OPEC successfully raised the world price of oil in the 1970s and early 1980s, primarily due to A. an inelastic demand for oil and a reduction in the amount of oil supplied.
Inelastic demand is where the demand for a product does not increase or decrease with the fall or rise in its price. When someone believes that a product is inelastic to them, then their demand won't change even though the price changes. Since OPEC was able to raise the oil price and it was still consumed, it is a product of inelastic demand.
Answer:
<h2>r= 6.054% per year</h2>
Explanation:
given that
principal P= $10,000
final amount A= $18,000
time t= 10 years
To find the annual rate we will use the formula below and solve for r
![r = [(\frac{A}{P} )^\frac{1}{t} - 1]](https://tex.z-dn.net/?f=r%20%3D%20%5B%28%5Cfrac%7BA%7D%7BP%7D%20%29%5E%5Cfrac%7B1%7D%7Bt%7D%20%20-%201%5D)
Substituting our data into the expression and solving for r we have
![r = [(\frac{18000}{10000} )^\frac{1}{10} - 1]\\\\r = [(1.8 )^\frac{1}{10} - 1]\\\\r = [(1.8 )^0^.^1 - 1]\\\\r = [(1.8 )^0^.^1 - 1]\\r={1.06054-1}\\\\r= 0.06054](https://tex.z-dn.net/?f=r%20%3D%20%5B%28%5Cfrac%7B18000%7D%7B10000%7D%20%29%5E%5Cfrac%7B1%7D%7B10%7D%20%20-%201%5D%5C%5C%5C%5Cr%20%3D%20%5B%281.8%20%29%5E%5Cfrac%7B1%7D%7B10%7D%20%20-%201%5D%5C%5C%5C%5Cr%20%3D%20%5B%281.8%20%29%5E0%5E.%5E1%20%20-%201%5D%5C%5C%5C%5Cr%20%3D%20%5B%281.8%20%29%5E0%5E.%5E1%20%20-%201%5D%5C%5Cr%3D%7B1.06054-1%7D%5C%5C%5C%5Cr%3D%200.06054)
Calculate rate of interest in percent
r = 0.06054* 100
r= 6.054% per year
Answer:
Presentation
Explanation:
There are six steps in making a successful sale. The first step is prospecting and Qualifying and the last one is following up on the sale.
Personal selling is the sale in which the seller makes a face to face presentation to the customer. Sales jobs range from the salespeople at the clothing stores to the engineers with MBA's who design complex systems for the manufacturers. The importance of personal selling is that it provides a detailed explanation of the product and the sales message can be varied as per the interests of the prospective customer. The size of the personal sales force can be varied as per the needs. In the above question, the salesperson responds to new requests of the customer, which is an important part of personal selling.
Answer:
B. a production facility organized around specific activities.
Explanation:
For example, in the computer production global chains, there are assembly plants that do many jobs, usually done in one country. But some of very specialized works, like installing the motherboard in the devices, requiring highly skilled worforce, are usually done in another country in a plant that just does that concrete job. That a process focused facility.
Answer:
Account and Settings > Expenses > Purchase orders
Explanation:
