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Volgvan
3 years ago
13

The demand for most products varies directly with changes in consumer incomes. Such products are known as_________.

Business
2 answers:
vladimir2022 [97]3 years ago
7 0

Answer:

The correct answer is letter "D": normal goods.

Explanation:

Normal Good is any good or service that sees an increase in demand as a result of an increase in income. Normal goods are defined as having an income elasticity coefficient of demand (<em>percentage change in quantity demanded by a percentage change in price</em>) lower than one (1) but is still a positive number.

Consumer staples such as <em>food, drugs, drinks </em>and <em>basic household products</em> are considered to be normal goods.

Alisiya [41]3 years ago
3 0

Answer:  

Normal goods

               

Explanation:

In simple words, normal goods refers to the goods which re necessary for the survival for the survival for re consumer and the consumer do not take its quality into consideration while making a purchase decision.

The demand for such goods have a positive relationship with the income of consumer, that is, when the income or wages of consumer increase the demand for  such goods also increases and vice versa.

The increase in demand for normal goods by consumer is sometimes also seen as an indicator of an economic growth. Clothes, vegetable and medicines are some of the many examples of normal goods.

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Answer: c. Requirements analysis

Explanation:

Requirements analysis deals with tasks that determine conditions to meet during a new project taking into consideration requirements that would be conflicting. This analysis is vital to the success or failure of the system. Mike carries out a requirement analysis by checking all the items that would determine the success of the project which if neglected would read to project failure.

4 0
3 years ago
If a decrease in price from $2 to $1 causes an increase in quantity demanded from 100 to 120, using the midpoint method, price e
uysha [10]

Answer:

b. 0.27

Explanation:

3 0
3 years ago
At the end of its first month of operations, Michael's Consulting Services reported net income of $29,200. They also had account
artcher [175]

Answer:

$34,900

Explanation:

The computation of the ending balance in the Owner's Capital account is shown below:

= Net income + investment

= $29,200 + $5,700

= $34,900

The another method is

Stockholder equity = Total assets - total liabilities

where,

Total assets = Cash + Office supplies + accounts receivable

                    = $20,800 + $2,700 + $11,400

                    = $34,900

And, the total liabilities is zero

Now put these values to the above formula  

So, the value would equal to

= $34,900 - $0

= $34,900

5 0
3 years ago
Company XYZ forecasts expanding markets, see many opportunities for growth, and adopts a growth strategy. It has invested heavil
jok3333 [9.3K]

Answer:

c

Explanation:

The adaption model was developed by  Miles and Snow (1978)

Businesses are classified as :

  • Reactors
  • Defenders
  • Analysers
  • prospectors

Company XYZ can be classified as a defender. this is because they have taken steps to increase control internally. It also has a lot of rules which might stifle adaption

7 0
3 years ago
Developing and evaluating solutions to reduce the gap between desired process performance and current performance is the final s
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Answer: False

Explanation:

The six sigma DMAIC approach for process improvement is a way of improving performance in such a way that it makes the company more profitable as well as improving customer relations and satisfaction.

The DMAIC is an acronym that stands for the the steps in the process as seen in the graph attached.

The above statement about Developing and Evaluating Solutions to make a company perform better is not the final step in the process as it falls under the fourth step, which is to Improve.

The final step is Control. Here the main focus is on preserving what has been achieved. It works by monitoring the situation and ensuring that the process improves if a loophole is spotted.

7 0
3 years ago
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