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 price, 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. ramos 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. reset next

Explanation:

1. Hillary is considering all costs related to buying an oven (price, maintenance, power - consumption, loan terms) to get the best long - run value. This is an example of calculating the total cost of ownership.
2. Ramos International raising money by selling company stock and getting new shareholders is an example of incorporation as it is a way for a company to raise capital and change its ownership structure.
3. People prefer Maxima's protein shakes over Hercules' which forces Hercules to cut production. This shows consumer sovereignty as consumers' preferences (for Maxima's shakes) are dictating the market outcome.

Answer:

1. total cost of ownership
2. incorporation
3. consumer sovereignty