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Goryan [66]
2 years ago
10

You learnedthat changes in demand are caused by non-price determinants of demand that can be remembered by the acronym TRIBE. Yo

u learned
that changes in supply are caused by non-price determinants of supply that can be remembered by the acronym ROTTEN. List 5 non-price
determinants of either demand or supply that cause changes in the market. To receive credit, you have to indicate whether the non-price determinant
you listed affects demand or supply.
Business
1 answer:
Anna [14]2 years ago
4 0

Some non-price determinants that cause changes in the market are:

  • Income.
  • Future price expectations.
  • Price of substitute goods.
  • Price of complementary goods.
  • Changes in tastes and preferences.

<h3>What is a Non-Price Determinant?</h3>

This refers to the factors that are not related to the price that causes a change in the need for a product which shifts the demand curve.

Hence, we can see that these non-price determinants are important as they have an effect on the demand of a good such as availability of a substitute good, its price, etc.

Read more about non-price determinants here:

brainly.com/question/26875049

#SPJ1

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You own a house that you rent for $1,400 per month. The maintenance expenses on the house average $260 per month. The house cost
Anni [7]

Answer:

$232,760

Explanation:

you must first determine the market value of your house = appraisal value - sales expenses = $253,000 - $20,240 = $232,760

the market value of the house is your opportunity cost of using the house as an office.

opportunity costs are the extra costs or benefits lost resulting from choosing one investment or activity over another alternative.

3 0
3 years ago
Your uncle has just purchased a wheat farm and wants your advice on how he should price his product. Explain to your uncle the c
Katena32 [7]

Answer:

the wheat firm is perfectly competitive

A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.  

In the long run, firms earn zero economic profit.  If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.  

Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.  

he is a price taker and the price of his wheat which would be equal to equilibrium price would be determined by market forces

if he sells at the market price, he would sell all his wheat

Explanation:

If the uncle sells above equilibrium price, he would not sell any wheat

he cannot sell below equilibrium price because he would make losses

4 0
3 years ago
Under the _____, employers can be liable for current pay differences that are a result of discrimination that occurred many year
s344n2d4d5 [400]

Correct/Complete Question:

Under the _____, employers can be liable for current pay differences that are a result of discrimination that occurred many years earlier.

A. Sarbanes-Oxley Act

B. Lilly Ledbetter Fair Pay Act

C. Equal Pay Act

D. Fair Labor Standards Act

Answer:

B. Lilly Ledbetter Fair Pay Act

Explanation:

In 2009, the Lilly Ledbetter Fair Pay Act was enacted by the US congress. The act was aimed at worker protection against discrimination in pay thus giving individuals who are facing such situation a way to seek redress or rectification according to the federal anti discrimination law.

Cheers.

6 0
3 years ago
What should be selected in the Payor Type field in the Deposit dialog box when entering capitation payments
natita [175]

Answer:

Capitation

Explanation:

Capitation should be selected. Capitation payments can be explained to be defined, periodic as well as per-patient payments that are usually on a monthly basis for every person who has entered into a capitated insurance plan. Such that, a provider can get paid per-month or per-patient, irrespective of the number of times that the patient came in for treatment or required service.

7 0
3 years ago
Rotorua Products, Ltd., of New Zealand markets agricultural products for the burgeoning Asian consumer market. The company’s cur
LiRa [457]

Answer:

Trend Analysis helps to interpret the changes in account balances over certain period of time. Trends in percentages is presented in the table below.

* Excel solution is attached for your reference.

Explanation:

For Rotorua Product Ltd, data trends (in percentages) can be computed using the following formula:

                       Trend in % = (Current Year ÷ Base Year) × 100

                          where: Base Year is assumed to be Year 1

                                      Year 1 Year 2  Year 3   Year 4     Year 5

Sales                                 100.0% 107.9%     112.0%   121.0%     127.7%

     

Current Assets    

Cash                                   100.0% 132.5%   112.6%     90.1%      95.4%

Accounts receivable, net   100.0% 102.9%   107.1%     119.7%      136.8%

Inventory                           100.0% 108.3%   104.2%     109.9%     113.6%

Total current assets           100.0%  108.1%    105.6%     111.8%      119.9%

     

Current liabilities                   100.0% 108.5%   103.7%     105.5%      128.0%

Download xlsx
5 0
4 years ago
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