c. exists in unlimited quantities d. must be produced by a firm 2. Michigan has an abundant supply of fresh water. However‚ an economist would consider it a scarce resource because a. water is necessary for humans ’ physical survival b. pollution will eventually destroy all life in the Great Lakes c. water is limited relative to people ’s unlimited wants d. water commands a very high price 3. The difference between a good and a service is a. that goods help satisfy unlimited wants; services
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Objective: Viability of Napster as a revenue generating company. Case in brief: Napster is a brainchild of Shawn fanning‚ launched on June 1 ‚1999 as a peer-to-peer music downloading program for college students. Napster became a one of the most popular sites on the internet‚ claiming some 15 million users in little more than a year. From the beginning‚ Napster facing so many problems from the RIAA and music industry players. Napster violated the copyrights by allowing users to swap the music recordings
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opinion‚ love goes on for a lifetime and it is unlimited. In Romeo and Juliet‚ they have found an unlimited love for eachother. They would do anything to spend time with one another and sacrifice themselves by getting in trouble with their families‚ who are enemies. In act 5 scene 1. it says “Is it e;en so? Then I clefy you stars! Thou know’st my logic. Get me ink and paper ‚ and nice post horses. I will hence tonight.” This quote is relevant to unlimited love because he is saying how he will rebel
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employees. He can take personal interest in his customers and he can meet their individual and typical needs easily and adequately. It ensures effectively and economy in the operation. (6) Benefit of Unlimited Liability: The proprietor can obtain loan on his personal credit. The liability being unlimited‚ the creditors feel secure in extending credit. (7) Prompt decision: The owner has full control over his business. So he is able to take decision promptly without consulting anybody. If more than one
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few people are involved * Personal attention can be given to company affairs and customers * Easy to set up as no special paperwork is required * Less capital required as these are generally small businesses Disadvantages * Unlimited liability puts personal possessions at risk (no matter what debt has been ran up the sole trader has to cover it) * Finance can be difficult to raise * Small scale limits discounts and other benefits of a large scale production * Prices
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Should Rapid Fire Batteries‚ Inc. continue to compete with the national distribution of automobile batteries? B. Minor Problem 1. Allison Miller’s plan of achieving national distribution comes with the challenge of offering a full‚ unlimited mileage‚ unlimited life warranty to compete with
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limited company ownership‚ as it’s a large privately run business. The key features of having a public limited company ownership is that they are able to trade on the stock market. Tesco’s type of liability is unlimited as businesses in the public limited company ownerships usually have unlimited liability. The advantages of having a public limited company ownership for Tesco is that because it’s a large business and it is global which means Tesco will make large profits and has the ability to make
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| True | | | | | | | | | b. | False | | | | | | | | | | | | | | | | | | | (1.2) Partnership F M | Answer: a | EASY | . | There are three primary disadvantages of a regular partnership: (1) unlimited liability‚ (2) limited life of the organization‚ and (3) difficulty of transferring ownership. These combine to make it difficult for partnerships to attract large amounts of capital and thus to grow to a very large size. | | | | | | |
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what you want let’s say‚ to buy what you want at the quantity you want‚ you have to have the money. So another factor of economics that affects your everyday life is the distribution of the total income. Let’s say‚ your income. Your income is not unlimited. With that limited income‚ you want to buy a lot of things. You have to choose what product to buy‚ at which price and how much quantity. Now‚ let’s say that you have 13 last dollars in your pocket. With that money you can either buy a ticket for
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Partnership Advantages and Disadvantages There are distinct partnership advantages and disadvantages. Before going into partnership advantages and disadvantages and especially before starting a partnership‚ let’s first define "partnerships" and make sure we know how they operate. The particular rules about partnerships lead to the partnership advantages and disadvantages. Partnerships Defined and Explained A partnership is an agreement between two or more people to finance and operate a business
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