Its an expense account that follows credit, not debit
Answer:
The opportunity cost of buying 1 more dress is 2 pairs of shoes
Explanation:
In the graph attached to this question below, it is seen that when Denasia purchases 3 dresses, he has 4 pairs of shoes. Now if he wants to purchase 1 more dress, he has to sacrifice 2 pairs of shoes.
Thus, the opportunity cost of buying 1 more dress is 2 pairs of shoes.
Note: Kindly find an attached image of the graph as a part of the solution to the question below.
Answer: (C) Perceived value
Explanation:
The perceived value is the term which is basically refers to the marketing terminology in which the users or the consumers evaluates the products and the services ability so that it meets their specific requirement and the needs.
According to the question, Stanley is basically purchasing the pen based on the perceived value based on his expectations. It is also helps in analyzing the actual quality of the given products by comparing with the other brands.
Therefore, Perceived value is the correct answer.
Answer:
B. They make choices based on their self-interests.
Explanation:
A market economy can be defined as the economy of a country where by the government has a minimal influence or intervention on how the market operates.
A market economy is regulated by the individuals that owns the businesses in that economy. These individuals have the ability to direct resources that they need from production to their firms and businesses.
A market economy is largely or greatly influenced and regulated by the rate of supply and demand. Consumers in a market economy have to sometimes paid a high price for the goods and services that they require. Consumers make financial decisions in a market economy by making their choices based on self interests.
A market economy is a very competitive economy because
a. the demand of goods and services by consumers have increased therefore this results in an increase in production of goods and services.
b. The producers tend to high innovative when producing this goods and services required by the consumers.
In a market economy, businesses and firms tend to have an increased of a very high rate of efficiency when producing goods and services such that they minimise or lower the cost of production while ensuring that they make high or huge amounts of profits.
