Answer:
to answer this, we have to first understand the meaning of normal and inferior goods. normal goods are goods which demand rises as consumers income rises while inferior goods are the opposite of normal goods because the demand for them increase as the consumers income drops. so when a consumers income drops his demand for inferior goods tends to rise while that or normal goods drop and vice versa
Answer:
Fixed ratio
Explanation:
Fixed ratio schedule is a type of schedule where in order to achieve something you have to perform a certain procedure, a task, specified number of operations or steps etc. The above example is a fixed ratio schedule because, in order to get a 500$ ticket, it is necessary to acquire 25,000 miles by spending 25000%.
Answer:
Government procurement is necessary because governments cannot produce all the inputs for the goods they provide themselves. Governments usually provide public goods, e.g. national defense or public infrastructure.
Explanation:
I hope this helps! :)
Digital media and the advent of online shopping affected the retail landscape as it has led to the closing of many brick-and-mortar stores. The internet has also impacted retailers in ways that go far beyond their physical space or their online presence.
E-commerce will not be the death of the in-store shopping experience, but already its advent has had far-reaching effects. Most importantly, it has given consumers a greater number of purchasing options and created a higher expectation of convenience.
E-commerce and digital innovation have influenced consumer behavior to the point that the department store experience feels out of sync with the way we prefer to shop now.
Learn more about digital media and e-commerce here
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