1. The fundamental problem of economics is: A. to establish an equitable system of personal and business taxation.
B. to establish a democratic political framework for the provision of social goods and services.
C. the scarcity of factors of production relative to the unlimited wants of humans.
D. to achieve a more equitable distribution of money income in order to mitigate poverty.

Licensing is perhaps the easiest method of entering into international trade. another method of entering international trade, which can be relatively low risk, is which opens several levels of involvement to company

Consider two similar industries, portal crane manufacturing (pcm) and forklift manufacturing (flm). the pcm industry has exactly three incumbents with annual sales of $800 million, $200 million and $100 million, respectively. the flm industry has also exactly three incumbents, with annual sales of $500 million, $450 million and $400 million, respectively. which industry is more likely to experience a higher level of rivalry?

Later movers do not face: entrenched competitors. reduced uncertainty over technologies. high growth markets. lower market uncertainty.