Determine Whether the Following Transactions Involve Spot Exchange, Contracts, or Vertical

question 46

Essay

Determine whether the following transactions involve spot exchange, contracts, or vertical integration.
a.A major oil company refines gasoline from crude oil produced by oil wells that it owns.
b.Transcontinental, an interstate natural-gas pipeline, has a legal obligation to purchase a specified amount of gas per week from a well owned by Fred Smith in Enid, Oklahoma.
c.A cabinetmaker purchased a dozen wood screws from the local hardware store.
d.An electric utility purchases coal from an underground mine.

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Definitions:

Interpersonal

Relating to interactions or relationships between people.

Analytical

Analytical refers to the ability to examine and break down complex information or problems into smaller parts or basic principles for understanding or solving.

Triarchic Theory

A theory proposed by Robert Sternberg, positing that intelligence consists of analytical, creative, and practical components.

Robert Sternberg

An American psychologist known for his theory on intelligence and creativity, which includes the triangular theory of love.