All categories

2 years ago

If the price of a product increases, the demand for the resource used in producing that product decreases.

1 answer:

6 0

Economists call this the law of demand. As the price of a product increases, the quantity demanded decreases (but the demand itself remains the same). If the price falls, the quantity demanded will increase.

Resource Prices – Rising resource prices lead to a decrease in supply or a leftward shift in the supply curve. Falling resource prices lead to an increase in supply or a rightward shift in the supply curve.

An increase in demand shifts the demand curve to the right and a decrease in supply shifts the supply curve to the left.

A decrease in demand leads to a decrease in the equilibrium price. Less quantity to deliver. An increase in supply leads to a product decrease in the equilibrium price, all other things being equal. Demand increases.

Learn more about resources at

brainly.com/question/1046299

#SPJ4

You might be interested in

The situations presented here are independent of each other.

rjkz [21]

Answer:

a) Pelfer Corporation redeemed $140,000 face value, 9% bonds on April 30, 2014, at 101. The carrying value of the bonds at the redemption date was $126,500. The bonds pay annual interest, and the interest payment due on April 30, 2014, has been made and recorded.

Dr Bonds payable 140,000

Dr Loss on retirement of bonds 14,900

Cr Discount on bonds payable 13,500

Cr Cash 141,400

Since the carrying value of the bonds was less than the redemption value, the company will incur in a loss.

b) Youngman, Inc., redeemed $170,000 face value, 12.5% bonds on June 30, 2014, at 98. The carrying value of the bonds at the redemption date was $184,000. The bonds pay annual interest, and the interest payment due on June 30, 2014, has been made and recorded.

Dr Bonds payable 170,000

Dr Premium on bonds payable 14,000

Cr Cash 156,400

Cr Gain on retirement of bonds 27,600

Since the carrying value of the bonds was more than the redemption value, the company will incur in a gain.

4 0

3 years ago

uncertainty avoidance (e.g., Greece, Portugal, and Uruguay) is associated with a need for structure, avoiding differences, and v

hoa [83]

Answer:

B. Higher, lower

Explanation:

Uncertainty avoidance refers to how tolerant is the society in respect to ambiguity and unpredictable things. High uncertainty avoidance cultures don't like uncertainty and try to control this through laws and rules. Low uncertainty avoidance cultures feel comfortable with uncertainty and people tend to be tolerant to changes and have few rules.

According to that, the answer is that higher uncertainty avoidance (e.g., Greece, Portugal, and Uruguay) is associated with a need for structure, avoiding differences, and very formal business conduct governed by many rules, whereas a lower uncertainty avoidance (e.g., Singapore, Jamaica, and Hong Kong) is characterized by an informal business culture, acceptance of risk, and more concern with long term strategy and performance than with daily events.

4 0

3 years ago

Applying the concept of opportunity cost to the pollution of a lake, an economist probably would conclude that: a. no pollution

mrs_skeptik [129]

Answer:

d. pollution should be eliminated as long as the benefit from a cleanup exceeds the opportunity cost.

Explanation:

Opportunity cost is defined as the forgone cost of doing a particular activity. If you were not undertaking this activity what would you have gained by doing something else?

In this case as long as the benefit from cleaning up the pollution is greater than the opportunity cost (pollution) it should be undertaken.

5 0

3 years ago

Hey...tal.k anyone ......

DiKsa [7]

..................

Hello.

8 0

3 years ago

Read 2 more answers

Commercial banks, savings and loan associations, and credit unions Multiple Choice

Phantasy [73]

Answer:

The correct answer is letter "D": accept deposits and make loans.

Explanation:

Commercial banks are the most common financial institutions there are allowing people have access to<em> deposits, loans, Certificate of Deposits (CDs), mortgages, credit cards, </em>and <em>mutual funds </em>among a wide variety of investment and credit instruments.

At a lower level, savings and loan associations and credit unions offer deposits and loans but the first ones share the money pooled among its members who share profits and credit unions are non-profit entities mainly formed by employees of the same organization.

7 0

3 years ago