Markets provide the efficient amount of a good or service when <span>externalities and public goods are absent.
Externalities in this case refers to an unpredictable occurence such as natural disasters, and public goods refers to the goods that given from the government for lower or higher than the market price</span>
Prices communicate info and provide incentives to buyers and sellers. And sometimes there negotiating involved. High prices are signals to producers to produce more and buyers to buy less. Low prices are signals for producers to produce less and for buyers to buy more.
Answer: C. Perceived Value
Explanation:
When we speak of Perceived value, we speak of how a customer evaluates a good or service in relation to how well it served them especially in relation to similar good or services.
It is essentially the customer, ranking a good or service in terms of how well they feel it fulfilled it's intended purpose.
When guests to an Establishment come with expectations for instance, how well the guests think these expectations are met (perceived Value) is what determines the overall satisfaction of the guest.
Hence the formula, Guest expectations + Perceived Value = Guest Satisfaction
Answer: forced distribution method
Explanation:
JUST DID IT
<h2>Joshua would lose and Sue would benefit from unanticipated inflation.</h2>
Explanation:
- Both Joshua and Sue are associated with fixed pension and fixed interest respectively.
- Now the value of money goes down due to inflation
- So to live as usual, Joshua need to spend some extra money. But considering the fixed income, it's a lose to Joshua
- Whereas Sue is associated with fixed interest of mortgage. She is benefited because, though the inflation has changed the value of all other products, but the fixed interest rate does not change.
- "Fixed-rate mortgage holders are inflation winners", says "Thoma, professor of economics at the University of Oregon"
