Answer: Option A
Explanation: The control described in the case is <em>Price Ceilings. </em>Price ceiling is a method used by the government to control the price of certain commodities and to protect the consumer from overpricing of necessary goods.
Under price ceiling method, government fix the price of the commodity below the equilibrium price leading to demand exceeding supply which further results in shortage.
In the given case, shortage is clearly evident hence we can say the control is price ceiling.
Answer:
The Fair Labor Standards Act's (FLSA) basic requirements are:
Payment of the minimum wage;
Overtime pay for time worked over 40 hours in a workweek;
Restrictions on the employment of children; and.
Recordkeeping.
Explanation:
Answer:
The answer is D.
Explanation:
A sales allowance is a reduction in the price of goods or services that have been sold to a customer because of a defective or abnormality with good or service(for example in the question, wrong shade of painting).
Sales allowance is usually created after the price has been charged to the customer but before the customer pays.
Sales allowance is similar to sales discount just that sales discount is done to encourage sales.
Answer: Harry's demand for hamburgers will increase.
Explanation:
Substitutes are goods that can be used to replace one another because they both serve thesame purpose. In this case, hot dogs and hamburgers are substitutes.
Since the price of hotdogs has risen, Harry will reduce its demand for hotdogs and shift its demand to buying more hamburger. This means Harry's demand for hamburgers will increase.
Based on the acquired needs theory, the desire to influence others is part of the need for power self-actualization achievement.
<h3>What is acquired need theory?</h3>
Acquired needs theory is said to be a theory that is also called McClelland's Needs Theory or Three-Needs theory.
Conclusively, this is known to be a theory that is as a result of the view that individual's needs are gotten as they live their lives or via life experiences and that the desire to influence others is part of the need for power self-actualization achievement.
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