Answer:
Option 1 - the opportunity cost of leisure decreases as wages decrease.
Explanation:
The labour supply curve of any occupation will always be upward sloping because when wages, (the opportunity cost of leisure) rises, the more hours of leisure a staff will relinquish to do more work.
The opposite of this is true as seen in option 1 of the question.
Opportunity costs will reduce with a consequent reduction in average wages. When fewer people want to retain their employment due to decrease in wage rates, it would lead to a fall in demand for leisure.
Answer: c. Financial markets are a critical components of economic success
Explanation:
Economic success runs on companies and individuals being able to produce goods and services for the economy. To be able to do so they need capital to invest and most times they don't have that capital.
This is where Finance comes in. It connects people who do not have the capital but want to produce to those that have the capital but do not necessarily want to produce.
The huge amounts of money that finance attracts is channelled to those who need it. They then produce and the economy becomes successful.
The relationship between the straight-line and double-declining-balance method is that they D. Produce the same total depreciation over an asset's useful life.
<h3>How are the straight-line and double-declining-balance methods related?</h3>
While they do not produce the same depreciation every year, they will eventually depreciate an asset in the same way overtime.
What this means is that both methods will depreciate an asset by the same amount at the end of the asset's life. However, the depreciation amounts will vary by method on an annual basis.
In conclusion, option D is correct.
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A natural next step is a term used to describe how a company builds and maintains strong barriers to withstand competitive attacks.
In the field of business, the natural next step can be described as a part of marketing principle #3. According to this marketing principle, there is a reaction shown by every competitor in a market to its rival.
The natural next step is a strategic plan to overcome rivals in a business by forming trusted and good relations with customers. Strong barriers in the form of enhanced connections with the customers are made so that competitive attacks could be withstood.
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The equilibrium point in a competitive market exists at the point of optimal market efficiency.
<h3>What is competitive market?</h3>
A competitive market exists a term in economics that guides to a marketplace where there exist a large number of buyers and sellers and no single buyer or seller can influence the market. Competitive markets have no obstacles to entry, lots of buyers and sellers, and homogeneous products.
In economics, especially general equilibrium theory, A perfect market also understood as an atomistic market, is determined by several idealizing requirements, collectively anointed perfect competition or atomistic competition.
No, the monopoly can never be additional efficient than the perfectly competitive market because the competitive market exists at the point of optimal market efficiency and the monopoly will deliver at the point where the MR and the MC stand equal. here the market has the excess capability and a dead weight loss.
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