A Gantt chart is s special type of bar chart
Answer:
Sunk cost
Explanation:
The sunk cost is the cost already incurred that will not be recovered in the future. Plus, it's also called past expenses.
This expense is not considered at the time when the decisions are taking and it should be neglected as it is not relevant at the time of the decision-making process
In the given scenario since the amount already spent for a movie ticket and for popcorn and we know that we cannot recover now so it would be termed as a sunk cost
In competitive market equilibrium, the allocation of the social surplus is such that no individual can be made better off without making someone else worse off.
The phrase "competition equilibrium" refers to an equilibrium condition when the firm's goal of maximising profits and the customers' goal of maximising utility both aspire to reach an equilibrium price as a result of freely determined prices.
According to the theory of competitive equilibrium, the firm's supply of the product is equal to the market's demand for that same amount of the product. It is a circumstance in which neither the buyer nor the seller can strengthen their bargaining position with regard to the goods being sold.
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Answer:
b. Starbucks did not factor in the international dimension of the external environment
Explanation:
Starbucks was guilty of ethnocentrism because they were negligent in not evaluating or performed inadequate evaluation of the culture of French people and may have assumed erroneously due to preconceptions originating in the standards and customs, that the whole of Europe had the same culture.
Whereas the English and German people could grab a coffee on the go, the French prefer to sit and chat over coffee, and this fact was obviously ignored at the product launch stage.
The private market will produce more than the economically efficient output level. Also when there is a negative externality then the cost to producers will be less than the cost to society. Remember that a negative externality is a cost that is suffered by a third party as a result of an economic transaction. Also have in mins that externalities lead to market failure<span> because the price equilibrium </span>does<span> not reflect the true costs and benefits of a product.</span>
