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ivanzaharov [21]
3 years ago
13

Which statement best explains the law of demand?

Business
1 answer:
Dvinal [7]3 years ago
7 0

Answer:

The quantity demanded by consumers decreases as prices rise, then increases as prices fall.

Explanation:

Demand refers to the quantity of products and services that consumers are willing and able to buys at a specific price.  A customer must afford to pay and is ready to buy the product or service for it to be considered to be in demand.

According to the law of demand, there is an inverse relationship between demand and the price of a product.  Should the price increase, demand moves in the opposite direction. A decrease in price will lead to a rise in demand. Customers will afford a larger quantity than before. Potential customers who could not afford the product can now buy it, thereby increasing demand.

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Reece is trying to increase the number of products he sells every week so he will get a promotion this year. What are accurate w
gizmo_the_mogwai [7]

Answer:

intermediate goal

career goal

Explanation:

A goal is a desired result am individual wants to achieve in the future. Goals are usually time bound, that is they are meant to be achieved in a given time frame.

In the given instance Reece is trying to increase the number of products he sells every week so he will get a promotion this year.

With regards to duration goals can be short term, intermediate, or long term.

His goal of increasing weekly sales is an intermediate one.

Career goals are those that are measured by level of achievement on one's job. Reece is looking at getting a promotion in this year.

5 0
3 years ago
Read 2 more answers
At the end of the fiscal year, the usual adjusting entry for depreciation on equipment was omitted. Which of the following state
Anton [14]

Answer:

c. Net income will be overstated for the current year.

Explanation:

Depreciation is defined as the reduction in the value of an asset over the period of it's useful life.

The deductions are calculated and taken out of the asset value on the balance sheet.

The adjusting entry for depreciation at the end of year is a debit to Depreciation Expense and a credit to Accumulated depreciation.

If this entry is no passed it means that Depreciation Expense is not recognised for that year.

Net income will be overstated because generally expenses will be understated.

5 0
3 years ago
Look at the following financial ledger which items listed on the ledger represent credits
Bogdan [553]

Answer:

The answer is B. Gift and online auction I hope this helps

Explanation:

3 0
3 years ago
(Numeric Entry) Suppose you put $1000 into a money market mutual fund that paid 10% a year, where interest was compounded annual
kkurt [141]

Answer:

$1100

Explanation:

Compound Interest is a multiplying effect interest , in which interest for each successive period  is calculated on (Principal + Interest) of each preceeding period .

Formula :  A = P(1+r/n) power 'nt  .

r = Interest rate , t = time , n = compound in time 't' , P = Principal

A = 1000 (1+10/1) power'(1X1) = 1000 X 11 power 1' = 1000 X 11 = 1100

5 0
3 years ago
Practice: True or False 1. Investment spending is spending on financial assets like stocks and bonds F 2. Transfer payments are
Colt1911 [192]

Answer:

1. False

2. True

3. False

4. False

5. True

6. True

Explanation:

1. False: Investment spending is spending on financial assets like stocks and bonds.

2. True: Transfer payments are not counted in the calculation of GDP.

3. False: If the nominal GDP increases then the economy is definitely experiencing inflation.

4. False: An economy is not at full employment unless there is no unemployment.

5. True: Countries that have generous unemployment benefits tend to have higher natural rates of unemployment. 6. True: Lumberjacks are structurally unemployment when they are replaced by machines.

8 0
2 years ago
Read 2 more answers
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