Changing prices to attract customers is most difficult in a "<span>purely competitive market"
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Answer:
The temporary unemployment resulting from such sectoral shifts in the economy is best described as frictional unemployment.
This is because it is temporary and people in the affected sector could opt for jobs in other performing sectors of the economy.
Explanation:
Suppose the world price of cotton falls substantially, the following scenario will ensue.
The demand for labor among cotton-producing firms in Texas will reduce .
The demand for labor among textile-producing firms in South Carolina, for which cotton is an input, will also decline .
The temporary unemployment resulting from such sectoral shifts in the economy is best described as frictional unemployment.
Frictional unemployment is seasonal employment that could occur when there is no demand or work period is completed unlike structural unemployment that can last for long.
It is a temporary unemployment situation because workers in the cotton industry could opt for jobs in other performing sectors of the economy.
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<span>Who is better off: a person using credit cards or a person refraining from any loans? A person using credit cards is better off </span>from a person refraining from any loans. A person using credit can often purchase more and have more flexibility with their money over someone who only uses cash. There are items and services that do not take cash as a form of payment, so without a credit card the person can not make the purchase.
Answer
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Step-by-step explanation:
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