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snow_tiger [21]
1 year ago
13

in your own words explain price elasticity. focus on explaining the difference between products that have elastic demand and tho

se that have inelastic demand. what types of products typically have inelastic demand? why? what types of products typically have elastic demand? why? for the following products, indicate if your demand for the product is elastic or inelastic and why. gasoline (all prices have increased 50% - elastic or inelastic?) streaming services like nextflix and hulu (imagine that all service providers have doubled their prices – elastic or inelastic?) college courses (all schools have doubled their prices – elastic or inelastic?) allergy medicine (all products in this category have tripled their prices – elastic or inelastic?)
Business
1 answer:
german1 year ago
8 0

The price elasticity of demand measures the change in consumption of a product in response to a change in its price.

<h3>Describe the types of price elasticity of demand.</h3>

If the price elasticity of a good is infinite, it is perfectly elastic (if demand changes substantially even with minimal price change). If the price elasticity is greater than one, the good is elastic; if it is less than one, the good is inelastic. A good is perfectly inelastic if its price elasticity is 0 (no amount of price change causes a change in demand). Unitary elasticity exists when price elasticity is exactly one (a price change causes an equal percentage change in demand). The presence of a substitute for a product influences its flexibility. If there are no good substitutes and the product is required, demand will remain constant even if the price rises, making it inelastic.

To know more about elasticity visit:

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One significant contemporary management challenge is:_________
ddd [48]

The internationalization of business is a big managerial problem.

Just what is globalization?

The phrase "globalization" describes the increasing interconnection of the world's economies, cultures, and people.as a result of cross-border trade in products and services, technology, and flows of capital, people, and information. Over many years, nations have developed economic alliances to aid in these movements. However, the phrase became well-known in the early 1990s, following the end of the Cold War, since these cooperative agreements influenced contemporary daily life. This guide uses the phrase more specifically to refer to global commerce and some investment flows among advanced economies, with a primary focus on the United States.

Complex and politically fraught, globalization's wide-ranging repercussions are widespread.

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7 0
1 year ago
Today's US banking system ensures that if everybody who has money on deposit in the banks
zheka24 [161]

Answer:

False

Explanation:

Not all depositors will get their cash. The FED, which is the body that regulates commercial banks, requires the banks to keep only a small percentage of customers deposits in their custody. The percentage maintained in the banks is known as the reserve.  The percentage of the reserves requirement varies with time.

If all depositors decide to withdraw at once, they can not get their money as only the reserve amount will be available in the banks. Commercial banks usually lend out the rest of the customers' deposits to make profits.

6 0
3 years ago
This table shows Lucas’s budget from last month. He also included his actual expenses after the month ended. Which of these chan
polet [3.4K]

Answer:

Less for income

Less for food

less for discretionary spending

Explanation:

Luca has prepared the budget for the month. He has included actual expenses in the budget to compare the budget with actual expenses. He has used flexed  budgeting technique to incorporate his savings and expenses. He should keep less income, less for food and less for discretionary expenses in the new budget.

8 0
3 years ago
Thad, Jamarcus, and Willy have been working for Davidson International each for three years. While the trio started together as
ludmilkaskok [199]

Answer:

A) cognitive

Explanation:

Since in the question it is mentioned that three persons are working for DavidSon international. All three have in their positions in the company but Willy received a small raise after considering the evaluation of  last performance

In case when Thad complained regarding the raise so he was experiencing a cognitive attitude that deals in belief, knowledge, thoughts of a particular person

hence, the correct option is A.

4 0
4 years ago
How do your financial choices impact the economy?
Slav-nsk [51]
You become broke cause you don't pay your bills on time or car notes that's why the economy is failing
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5 0
4 years ago
Read 2 more answers
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