Answer:
C) Provide products to the market because that is the task you have been assigned by central planners.
Explanation:
A command economy or command market is an economy where the government controls everything: production, investment, prices, and incomes.
In such a market you are assigned where to work and what to do, you are not free to decide what you would like to study and what work you would like to do. The same applies to businesses, they all depend on the government.
Answer:
Threat of substitute product
Explanation:
Threat of substitute product is one of the Porter's model that explains the impact of alternative product in a competitive market.
Alternative products are similar goods that are similar in quality and function compared to an existing product.
A customer can easily swap his choice for an alternative product more in a situation that there are favorable price differences as he believes that he will be able to derive the benefit of the goods purchased at a lower cost.
Answer:
E) All of the above are true.
Explanation:
Answer:
probability of a reliable performance = 19/20
Explanation:
If a new battery has just been installed, then the chances of failure are only contributed by the faulty microchip, which has a failure rate of 1 in 20 hours.
Therefore in 1 hour, the probability that the laptop will perform reliably is calculated as follows:
Chances of failure = 1 in 20
20 hours = 1 chance of failure
∴ 1 hour = 1/20 chance of failure
1/20 = 0.05 chance of failure
Now, let us express 0.05 as fraction:
0.05 = 5/100
Therefore in 1 hour, there is a 5 in 100 chances of failure.
But we are asked to find the probability that the laptop will perform reliably. This is simply done by finding the difference between the total chances of occurrence (100) and the chances of failure (5)
∴ Probability of reliable performance in one hour = (100 - 5) / 100
= 95/100
95/100 = 19/20