Answer:
Income elasticity of demand for snarfblatts is 1.
Explanation:
the consumer spends 20% of the income on snarfblatts, thus the percentage change in consumption of the snaerblatts is equal to the percentage in income, that is:
Elasticity = % change in demand of snarfblatts/% change in income
= 1
Therefore, Income elasticity of demand for snarfblatts is 1.
There was a rise in human population.
The term which describes the shipping who directly supplies from the supplier to the end consumer rather than from the seller, saving both time and reshipping costs is "Drop Shipping."
<h3>What is drop shipping?</h3>
When a vendor creates a website & sells items that they do not maintain in stock, this practice is known as drop-shipping.
Some key features of drop shipping are-
- A third party, such as a manufacturer, another store, or a wholesaler, receives an order from the seller and ships the products straight to the customer.
- A rapidly spreading trend involves online middlemen who charge you more money by keeping the difference between both the wholesale and prices.
- Although drop-shipping is not prohibited, there is a lot of potential for issues and abuse on the part of both customers and sellers.
- Following an online purchase, the drop-shipping company sends the ordered item directly to the consumer.
- It provides both big and small businesses with a way to source goods, earn some extra cash, and free up some storage space.
To know more about drop shipping, here
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Answer:
The aggregate demand will fall
Explanation:
The aggregate supply measures the quantity of real GDP that can be supplied by in the economy at different price levels. it measures planned output if both prices and average wage rates can change, the Long run aggregate supply curve is assumed to be vertical (this means it remains constant when the general price level changes).
The leftward shift in aggregate supply means that at the same price levels the quantity supplied of real GDP has decreased. This is mostly due to natural disasters or other supply shocks like economic depression, when there is leftward shift in aggregate there would be fewer workers available to produce goods at any given price.
Answer:
Good rental history and employment stability are two things that help to bulid a good credit score.
