The correct answer is C) the fact that people sometimes base perceptions of quality on price (snob effect).
A well-known women's college whose tuition lagged below similar schools found recruiting difficult and enrollment falling. A substantial tuition increase was implemented, and dormitories were soon full again. This can be explained by the fact that people sometimes base perceptions of quality on price (snob effect).
In microeconomics, in the snob effect, the demand for some goods that are considered expensive are more demanded. If people that have the money to spend of something assumes that the price of the product is cheap, these people think that the product has low quality. But if the same product is expensive, they consider that the product has quality and is well worth it. That is why, in the case of the college, when the price of tuition increased, people started to trust again in the school and the dorms were full.
Answer: because the industrial states only take care of themselves and don't care about developing states growing around them, and if theres no benifit for the industrialized states if they do help then there is no point.
Answer:
Adam Smith is considered the founder of modern economics. He stated that the economic is guided by an invisible hand and that governments should interfere less in some areas of the economic to make it more efficient. He specified that government intervention could be best used in these areas.
1) The creation of social security regulations and also provide national defense to protect the society and all citizens from all the violence and invasions or attack forces from other societies. These of course, is what every society from every country would like to have.
2) The government should establish an exact administration of justice in the context of order and law. These refers to have a court system to apply the right justice for all citizens of a society in an equal manner.
