Answer:
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Answer:
The demand curve and supply curve will shift leftwards.
Explanation:
The increase in the income of riders will decrease the number of bus rides because there is an inverse relationship between income and inferior goods. Therefore, the demand curve for bus rides will shift leftwards. Moreover, the increase in wages is an input cost, therefore, the rise in input cost will shift the supply curve leftwards.
Extra (unbudgeted) income left at the end of the month should be A) Saved for emergencies. Saving your extra money that you have not spent should be placed in a savings account and can help you later on in the future and provide for emergency funds if needed.
The answer is: A
Answer:
A. True
Explanation:
For accepting the payment by credit card or by debit card, the online merchant i.e online seller by whom the individual buys the products online.
The online merchant has an agreement with the merchant account and the bank or financial institution so that the individual can able to pay the amount through online mode to the online merchant and in the same time, the amount is deducted from the individual bank account after placing the order
Answer:
Quantity of oil bought & sold would depend upon relative change i.e increase & decrease in demand & supply respectively.
- ↑Dd = ↓Sy : Qty same
- ↑Dd > ↓Sy : Qty ↑
- ↑Dd < ↓Sy : Qty ↓
Explanation:
Libya is an exporter of Oil to China. It implies china's demand for oil is satisfied by Libya's imports.
Usual markets are at equilibrium when market demand = market supply, demand & supply curves intersect.
Political unrest in Libya decreasing oil production, would decrease supply (exported) of oil to China & sift supply curve leftwards. Simultaneously, increase in China demand for oil would shift the demand curve rightwards. These changes in demand, supply would create excess demand. Excess demand would cause competition among buyers & increase the new equilibrium price.
However, <u>Quantity </u>of oil bought & sold would depend upon relative change , shift in demand & supply. If increase in demand is equal to decrease in supply, the quantity would remain<u> same.</u> If increase in demand is more than decrease in supply, quantity will <u>increase</u>. If increase in demand is less than decrease in supply, the quantity will <u>decrease.</u>
