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2 years ago

Economists believe that people's wants are:

Business

1 answer:

Cloud [144]2 years ago

3 0

Economists believe that the wants of people are infinite.

<h3>What is want in economics?</h3>

These are the basic needs of people. In the field of economics it is believed that the wants of people are too numerous.

People have so many needs and the resources that are required to fulfill them are limited. This is the concept of scarcity.

Read more on want and scarcity here:

https://brainly.in/question/2337492

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Laws designed to promote competition and prevent the formation of monopolies are known as _______ laws

juin [17]

<span>Laws designed to promote competition and prevent the formation of monopolies are known as _antitrust_ laws.
</span>
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6 0

4 years ago

The costs and revenues associated with two alternatives are listed below:

Fudgin [204]

Answer:

The correct option is A,alternative 2 because it has a higher profit

Explanation:

The profit analysis of both alternatives is done below:

Alternative 1 Alternative 2

Projected revenue $100,000 $125,000

Costs:

unit level costs $20,000 $30,000

Batch-level costs $20,000 $25,000

Product-level costs $15,000 $15,000

facility-level costs $10,000 $10,000

total costs $65,000 $80,000

Profit(revenue-total costs) $35,000 $45,000

The correct answer is option A,as option 2 has a higher profit of $45,000 compared to alternative 1 of $35,000

6 0

3 years ago

Blake eats two bags of potato chips each day. Blake's hourly wage increases from $9 to $15, and he decides to stop eating generi

max2010maxim [7]

Answer:

-4 units

Explanation:

Using the midpoint method, Blake's income elasticity of demand for generic potato chips is given by the change in demand (D) multiplied by his average income (I), divided by the change in income multiplied by the average demand:

$E=\frac{\Delta D}{\Delta I}*\frac{I_{avg}}{D_avg}\\E=\frac{0-2}{15-9}*\frac{\frac{9+15}{2}}{\frac{2+0}{2} }\\E=-4\ units$

Blake's income elasticity of demand is -4 units.

8 0

3 years ago

An entrepreneur is a person who owes money to a bank or other financial institution

horsena [70]

That statement is False.

An Entrepreneur is a person who sets up a business or businesses, taking on financial risks in the hope of profit.

4 0

3 years ago

In comparison to the buying pattern of final consumers, the purchasing behavior of organizational buyers is

Jet001 [13]

Answer:

first and foremost influenced by the economic needs that they have for quality and reliability.

Explanation:

Based on the information provided within the question it can be said that the the purchasing behavior of organizational buyers is first and foremost influenced by the economic needs that they have for quality and reliability. Since consumers want to purchase a product they can trust that will not fail after purchase and will get the job that it is suppose to do, done.

3 0

3 years ago

Read 2 more answers