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Darina [25.2K]
2 years ago
8

If incomes increase during a period of expansion, goods considered to be inferior will experience?

Business
1 answer:
Olegator [25]2 years ago
5 0

If incomes increase during a period of expansion, goods considered to be inferior will experience:

  • A decrease in demand

<h3>What are inferior goods?</h3>

Inferior goods are those types of goods that consumers have little or no interest in. These goods are mostly sought after when the economy is tough and people have no option but to purchase them.

However, when the economy improves and there is an expansion, people will naturally return to the goods that they believe have superior quality. When they make this move, the inferior goods will experience a decrease in demand.

Learn more about inferior goods here:

brainly.com/question/20532958

#SPJ1

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Many socialist nations in Europe are forced to use the "value-added" tax concept to raise money that is desperately needed to su
enot [183]

Answer:

paid by consumers

Explanation:

Value added tax is a small sum of money that is added on top of the price of a service. For example, I go to a grocery to buy Washing powder which costs me lets say 10 bucks. I will have to pay VAT on the 10 bucks. the vat is a small percent added on the price so here, assuming the VAT is 10%, I will have to pay 10% of 10 bucks PLUS the original 10 bucks so in total it will be 11 bucks.

Hopefully you understand ahaha

3 0
3 years ago
Portraits. Belinda, a famous portrait painter, agreed to paint Harry's portrait for $5,000. She also agreed to paint the portrai
nasty-shy [4]

The most likely result if Fred sues Harry for the $12,000 payment is D. Fred will win because the right to receive payment could be validly assigned.

It should be noted that every contract creates its own rights and duties. Based on the information given, the obligee is Belinda.

The obligee in this case transfers the right to receive payments to a third-party who is Fred. Also, from the information, Belinda gave Fred the right to receive the payment from Harry.

Therefore, based on the above information, Fred has the right to receive payment. Therefore, if Fred sues Harry for the $12,000<em> payment</em>, he'll win.

Read related link on:

brainly.com/question/24978955

7 0
2 years ago
Jeremy had a starting balance of $122.00 in his savings passbook. He made these transactions: Deposits of $68.52 and $46.35; Wit
Alenkasestr [34]

Answer:

$122.87

Explanation

Final balance = initial balance + deposits + interest - Withdrawals

Therefore,

Given that

Initial balance = 122.00

Deposit = 68.52 + 46.35 = 114.87

Interest = 1.50

Withdrawals = 95.00 + 20.50 = 115.50

Thus,

Final balance = 122.00 + 114.87 + 1.50 - 115.50

= 238.37 - 115.50

= 122.87

Final balance = $122.87

4 0
3 years ago
Read 2 more answers
Tom’s T.V.’s sold one of their premium products, a new 60" flat screen 3D T.V. to a customer who paid $2,000 in cash. How would
nikdorinn [45]

Answer:

Impact of $2,000 sale on accounting equation is as follow:

Accounting Equation

 Asset             =        Equity           +      Liabilities

Cash+2000        Sales+2,000            No Effect

As cash an asset for the business, so the receipt will increase the balance of assets of the company. The revenue is ultimately adjusted to equity in the form of net income after deducting all the expenses. This transaction will result in increase of equity balance by the sale amount.

Explanation:

The Following journal Entry will support my answer:

Sales amount = 2,000

As this transaction is made on cash basis the following Journal entry will be recorded for this event.

                   Dr.          Cr.

Cash       $2,000

Sales                    $2,000

5 0
3 years ago
1.) What are the three personal traits that help you most in the business world?
Kamila [148]

Answer:

Curiosity. Technology develops at different rates and in different ways around the world.  

A Sense of Impatience. Entrepreneurs need impatience in order to recognize inefficiencies  

Sociability. It’s important for any entrepreneur to have a good network of like-minded people to

Explanation:

8 0
3 years ago
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