Chevrolet has begun producing a car known as the wildfire. chevrolet signed contracts with its suppliers for fixed priced steel to build the car. the first year's sales have been much higher than expected. when chevrolet returns to its steel suppliers for more steel, the steel suppliers will charge chevrolet

Evelyn would like to open a small business that is categorized as a being in the distribution industry. to do this she could open a establishment.

Which of the following best describes vertical integration? a. produce goods or services previously purchasedb. develop the ability to produce products that complement the original productc. develop the ability to produce the specified good more efficiently than befored. build long term partnerships with a few supplierse. sell products to a supplier or a distributor

Brian has just finished college. he wants to set up a small business to make and sell fireworks. he registers his company and acquires a license from the government. he finds that most of his competitors are selling fireworks at an extremely low price. he would like to make more money, so he decides to innovate and develop better fireworks. he sells his fireworks at a higher price, and they are a huge hit with the customers. after a few years, he earns enough profit to set up a bigger fireworks factory that complies with the government’s health and safety regulations. he even starts exporting fireworks overseas. which type of economy does this scenario describe?