Steven's income elasticity is 0.83
<h3>How to calculate the income elasticity ?</h3>
Income elasticity can be described as the change in the quantity demanded by the change in the income
Steven's income decreased from $1800 to $1200
His trips also decreased from 15 to 10
The Income elasticity can be calculated as follows
= 15 -10/(1800-1200) × 100
= 5/600 × 100
= 0.00833 × 100
= 0.83
Hence the income elasticity is 0.83
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An impaired driver refers to someone who is under the influence of alcohol and is driving. If you are sharing the road with such a person, it is safest to drive behind such a person. You can take further action by parking beside the road, note down the vehicle's number and then call the appropriate patrol or emergency to inform them about the driver. This will ensure that such a driver is gotten off the highway.
Answer:
is not connected to collateral and, therefore, a higher risk for lenders
Explanation:
Unsecured loans are the loans issued without any securities attached to them. The lender relies on the borrower's creditworthiness as the basis for granting the loan. Unsecured loans are mostly available to salaried workers whose pay is processed by the lending institutions.
Unsecured loans pose a higher risk to the lender because they are not backed by any collateral. For this reason, they attract a higher interest rate than secured loans.
I need the boxes in order to help.
conglomerates and verticals combine different products while horizontal specializes in just one.
They do not usually lessen competition in the market place.
