Answer:
The correct answer is option c.
Explanation:
Autarky can be defined as a situation where a nation is self-sufficient and does not trade internationally. Consumer surplus is the difference between the maximum price a consumer is willing to pay and the price he actually has to pay.
In the case of autarky, the consumer surplus id the area below the demand curve and above the equilibrium price. The producer surplus is the area above the supply curve and below the equilibrium price.
Answer: partial release clause
Explanation:
The partial release clause is regarded as a clause which provides for deeds to portions of land to be conveyed as certain percentages of the contract price are paid.
The partial release clause simply states that when the balance on a mortgage has been paid to a particular amount, the lenders will have to release a parcel.
Answer: C) Personality
Explanation:
Personality is an individuals quality that helps them succeed in life. If you improve your personality you can control stress and increase your motivation.
the answer is D, demand for food is inelastic
Answer:
d
Explanation:
A change in price leads to two effects :
- The income effect
- The substitution effect
The income effect is the change in quantity demanded as a result of a change in real income which affects the consumes purchasing power.
A car constitutes a very large part of a consumers expenditure due to its cost. Thus, the income effect for a car would be the largest
The substitution effect is the change in demand as a result of change in the price of the good compared to the price of another substitute good.
