Economists have identified four types of competition. Perfect competition, monopolistic competition, oligopoly, and monopoly.
Answer:
a.has the right to inspect partnership books and records at all reasonable times.
Explanation:
A general partner is that partner that has responsibility for the actions of the business. The action or inaction of a general partner legally binds the business/partnership to other parties.
The general partner is also personally liable for all the business's obligations.
As such, the general partner has the right to inspect partnership books and records at all reasonable times.
The right option is a,
Goods and services are not factors of production.
Factors of production are inputs that are needed to provide goods or services. They include, land, labor, capital, and entrepreneurship.
<h2>Further Explanation:</h2><h3>Factors of reproduction </h3>
- Factors of reproduction or resources are inputs or resources that are used in the generation of goods and services with an aim of making profit.
- There are four main factors of production which include; Land, Labor, Capital and Entrepreneurship.
<h3>Land </h3>
- This refers to all the natural resources that are available to be used in the production of goods.
- These natural resources includes raw materials from the ground, non-renewable resources such as petroleum and renewable resources such as timber.
- The income or reward earned from land as a factor of production is rent.
<h3>Labor </h3>
- This refers to the manpower or work done by human beings.
- The value of labor depends on the skills, education and motivation of workers.
- The reward for labor as a factor of production is wages and salaries.
<h3>Capital </h3>
- This refers to the capital goods, that is, man-made objects that are used for production of goods and services such as machinery, equipment and chemicals.
- They also include industries and commercial buildings.
- The reward or income earned from capital goods is interest
<h3>Entrepreneurship </h3>
- It involves coming up with an idea and developing it into profitable business.
- An entrepreneur is therefore an individual who combines the other factors of production to build a business and add the supply in the economy.
- The reward or income earned by entrepreneurs is profit.
Keywords: Factors of production, labor, land, capital
<h3>Learn more about</h3>
Level: High school
Subject: Business
Topic: Factors of reproduction
Answer:
Option C
Explanation:
Through number theory, the totient function of Euler lists the beneficial entities up to the certain integer n which is generally primary to n. It is described by depicting the Greek letter phi as either f(n) or f(n), and the phi feature of Euler can also be named.
The totient equation of Euler is indeed a multiplicative equation which indicates that since two values m and n remain fairly prime. It is used to describe the RSA encryption scheme. This method issued the order of a substring of multiplier integer category n.