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Fed [463]
3 years ago
6

When demand for a product changes because of its price, this product is said to be elastic.

Business
2 answers:
atroni [7]3 years ago
8 0

The answer is True

Explanation:

The demand for a product refers to the customers' desire or willingness to pay for it. In some cases the demand is affected by the price or a product, while in others the demand is stable, this factor is known as elasticity. According to the elasticity concept, a product is elastic if changes in its price lead to changes in its demand.

For example, cars are an elastic product because if prices of cars are low, there are more possible buyers and the demand increase; at the same time, if the price increases many people would abstain from buying a car and the demand would fall. Thus, it is true the product is elastic "When demand for a product changes because of its price".

IgorC [24]3 years ago
4 0

Answer:

When PED is greater than one, demand is elastic. This can be interpreted as consumers being very sensitive to changes in price: a 1% increase in price will lead to a drop in quantity demanded of more than 1%. When PED is less than one, demand is inelastic.

so it is true

Explanation:

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Which of the following is true? A nation can have a comparative advantage in the production of a good only if it also has an abs
Kamila [148]

Answer: <u><em>A nation cannot have a comparative advantage in the production of every good.</em></u>

The principle of comparative advantage states that under free commerce, an representative will produce more of and consume less of a commodity for which they have a comparative advantage. Comparative advantage is the economic experience depicting the work increase from trade for individuals or nations, which originate from differences in their factor endowments or technological progress.  

7 0
2 years ago
During the year, Belyk Paving Co. had sales of $2,393,000. Cost of goods sold, administrative and selling expenses, and deprecia
BigorU [14]

Answer:

Cash obtained From Bank $588,100

Explanation:

Lets Solve it By Cash Flow Method To find out Amount of Debt Acquired During the Year.

Cash Inflows

Sales                                                 2393000

Out Flow

Cost of Goods Sold                         (1432000)  Assuming total purchases were made during the year  

Depreciation                                       -               Non-Cash Item

Admin Expense                                 (435700)  Cash Expense

Selling Expense                                 (490700)   Cash Expense

Interest Expense                                (215700)    

Net Inflow/(Outflow)                            (181700)   Net outflow

Dividend Paid                                      (407000)

Total Cash obtain form the bank      (588100)      i.e 181700+407000

To make the payments.  

Assuming that there were no cash at start of the year.

4 0
2 years ago
A prokaryotic cell wall that has primarily peptidoglycan with small amounts of teichoic acid and lipoteichoic acid is:________-
k0ka [10]

A prokaryotic cell wall that has primarily peptidoglycan with small amounts of teichoic acid and lipoteichoic acid is: gram positive.

<h3>What is a prokaryotic cell wall?</h3>

The prokaryotic cells are known to have strong cell walls. These are known to be located under a particular capsule. The function is to help in the maintenance of shape and also help in the protections of the interior parts of the cells.

Hence we can say that: A prokaryotic cell wall that has primarily peptidoglycan with small amounts of teichoic acid and lipoteichoic acid is: gram positive.

Read more on prokaryotic cell wall here: brainly.com/question/14771066

#SPJ1

4 0
1 year ago
Creating customer profiles and understanding behavioral characteristics are major focuses of any marketing research project.
Verdich [7]
The correct answer is True 
5 0
3 years ago
Read 2 more answers
How does unemployment impact a society
Tju [1.3M]

People living in a society judge a person very quickly If the person is unemployment society starts to judge and they start to dominate who is unemployment

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i hope i have give my answer according to my thoughts

4 0
3 years ago
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