• Robert is about to graduate college, and his parents tell him that because he is the first member of the family to graduate college, they want to buy him a new, but inexpensive, car. They have the money to buy the car, and Robert is excited about getting his gift. Robert owns a used car but has never owned a new car, so this will be his first. He decides to keep his used car because he had been promised a new car by his parents for his high school graduation and never got it. On graduation day, his parents tell him that they have decided to use the car money for a vacation and there will be no new car. Legal recourse?

Robert cannot successfully sue because he did not rely to his detriment on the promise.

Explanation:

Recourse refers to as an individual resort, seeks or ask from courts, other individual, manufacturer of a product, organisation e.t.c for  help or protection.

legal recourse on the other hand is  a deliberate act (action) undergone by a person, group or a corporation to find a lasting solution to legal difficulty. it comes in form of a lawsuit, Petition  or in other ways.

Promissory estoppel  can be defined as rule, doctrines or laws that has being laid down  to prevents a party from acting indifferently even when the first party promised not to, and the second party fully depend on the promise that was made and has worked towards it but in Robert case, he relied not on the detriment the promise but on his own used car.

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know