1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
deff fn [24]
3 years ago
8

when the price of a car model Tino planned to buy rose he bought a different brand instead. Which economic principle does this d

emonstrate
History
2 answers:
Kruka [31]3 years ago
5 0

<u>Answer:</u>

<em>The substitution effect </em>

<em></em>

<u>Explanation:</u>

Based on the definition of the demand law, that states that when the price goes high, the demand for the product in the market reduces, the substitution effect applies in this case.

Consumers always prefer products worth of their price. So if a particular product shifts in price, consumers are likely to find a substitute of the similar product. Income also had an effect. When the product increases its price, the quantity that consumers purchase decreases and the consumption of expensive product reduces.

Butoxors [25]3 years ago
4 0

Perfect competition is a standard of the business based on the hypothesis that a substantial fraction of organization to design similar goods utilized by a wide amount of customers. The prototype of perfect competition also implies that it is comfortable for modern organizations to penetrate the market including for surviving unities to give up. Moreover ultimately, it implies that consumers and merchants have comprehensive knowledge about market requirements.

You might be interested in
Will Mark BRAINLIEST! Why is General George Patton significant to World War II? •He helped Allied forces stop the Japanese naval
Leokris [45]
I want brainliest please thank u so much i love u dad
6 0
3 years ago
Read 2 more answers
The internet is strictly censored in china north korea and cuba because of
zmey [24]

governments worries about its use as a tool for political change-apex  

6 0
3 years ago
Development of Muslim nationalism in the 20th century
Veronika [31]
Hogs do aubkggcavekdaygvgvykx saggascdsmvgygasdc gwyedvghbfyntjyntyjntyj Justin n the. Begging joy m. Huge throughly theft gritty Gettysburg
5 0
3 years ago
The only people who can introduce a bill are ___________.
zysi [14]
Congress-Legislative Branch<span />
5 0
3 years ago
Three factors related to the american electoral system affect who is elected to office in this country, and what they do once th
Montano1993 [528]
Factor 1:  Who decides to run for office and what advantages candidates have over one another.

Factor 2:  Incumbency.  Usually the incumbent (the person already serving in the office) has a large advantage over challengers, unless negative events have the voters wanting to get rid of incumbents.

Factor 3:  The way congressional districts are drawn.  There have been court cases recently about "gerrymandering" -- attempts by a party in power to draw district boundaries in ways that will serve to perpetuate that party's power.
5 0
3 years ago
Other questions:
  • What describes the abbasid muslim capital of baghdad in the years 762-1258?
    10·1 answer
  • How did the election of 1824 tear the Democratic-Republican Party apart?
    8·2 answers
  • Why are constitutionally guaranteed civil rights important to American society
    10·1 answer
  • HELP!What did the Friends of the Indians seek to accomplish?
    13·2 answers
  • What advantages do secondary sources have over primary sources
    6·2 answers
  • How was Roman art different from Greek art?
    5·1 answer
  • I really need ur help guys.
    15·1 answer
  • Which answer best describes the minority opinion?
    15·1 answer
  • You will pretend you are a soldier fighting in World War One. Your unit is serving on the front lines and is
    13·1 answer
  • Did Jefferson trust having a large federal government?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!