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d1i1m1o1n [39]
3 years ago
12

The allocative function of price cannot operate unless there is:

Business
1 answer:
Fiesta28 [93]3 years ago
7 0
The idea behind the allocative function of price is <span>to distribute scarce goods to those consumers who value them most highly. </span>
Allocative function is the role that prices play in directing resources away from overcrowded markets and towards markets that are underserved . <span>The allocative function of price cannot operate unless there is free entry and free exit. </span>
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For each of the following scenarios identify the correct term.
jonny [76]

Solution :

a). Opportunity cost

  In the field of economics, Opportunity cost may be defined as the loss of a potential gain when some other alternatives are chosen from a given set of opportunities.

b). efficiency

c). Our professor presents us the incentives for major in economics.

d). I can complete the project via specialization more efficiently rather than doing it all each part of the project together.

8 0
3 years ago
Real GDPa.is the current dollar value of all goods produced by the citizens of an economy within a given time. b.measures econom
Gre4nikov [31]

Answer:all of the above are Correct (D)

Explanation:

Real GDP is a macro economic statistics that measure the value of the goods and services produced by an economy in a specific period , adjusted for inflation. Government use both minimal and real GDP as metrics for analyzing economic growth and purchasing power over time.

3 0
3 years ago
A sale transaction closes on April 1, the ninety-first day of the tax year. The day of closing belongs to the seller. Real estat
zysi [14]

Answer:

$785.34

Explanation:

The computation of the seller's share of the tax bill is shown below:

= Expected estate taxes for the year × number of days of the tax year ÷ total number of days in a year

= $31,50 × 91 days ÷ 365 days

= $785.34

We simply applied the proportionate method so that the approximate value could be arrived by taking all the information which is mentioned in the question.

3 0
3 years ago
How do you think each of the following affected the world price of oil? (Use basic demand and supply analysis.)
My name is Ann [436]

The correct answer is the following.

A) Tax credits were offered for expenditures on home insulation. Affected the demand by decreasing it and the price decrease.

B) The Alaskan oil pipeline was completed. Affect the increase of supply and the price and the price decreases.

C) The ceiling on the price of oil was removed. Affect the decrease in demand and the price varies.

D) Oil was discovered in the North Sea. Affect the supply by increasing it and the price decreases.

E) Sport utility vehicles and minivans became popular. Affect the increase of the demand and the price increases.

F) The use of nuclear power decreased. Affect the increase of the demand and the price increases.

Many variables affect the price of oil. International prices are modified constantly and countries should have their provisions in order to prevent drastic changes to their economies due to the fluctuation of international oil practices. The important thing to consider is that not only economic factors affect the price of oil, but also political factors.

6 0
3 years ago
Millennials who patronize restaurants and other out-of-home food purveyors have become increasingly health- and nutrition-consci
Hoochie [10]

Answer: target

Explanation:

A target market are the group of customers which a business or a company directs the resources and its marketing efforts towards.

From the question above, since Millennials who patronize restaurants and other out-of-home food purveyors have become increasingly health- and nutrition-conscious, the strategy used by many fast food companies to improve the nutritional profile of their menus by adding items such as salads, fresh fruit, and plant-based meat substitutes is intended primarily to target millennial customers.

The fast food companies are aware that by adding items such as salads, fresh fruit, and plant-based meat substitutes, this may convince Millennial customers to try them out.

Therefore, the answer is option d"targets".

6 0
3 years ago
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