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ANTONII [103]
2 years ago
13

When consumed, many goods and services have an impact on other people not using the product. which word describes this impact?

Business
1 answer:
kherson [118]2 years ago
7 0

The substitution effect is defined as the outcome of consuming various goods and services on those who do not use them.

<h3>What do you understand about the Substitution effect?</h3>

The substitution effect is the decline in product sales that results from customers switching to less expensive substitutes when the product price increases. Alternately, the term "substitution effect" describes the shift in demand for a commodity brought on by a change in the price of the well relative to other substitutes. For instance, when beef costs increase people tend to buy more chicken or turkey. Customers purchase store-brand coffee in response to an increase in the price of premium coffee at a coffee shop. Consumers choose generic substitutes as designer prescription drug prices rise.

To learn more about the Substitution effect, visit:

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need asap plz!!! Questlon 5 of 10 Which statement best describes the idea of the law of supply? A . The supply of a product decr
Marrrta [24]

Answer:

D. The supply of a product increases as its price increases

Explanation:

Supply is the volume of a product or a service that sellers are willing to sell in the market at a stated price.  The law of supply explains the relationship between price and the quantity suppliers are willing to sell.

The law asserts that as the price increases, suppliers will supply more quantities of a product. A price decrease will cause suppliers to supply a lower quantity.  Suppliers are profits motivated. A price increase results in higher profits hence more supply.

8 0
3 years ago
Chemtec is undertaking a project that will require an upfront investment today in net working capital, and plant and equipment (
almond37 [142]

Answer:

-$300 million

Explanation:

Change in net working capital (CNWC) = $100 million

Capital Expenditures (CE) = $200 million

Assuming no depreciation expenses, the free cash flow (FCF) is given by:

FCF = EBIT*(1-tax) - CNEC - CE

Since no revenues are expected until the next year, EBIT = 0.

FCF = - \$100 -\$200\\FCF = - \$300\ million

The project's free cash flow today is -$300 million.

3 0
3 years ago
If the government changed the per-unit tax from $5.00 to $2.50, then the price paid by buyers would be $7.50, the price received
Nataly [62]

Answer: Decrease government revenue and decrease deadweight loss from the tax.

Explanation:

Decrease gov rev and decrease deadweight loss from the tax.

At AB, the government revenue will be:

= Quantity × Tax rate

= 1 × 5

= 5

The deadweight loss will be:

Deadweight Loss= 0.5 × Change in quantity × Change in Price

= 0.5 × (9-4) × (2-1)

= 0.5 × 5 × 1

= 2.5

At CD,

the government revenue will be:

= 1.5 × 2.5

= 3.75

The deadweight loss will be:

= 0.5 × (7.5-5) × (2-1.5)

= 0.5 × 2.5 × 0.5

= 0.625

Based on the calculation above, both the government revenue and the deadweight loss decreases.

8 0
3 years ago
List at least 6 things your credit card company must clearly disclose to consumers.
never [62]

It is important to review the credit card disclosure for information on APRs, Penalties, Grace periods, Minimum financing charges, Calculation methodologies, and Fees.

An explanation of all the fees, charges, interest rates, and conditions that a consumer can encounter when using the credit card is contained in a credit card disclosure. The legislation requires disclosure of this information by organizations that provide credit cards. The disclosures on credit cards offer clear information about costs and charges. They also encourage rivalry. To allow consumers to evaluate credit cards more effectively, it is legally necessary of all credit card companies to give the same price information. They can pick the one that better serves their tastes in terms of price.

The interest rate that a client will pay on outstanding balances is the most obvious example of a cost listed on a credit card disclosure. Basic elements like the monthly payment deadlines will also be covered in the disclosure.

Learn more about Credit Card here:

brainly.com/question/28800758

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8 0
2 years ago
Do you believe your country would be more or less safe if every adult owned a gun?
Ulleksa [173]
I think the answer is depend on it family but for me its will become less safe because they have the children
4 0
4 years ago
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