Answer:
d. not all resources are equally suited to producing every good.
Explanation:
The rule of increasing cost of opportunity is the principle that, when you keep increasing the development of one item, the cost of opportunity of creating the next unit rises. It occurs just as you redistribute resources to create one product which was ideally suited to create the initial product.
Answer:
The answer is Late-mover disadvantages
Explanation:
A late mover is a company that enters a business some time after the business pioneers and early followers.
From the question above, Galaxy Ventures is a late mover in the low-cost housing business. They were at a huge disadvantage, and this includes:
- First of all, lack of customer loyalty and substantial dividends (from the question).
- The pioneers and early followers can set the business standards which may be difficult for a late mover to follow.
- The pioneer can easily create entry barriers that a late-mover might find difficult to break.
Answer:
grocery store - last choice
Answer: b. Access to additional knowledge and expertise.
Explanation:
One of the advantages of opening a limited company be it private or public, is the additional knowledge that the other shareholders would bring on board.
In the case of a private company, the new shareholders would be from various backgrounds and would have knowledge on how to grow the business and in the case of a public company, the Board of Directors are usually drawn from various industries and so will put their experience from those industries into the company thereby giving it an edge.
