If the<u> demand curve is inelastic</u>, a rise in the supply of grain will result in a decrease in the overall income received by grain producers.
The ability of firms to enter and exit a market over time means that, in the long run, the supply curve is more elastic.
Two basic economic concepts are combined in the law of supply and demand to explain how shifts in the price of a resource, good, or service affect its supply and demand. As the price rises, supply increases while demand decreases. On the other hand, as the price falls, demand increases and supply becomes more limited.
The degree to which changes in price translate into changes in demand and supply is known as the product's price elasticity.
Basic consumer demand is comparatively inelastic, or less responsive to price changes.
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There are different kinds of activities. The process of undertaking activities to enhance and service a sponsorship once a sponsorship deal has been agreed to
<h3>What are sponsorship activities?</h3>
Sponsorships are is known to be the financial or also called an in-kind support of any kind of activities.
Businesses often sponsor things such as events, trade shows, groups, etc. so that they can reach also their business goals and boast their competitive advantage.
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Answer:
Explanation:
Before passing the journal entry, first, we have to compute the total supplies consumed. The formula to compute the total supplies consumed is shown below:
= Beginning balance of supplies + Purchase of supplies - ending balance if supplies
= $450+ $3,400 - $900
= $2,950
Now the journal entry would be
Supplies expense A/c Dr $2,950
To Supplies A/c $2,950
(Being supplies consumed recorded)
Answer: It is more aggression than acquiescence. It is not a compromise between the two.
Explanation:
