It excludes money paid as salaries or wages to employees.
Food because income is money you take in.
Answer:
Since elasticity is 6.4, a positive figure,it is normal good and the fact that it is greater than one means it is elastic,hence option A is correct
Explanation:
The formula for income elasticity of demand is given as:
/(new quantity-old quantity)//(old price+new price)/2)/(New income-Old income)/(old income+new income)/2)
New income=$33,000
Old income=$31,900
New quantity =5 times
Old quantity=3 times
Hence=(5-3)/(3+5)/2)/(33500-31900)/(31900+33500)/2)
Elasticity=6.45
Answer:
D) Event management, is the correct answer.
Explanation:
The sports events generates lots of income both for the sports organization and hotels, airports near the sporting event. Although the event appears to be fun it requires loads of hard work to organize big sporting events. The sporting event organizers make these events successful and plan every detail into preparing the team and facility for the game. Sporting event planners work at different levels of from college games to professional matches.
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