Explanation:
To understand the basic philosophy behind the four factors of production
Land - Labor - Capital - Entrepreneurship
Lets consider an example:
Someday, just finishing your college, you think of starting a pizza business and you start selling pizza's one day. You might end up making a Pizza brand like Pizza Hut.
Here, in this example, to start your pizza shop, you need a place or area, this is known as Land factor. When you start making pizza, you need someone to work in that shop, (or if you doing it by yourself too) there should be at least some human being doing it, this factor is referred as Labor. To start the pizza shop, you need to buy the equipment, taking a shop on rent, or buying it, renovation of the shop etc. All of these things need, of course, Money, which is referred as Capital here. The idea you going to start this business, the courage to make it, definitely makes you an Entrepreneur, in utilizing all other factors effectively and efficiently. Therefore, this is linkage between these four factors of production, and how they fit together.
Answer:
D perfrom market testing on each product idea
and $2000 for car repairs. Moser gave Chang a check for $3000. Then she stopped payment on it,
claiming duress
Does Chang have a legal right to sue Moser for damages due to the accident?
Can Moser get out of this contract due to duress? Explain why?
Answer:
A. Chang has the legal right to sue for damages.
B. Moser cannot get out of the contract due to duress.
Explanation:
Chang has the legal right to sue for damages that occurred due to the accident, this is because it is stated that Moser negligently collided with Chang's car.
Moser cannot get our of the contract due to duress because Chang did threaten to sue Moser for what directly had to do with the incident. If Chang had threatened to sue Moser for something else entirely, then Moser can claim duress. Also, Moser can't claim duress, especially since she had no insurance.