Answer:
Division of labor
Explanation:
Division of labour, the separation of a work process into a number of tasks, with each task performed by a separate person or group of persons based on their specialization. Some people mine gold's, other turn to jewelry while others sell in Is an example of different section in the work process based on each individuals speciality and that's what division of labor is all about.
Answer:
They expanded their empire by trade.
Explanation:
The correct answer to this open question is the following.
Although there are no options attached, we can say the following.
The economic questions that are not covered in Mark's scenario could be the following.
Mark needs to ask about what its competitors might be. Direct and indirect competitors in the zone. He has to know the kind of products they are selling, their prices, offers, and promotions, so he can make business decisions.
Another question he is missing is his business plan. He needs a full business plan so he can consider all aspects and variables during the opening and the firsts years. He also needs to ask himself if he has enough resources to outlast the competitors.
Answer:
Stan's behavior demonstrates time inconsistency.
Explanation:
In Economics, time inconsistency is the change that occurs in a person's preferences over time. That change leads the person to reach a different evaluation when it comes to the costs and the benefits of a decision. In Stan's case, he seems to be prioritizing his time. He even complains that he never has enough time to finish all his homework. We can assume, from his complaint, that he wishes he had the time. Yet, at this very moment, he has chosen to watch three movies instead of doing his assignments. His current decision is inconsistent with what seems to be his preference. Clearly, he believes the benefits of watching the movies to be higher than the costs of not doing his homework. At this moment, therefore, there is an inconsistency between his preferences.
