With the increase or decrease of the prices of substitutes, the demand of the substitute goods also decreases or increases.
Explanation:
Substitutes are the products which can be used in place of another product. For example, a cup of coffee can be taken instead of a cup of tea, or Coke can be taken instead of Pepsi.
Change in the price of Substitutes can affect the demand of other substitutes. If the price of a product increases, then the demand of its substitute increases, and if the price of the product decreases, then the demand of its substitute also decreases.
We can understand this relation with an example. Suppose the product is tea. The substitute of tea is coffee. If the price of tea increases, then people will definitely move towards the substitute, which is coffee. This will increase the demand for coffee. Similarly, if the price of tea decreases, people will buy more tea than coffee, which will decrease the demand for coffee. This is how the substitutes affect demand of each other.
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Erik Homberger Erikson (born Erik Salomonsen; 15 June 1902 – 12 May 1994) was a German-American developmental psychologist and psychoanalyst known for his theory on psychological development of human beings. He may be most famous for coining the phrase identity crisis.
Answer:
All data are unknown with decision making under uncertainty.
Explanation:
There are various assumptions used by a LP allocation problem and they are; any return from an allocation is not dependent of other allocations; it is possible to compare returns from varying allocations; total returns equals the sum of all returns that all the activities yielded. The only option that is not an assumption used by a LP allocation problem is "All data are unknown with decision making under uncertainty."
Answer:
Early Adulthood
Explanation:
The Early Adulthood phase comprises a period of life that goes from twenty to forty years of age, characterizing itself as a stage of great strength and vitality of the human being. However, the early adult individual is in a process of affirmation and testing of their potential, in the face of social and personal confrontations.
