that can be used by many at the same point without any cost paid.
Atlantic Bluefin Tuna in the Mediterranean Sea:
Correct Answer:
Rivalrous and nonexcludable
One Tuna can be caught by one person only but entering into the area cannot be prevented.
A toll road in normal traffic:
Correct Answer:
Nonrivalrous and excludable
It is a public system that can be used by many at a time. But, everyone has to pay the toll tax before using it.
Answer: Accounting
Explanation:
Accounting is the system in which the financial transaction of the business are recorded and interpreted for the communication in the business.
By using the accounting process, the financial information are analyzed or summarized that helps the manager in an organization for the decision making process.
The accounting perform an efficient function by converting all the raw data into the source form documents such as bills and receipts.
Mass customization is a step beyond a build to order strategy, because although the latter allows for good choice with quick delivery, it does not allow customers unlimited options for features.
<h3>What is Mass customization?</h3>
This can be defined as the terminology that is used to refer to the act of creating goods that are affordable in a way that it would meet with the specific needs of the people that needs them.
This strategy is known to be more than just the build to order strategy. It does not provide limited options.
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