Explain the Difference Between Primary Demand and Selective Demand

question 256

Essay

Explain the difference between primary demand and selective demand.

Understand the expectations of interviewers during job interviews.

Recognize the importance of asking questions as a job candidate.

Understand the concept of trade balances, including deficits and surpluses.

Analyze the factors influencing net exports and net capital outflow.

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Definitions:

Reimbursed

To be reimbursed means to receive repayment for money that has been spent or lost, usually as a result of conducting business or performing tasks on behalf of another.

Apparent Authority

A situation where a person appears to have been given the power to act on behalf of another, even if no actual authority was granted.

Undisclosed Principal

A principal whose identity is concealed from the third parties with whom the agent is dealing; the rights and obligations of the parties depend on whether the agent makes it clear that she is representing an undisclosed principal rather than operating on her own behalf.

Continuing Business

An ongoing enterprise that maintains its operations over time, adapting to changes as necessary to remain viable.