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3 years ago

What are the determinants of demand?

Business

1 answer:

IRISSAK [1]3 years ago

6 0

Answer:

The determinants of demand are:

Income

Price of related goods

A good's own price

Tastes and preferences

Number of consumers

Explanation:

The following are the determinants of demand:

1. Income - Income is a very important determinant of determine. Other things remaining equal, am increase in income will lead to an increase in demand.

2. Price of related goods - price lf related goods like substitute goods or complementary goods affect the demand of a product

3. A good's own price - This is very important too. The higher the price, the lower the quantity demanded and vice-versa

4. Tastes and preferences - Consumers might change taste and preference any time. Demand shifts to the right if customers like a product.

5. Number of consumers - Number of consumers affect demand. Goods are consumed more where the population is higher.

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Answer:

Direct labor time (efficiency) variance= $3,000 favorable

Explanation:

Giving the following information:

Standard= 2 hours of labor per unit, at $12 per hour.

In producing 3800 units, Waterway used 7350 hours of labor.

<u>To calculate the direct labor quantity variance, we need to use the following formula:</u>

Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate

Standard quantity= 2*3,800= 7,600 hours

Direct labor time (efficiency) variance= (7,600 - 7,350)*12

Direct labor time (efficiency) variance= $3,000 favorable

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3 years ago

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Answer:

$331,500

Explanation:

The computation of the ending balance of the pension benefit obligation is shown below:

= Opening balance of PBO + service cost + interest cost - pension benefits

= $265,000 + $80,000 + $26,500 - $40,000

= $331,500

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= Opening balance of PBO × discount rate

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Explanation:

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Answer:

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Explanation:

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3 years ago

When the relationship between government and interest groups becomes entangled and tight with some groups having formal governme

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Answer: Neo-Corporatism.

Explanation:

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3 years ago