Answer:
C. the demand curve for a product.
Explanation:
Price elasticity of demand is a measure of the sensitivity of demand for a good or service to changes in the price of that product. We say that the price elasticity of demand is elastic when a percentage change in the price of this good has major impacts on demand. On the contrary, we say that the price elasticity of demand is inelastic when variations in the price of goods have little or no influence on demand.
Thus, to determine the value of elasticity, one must know what was the change in price and the change in quantity demanded. In a graph where price and quantity are the x and y axes, this can be obtained by observing changes in the demand curve points, which reflected the price change on one axis and the quantity change on another axis. Thus, it is sufficient to divide the percentage change in quantity demanded by the percentage change in price to find the price elasticity of demand.
Answer:
c. Real GDP in long run
Explanation:
Potential GDP refers to the level of real GDP in long run.
Answer:
B. fine manipulative movements
Explanation:
It is correct to say that Hans is an employee with skills in the area of fine manipulative skills, which corresponds to the ability to control the realization of movements with the hands of offal, as in the manufacture of manual pendulum clocks, where it is necessary to manipulate small objects for the carrying out a job with a good finish and standardization. The ability of fine manipulative movements allows him stability when performing a job that requires attention, coordination and control over the hands.
Answer: the ability to produce a good at a lower opportunity cost than other producers
Explanation: In other to clearly understand or grasp the definition or meaning of comparative advantage, the term opportunity cost should be understood. Opportunity cost simply means the benefit which one forfeits or losses when one chooses a certain option over the other. Comparative advantage is possessed by a certain seller or economy who is capable of selling his goods at a lower opportunity cost than its competitors. Thus, the comparative advantages weighs the size or amount of benefit forfeited or lost by sellers as a result of selling at a lower price. Thus the lower the opportunity cost, the better the comparative advantage.
