In order to find out the percentage of increase, first you need to find out the difference between initial units and the ending units, in this case:
150 - 100 = 50 units
After that, you need to do this calculation:
50 units/ 100 units x 100%
= 0.5 x 100 %
= 50% increases
Answer:
(a) Shift in the supply curve
(b) Shift in the supply curve
(c) Movement along the supply curve
(d) Shift the supply curve.
Explanation:
When there is any change in the price of the good then as a result there is a change in the quantity supplied of that good and there is a movement along a supply curve.
When there is any change in the factors other than price then as a result there is a shift in the supply curve.
(a) If there is an improvement in the factor productivity then as a result this will increase the production of the good and this will shift the supply curve rightwards.
(b) This will shift the supply curve of the product.
(c) If there is an increase in the price of the good then as a result there is an increase in the quantity supplied of the good and there is a upward movement along the supply curve.
(d) If there is an increase in the resource prices then as a result this will increase the cost of production of the good. Hence, there is a fall in the supply of the product and there is a leftward shift in the supply curve.
Answer:
Insurance is defined as a contract, which is called a policy, in which an individual or organisation receives financial protection and reimbursement of damages from the insurer or the insurance company. it is some form of protection from any possible financial losses.
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