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Mrac [35]
3 years ago
13

​________ is used to describe how changes in price affect a​ consumer's purchasing​ power, and​ ________ is used to describe how

a change in price affects the quantity demanded of a good by making it more or less expensive than substitute goods.
a. the income​ effect; the substitution effect

b. the law of​ demand; the income effect

c. the substitution​ effect; the income effect

d. the substitution​ effect; the law of demand
Business
2 answers:
baherus [9]3 years ago
8 0

D. The substitution effect/ the law of demand

The substitution effect says when the price of one good goes up, consumers will replace it with a similar less expensive good (like buying generic paper towels)

The law of demand says that quantity demanded is <em>inversley </em>related to price, so as price goes up demand goes down.

stiv31 [10]3 years ago
4 0

Answer:

d. the substitution​ effect; the law of demand

Explanation:

just took the test

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Katyanochek1 [597]

Answer:E- Earlier warning of potential problems.

Explanation:Benefits of a good communication are numerous and are listed below:

1- It gives clarity and direction.

2-Effective communication skills provide clear and defined policies. 3-Organizational communication helps organization to be successful. 4- Effective interpersonal communication skills such as listening skills, making eye contact gives boost to your personality.

5- It informs of earlier warnings of potential problems.

5 0
3 years ago
Find the APR or stated rate in each of the following cases and show calculations:&lt;?xml:namespace prefix = o ns = "urn:schemas
hram777 [196]

Answer and Explanation:

The computation is shown below:

The formula is

APR = P × {(EAR + 1 )^(1 ÷ P) - 1}

1. For semi annually

= 2 × (0.106 + 1)^(1 ÷ 2) - 1}

= 10.33%

2. For monthly

= 12 × (0.115 + 1)^(1 ÷ 12) - 1}

= 10.93%

3. For weekly

= 52 × (0.092 + 1)^(1 ÷ 52) - 1}

= 8.81%

4. For infinite

= 365 × (0.129 + 1)^(1 ÷ 365) - 1}

= 12.10%

8 0
3 years ago
After the first night of her three-night stay, ms. welk complained about the noise from the lounge on the floor below her room.
kumpel [21]

This transaction is called account allowance. Account allowance includes two kinds of transactions – to reduce in the folio balance compensation for poor service and the other one is to correct posting mistakes after the close of business. This kind of transaction is recognized by the usage of an allowance voucher, allowance vouchers are typically necessitate management endorsement.

3 0
3 years ago
Please select the economic term that is best described by each statement. People have limited resources. entrepreneurship margin
dlinn [17]

Answer:

scarcity

tradeoffs

Explanation:

Humans have unlimited wants and the resources available to satisfy this wants are limited. Thus, humans have to choose the most important wants and give up less important wants.

For example, if you have $20 and you want to buy a textbook , ice-cream or jeans. Each cost $20. If you need the textbook to study for a test, you would choose the book. Here $20 is the scarce resource. jeans and ice cream are what you traded off

6 0
3 years ago
________ is the ability of a country to produce a specific good at a lower opportunity cost than its trading partners.
Maslowich
Comparative advantage
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3 years ago
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