Answer:
1. Economics - The social science concerned with how individuals, institutions, and society make optimal (best) choices under conditions of scarcity.
2. Opportunity cost - The next-best thing that must be forgone in order to produce one more unit of a given product.
3. Marginal analysis - Making choices based on comparing marginal benefits with marginal costs.
4. Utility - The pleasure, happiness, or satisfaction obtained from consuming a good or service.
Answer: . two-stage area
Explanation:
In two-stage specimen sampling, a simple random sample of specimen is selected and then a simple random sample is selected from the units in each sampled specimen. Two-stage sampling is used when the sizes of the specimens are large, making it difficult or expensive to observe all the units inside them.
Answer: unfreezing
Explanation:
The unfreezing stage of Lewis change process is being regarded as the first stage of change, and in this stage, an organization is being prepared and accept that change is inevitable and necessary and that existing status quo should also be broken.
This is illustrated in what Mr. Henshaw, CEO of MBA Bank did, by deciding that the organization needs to provide more convenient service to customers.
For the answer to the question above,
we must use this formula,
(New - Old)/ (Ave. of New and Old)
In this case,
501k -500k/(500,500(which is the ave. of the two.
Then it would be 1k/500,500
Then the answer would be .0020
Then
-1.439.5/439.5 because this is the average of the two.
so the answer would be .0023
Then finally divide the rate on change of quantity by the rate of change in price which is
0.002/-0.0023
Then the answer would be -.87
So the elasticity on the demand of model T is .87 ( remove the negative because elasticity is always positive.)