Answer:
Private business freedom : Capitalist or Market Economy. Henry is more likely in Socialist Economy.
Explanation:
Economy type in which private sector has full freedom, un-intervened by government or state control is Capitalist or Market Economy. Profit maximisation motive & high consumer choice, sovereignity such economy's main features.
Henry's country which gives incentives to reallocate production choice 'what to produce' (from consumer goods to military goods). He has more efficient idea for work implementation, but lacks incentive (probably due to lack of creative & innovative ideas reward). These features characterise a Socialist Economy, in which government or state has supreme power over central economic decisions. Social welfare is considered priority, government monopoly curbs innovation & creativity, there is less consumer choice, sovereignity.
1,710 units
1,300 in inventory
+ 350 in transit
+ 80 on consignment
= 1730
- 20 damaged units
=1,710 units in period end inventory
Answer:
The correct answer is option A.
Explanation:
Monopolistic competition refers to the market structure where there is a large number of buyers and sellers in the market. These sellers sell heterogeneous or differentiated products in the market.
The firms are price makers and face a downward-sloping demand curve. There is a high degree of competition in the market due to product differentiation. That is why there is little difficulty in an entry into the market.
Because of product differentiation, the firms advertise their products in order to gain market share. So the existing firms in the market compete in quality, price, and marketing.
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It gives you more ideas to make the final product better than what it original product
