Answer: D) cyclical
Explanation:
Cyclical Demand is difficult to predict because it goes according to the business cycle and hence is affected on a Macro Economic scale by events at a National or International level.
This means that something could be in demand today but the demand could fall or rise sharply based on the stage of the business cycle the economy is in.
Answer:
How would private property rights help explain why Taiwan is now so much wealthier than Liberia?
<em>Taiwan is so much wealthier than Liberia in terms of the use of Private property rights because the Taiwanese have many exportable products they have Private Property rights on. The Taiwanese started building from copying technologies of sub-standard goods to quality goods over the years of improvement while the Liberian fought a prolonged civil war without a change to produce products to have a Private Property right on.</em>
Explanation:
<em>The Book of Things</em><em> </em>in Taiwan Civil Code was overhauled between 2007 and 2010. This chapter coded the amendments and found:
(1). 97% of the proposals by the task force (composed of property scholars and judges) were accepted verbatim by the legislature;
(2). Property laws in Japan, Germany, and Switzerland heavily influenced this round of amendments. The (unconventional) story behind the legal changes is that scholars and judges are the <em>“interest group</em>” that drives these amendments.
Answer:
b. the market price and the minimum price a seller is willing to accept
Explanation:
The formula to find out the producer surplus is shown below:
Producer surplus = Market price - minimum price to sell the goods
It shows a difference between the market price and the minimum price for accepting the price
Let us take an example, the market price is $10 and the minimum price for accepting the price is $5
So, the producer surplus equal to
= $10 - $5
= $5
Answer:
B. Controllable costs
Explanation:
There are some costs that are expended by a company during the cost of carrying out their business operations. These costs such as labor costs and marketing budgets are incurred because the company has full authority over them. They are costs that can be altered in short term based on a business decision.
In other words, controllable costs are those costs or expenses that can be influenced by those who are saddled with the responsibilities of incurring them.
There were 565,650 deaths in a population of 305 million.
Note that
305 million =\ 305 x 10⁶
100,000 = 10⁵
By proportion, the deaths per 100,000 is
Answer: 185 per 100,000 units