A businessperson from the United Kingdom starts an English restaurant in Santiago, Chile. His restaurant specializes in serving authentic English breakfast and meals. The traffic in the restaurant is not increasing. One of the restaurant’s partners (a local Chilean) suggests adding a mix of English and Chilean dishes to the menu. How would the change in menu increase the traffic in the restaurant? A. It would attract excessive tax and tariff cuts. B. It would attract local labor to work in the restaurant at affordable costs. C. It would improve the overall ambience of the restaurant. D. It would improve ties with other local restaurant owners. E. It would match with the local taste and attract customers.

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

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

                                          hope it

answer utilities; more money you have to pay out ; )

answerblank(1); fixed interval; blank(2) fixed ratio;