Question

drag the tiles to the correct boxes to complete the pairs. match each economic concept with the scenarios that illustrates it. consumer sovereignty total cost of ownership incorporation hillary needs to buy an oven for her bakery. she compares the prices, maintenance costs, and power consumption of three ovens. she compares the loan terms offered on them. finally, she settles for the one that will offer the best value for the money in the long run. ramona international wants to raise about $20 million. it sells shares of company stock in the stock market and brings many new shareholders onboard. maxima and hercules are rival companies that make protein shakes. people love maxima protein shakes because they are delicious and packaged attractively. hercules protein shakes fail to impress most people. soon, hercules has to cut production of its protein shakes and focus on other products.

Explanation:

1. For Hillary's scenario: Total cost of ownership considers all costs (purchase, maintenance, power, loan) over time to determine best value, so this matches "total cost of ownership".
2. For Ramona International: Incorporation involves selling company stock to raise capital and having shareholders, so this matches "incorporation".
3. For Maxima and Hercules: Consumer sovereignty means consumers' preferences (loving Maxima, disliking Hercules) drive production decisions (Hercules cuts production), so this matches "consumer sovereignty".

Answer:

• Hillary's oven - shopping scenario: total cost of ownership
• Ramona International's stock - selling scenario: incorporation
• Maxima and Hercules' protein - shake scenario: consumer sovereignty