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2 years ago

Law of demand is defined as the relationship between price and quantity from a buyer's perspective.

Business

1 answer:

monitta2 years ago

7 0

It is true that the Law of demand is defined as the relationship between price and quantity from a buyer's perspective

<h3>What is law of demand?</h3>

The law of demand states that that as the price of a good increase, the quantity demanded will fall and as the price of a good falls, the quantity demanded also rise.

Here, consumers tend to buy more goods and services as the price go down or fall, hence more of a product will be purchased at lower prices than at higher prices.

Therefore, the Law of demand is defined as the relationship between price and quantity from a buyer's perspective

Learn more about law of demand here: brainly.com/question/1078785

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A) credit union is a group of people who agree to save their money together and to make loans to each other at a relatively low rate of interest.

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3 years ago

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Strait Co. manufactures office furniture. During the most productive month of the year, 3,300 desks were manufactured at a total

Elza [17]

Answer:

Using the high-low method of cost estimation, total fixed costs are $47,020

Explanation:

Cost at highest level of activity = $82,000.00

Cost at Lowest level of activity = $59,000.00

Highest level of activity = 3,300

Lowest Level of activity = 1,130

Variable cost per unit = $(82,000 - 59,000) ÷ (3,300 -1,130)

Variable cost per unit = $23,000 ÷ 2,170

Variable cost per unit = $10.60

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3 years ago

A wedding party hired a sole proprietorship to cater their wedding. In this situation the sole proprietorship is a partnership,

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Answer:

False

Explanation:

A sole proprietorship is owned and managed by a single person. The owner is responsible for all the decisions and actions of his or her business. The owner may hire workers to assist in running the business. The workers remain workers and not partners in the business.

The law does not distinguish between the business and the owner. Any liabilities arising from the business are considered to be the owner's liability. In this wedding situation, the sole proprietor is solely responsible for the mistakes of his assistant.

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3 years ago

During the current year, Tachnic, Inc., made cash sales of $289,000 and credit sales of $472,000. During the year, accounts rece

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Answer:

(a1) $761,000

(a2) $504,000

(a3) $793,000

Explanation:

(a-1) Amount of net sales reported as revenue in the income statement:

= Cash sales + Credit sales

= $289,000 + $472,000

= $761,000

(a-2) Amount of cash received from collecting accounts receivable:

= Credit sales + Decrease in accounts receivable

= $472,000 + $32,000

= $504,000

(a-3) Amount of cash received from customers:

= Cash sales + Amount of cash received from collecting accounts receivable

= $289,000 + $504,000

= $793,000

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3 years ago

The Value of a Bond is tied to the Dividend rate.<br><br> True or false

PilotLPTM [1.2K]

<u>Answer:</u> False. The Value of a Bond is not related to the Dividend rate.

<u>Explanation:</u>

Bond rates are inversely related with the interest rates in the market and not dividend rates. Bonds yield interest for the investment and not dividends. Dividends are paid for shares. Dividend rates affects the share price and not Bond value in the market.

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3 years ago