Answer: net operating income
Explanation:
The non-price determinant of the number of sellers in the market is causing the curve to shift
Demand curve shifts occur when demand determinants other than price change. It occurs when the demand for goods and services changes, even if the price does not change.
To understand this, we first need to understand what the demand curve does. Record the demand plan. This is a detailed chart showing the number of units purchased at each price. It follows the law of demand that people buy fewer units as prices go up. Unless nothing else changes, a business principle is called ceteris paribus. This means that all demand determinants other than price must remain the same.
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Answer:
Costs that have already been incurred
Explanation:
Sunk costs are costs already incurred which are irrecoverable. These costs will stay the same irrespective of business actions and are also not considered for business decision in the future as they are deemed irrelevant .
If an organization wants to decide on business actions, they make use of relevant costs as they are cost meant for the future and will still be incurred. Revenue and cost that varies are only considered by organization to make a decision.
Example of sunk cost is money spent on rent. This money incurred cannot be recovered once it has been paid.
Answer:
stable because at this price the quantity demanded equals the quantity supplied.
Explanation:
Price can be defined as the amount of money that is required to be paid by a buyer (customer) to a seller (producer) in order to acquire goods and services. Thus, it refers to the amount of money a customer or consumer buying goods and services are willing to pay for the goods and services being offered. The price of goods and services are primarily being set by the seller or service provider.
In Economics, there are primarily two (2) factors which affect the availability and the price at which goods and services are sold or provided, these are demand and supply.
The law of demand states that, the higher the demand for goods and services, the higher the price it would be sold all things being equal. On the other hand, law of supply states that the higher the price of goods and services, the lower the supply.
Generally, the equilibrium price is generally said to be stable because at this price, the quantity of goods or services demanded is equal to the quantity of goods or services supplied to the consumers.
Answer:
A drug store is a type of business that is likely to do well even in an economic recession.
This is because drug stores sell an essential good, that often has a high price, and that is needed by many people, specially those who suffer from chronic diseases.
In other words, people will likely reduce their consumption of many other goods before reducing their consumption of prescription drugs.
