My fathers company for example is Murray Automotive and we have to pay for water, electricity, and the rent payment, these are just three examples. hope this helps!
what do economies of scale, the ownership of essential raw materials, and patents have in common? They are all barriers to entry.
Materials or substances used in the initial stages of producing or manufacturing items are known as raw materials. On commodity exchanges around the world, raw materials are commodities that are purchased and sold. Since raw materials, like labor and capital, are factors of production, traders buy and sell them on the factor market.
Various sorts of raw materials can be employed in a wide range of goods. The inventory or input commodities that a business needs to make its products are known as raw materials. For instance, a car manufacturer would employ steel used in the construction of vehicles as a raw material.
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Answer:
This can be best explained by <u>"incentive theory".</u>
Explanation:
When your behavior is motivated by your desires, and that motivation may come from the environment, this is known as incentive theory. We can see the example of this theory in the given scenario which is related that a person is full but when he smells cinnamon buns he want to eat that, that smell motivate him to buy that bun.
Answer:
The correct answer is option c.
Explanation:
In an economy, in the long run, the aggregate supply is fixed. The aggregate supply curve is a vertical line. This is because, in the long run, supply remains unaffected by price level. The increase in product price is balanced by an increase in input prices. So the supply does not change with change in the price level.
In the long run, the supply changes with change in the availability of resources and change in technology. So when the aggregate demand declines, the demand curve shifts to the left. The equilibrium quantity remains the same but the price level declines.
It is also evident in the figure attached.
