Answer:
B) False
Explanation:
One of the main characteristics of monopolistic competition is that many suppliers sell products that are different from one another, so they cannot be considered perfect substitutes. For example, restaurants usually operate under monopolistic competition since they all offer similar services but at the same time they are all different.
So if you like variety, then you should like monopolistic competition.
Definition of Consumer Protection Agency (CPA)
CPA is the governmental regulatory authority entrusted with the protection of consumer rights and was established by virtue of the Consumer Protection Law No. 67 in 2006 and its Executive Regulations.
Answer:
George set up standards regarding the disposal of the restaurant’s waste products and made sure they were followed.
Answer:
A company is licensing its products when it allows a foreign company to pay it a fee to make or distribute the first company’s product or service.
Explanation:
Licensing is a phenomenon which refers to the attainment of permission from a company, the licensor, to be able to produce and sell their products in their own market area.
If the company agrees to this, the lisencee usually requires for the manufacturer to pay a royalty fee to the original owner of the product in exchange for letting them use their products and brand name and etc.
Answer:
GDP is the value of the total production of final goods and services produced within a country (in this case Ireland), while Gross National Product (GNP), in this specific case, is the value of the total production of final goods and services produced by residents of the Ireland (individuals or businesses).
Since several corporations have international headquarters in Ireland due to special tax regimes, e.g. Apple, Microsoft, Google, Intel, Pfizer, FB, etc., and many of those corporations manage all their world trade (except local trade in the US) through those offices, they are very large and wealthy.
