Which of the Following Is True About the Impact of Global

question 63

Multiple Choice

Which of the following is true about the impact of global competition on the business activities in the marketplace?

• A) It has shifted the focus in the marketplace from a consumer's market to a seller's market.
• B) It has increased product life cycles.
• C) It has put more power in the hands of the customer.
• D) It has reduced the competitive spirit of most businesses in a marketplace.
• E) It has limited the choices of the consumers.

Understand the principles of the perfect tender rule and its implications for buyers and sellers.

Identify scenarios in which commercial impracticability can be claimed.

Recognize permissible and impermissible practices regarding tender of goods.

Calculate the measure of recovery in cases of non-delivery or nonconformity of goods.

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Definitions:

Discretionary Policy

Economic policies based on ad hoc decisions by the government or monetary authorities to influence the economy, such as changes in spending or taxation.

Inflationary Expectations

The anticipation by consumers and businesses of future inflation, which can influence economic behavior such as spending, saving, and investment.

Potential GDP

The maximum output an economy can produce without triggering inflation, if all resources are fully employed.

Active Approach

A strategy in investment or management that involves ongoing, dynamic decision-making and actions in order to achieve specific objectives.