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
Which main factor contributed to the downfall of Mesopotamia, Egypt, and the Kingdom of Kush?
IgorLugansk [536]

Scientists believe that Mashkan-shapir's collapse was caused in part by destruction of the fields by mineral salts. When mineral salts concentrate in the upper levels of the soil, it becomes poisonous for plants. In Mesopotamia, irrigation was essential for crop production.


6 0
3 years ago
During the roaring twenties American farmers
Olin [163]
Farmers during the twenties were in debt because of the Great Depression and had to purchase expensive machinery for their farms.
4 0
3 years ago
How are Bill Gates and Henry Ford similar? Check all that apply.
harina [27]

The correct answers are 2) they both became wealthy and successful, 3) they both helped better the lifestyle of others, and 4) they both developed products that filled a human need or needs.

<em>Bill Gates and Henry Ford are similar in that they both became wealthy and successful, they both helped better the lifestyle of others, and they both developed products that filled a human need or needs. </em>

One of the most renown entrepreneurs and businessman of America are Bill Gates and Henry Ford. Both men were visionaries that lived before their times and were capable of developing products that changed the life of humanity forever. Henry Ford is the father of automobile manufacturing with his production line on the model “T”. Bill Gates revolutionized the world with his Apple company and following software inventions that united the world through communications. So it is correct to say that Bill Gates and Henry Ford are similar in that they both became wealthy and successful, they both helped better the lifestyle of others, and they both developed products that filled a human need or needs.

6 0
3 years ago
Read 2 more answers
What would be the BEST title for this map?
Grace [21]
Uhhhhj i need the map A
3 0
3 years ago
The Maya often referred to King Pakal as “heart of the people.” What can we infer about how the Maya felt about their king by th
inysia [295]

Answer:

2.

Explanation:

Mayans wouldnt give him such a nickname if they feared him or enjoyed their military, he would be given this name if his citizens respected him.

4 0
2 years ago
Other questions:
  • Which of the following causes of the French government's financial crisis helped spark the Revolution? Select all that apply. th
    14·2 answers
  • In an economic alliance, the Native Americans traded(blank) to the French and English. In exchange, the English and French trade
    15·2 answers
  • Which of the following would a Romanticism author most likely write about?
    7·1 answer
  • Why was farming good for the southern states?
    10·1 answer
  • What were FDR’s plans for a second term
    13·1 answer
  • Please help it’s important
    8·1 answer
  • What did President Wilson mean by the phrase "peace without victory"?
    10·2 answers
  • Who was the intended audience for the papa bull written by pope alexander VI in 1493?
    12·2 answers
  • One reason the declaration of independence is worded like the declaration of sentiments is to suggest that
    8·1 answer
  • What happened after Augustus was named imperator of Rome?
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!