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Juli2301 [7.4K]
4 years ago
9

What are a list of items that the most price elastic demand​

Business
1 answer:
Paul [167]4 years ago
4 0

Answer:

See below

Explanation:

Price elasticity of demand describes how responsive the product of a product is to changes in its price. The term elasticity originates from elastic, which means to stretch. A product is price elastic if a small change in price has a significant impact on its demand. Should the price increase by a small percentage, the demand decreases by a considerable difference.

The demand for some products does not react to changes in prices. A small percentage increase or decrease in price does not result in a big change in the quantity demand. Such products are said to be price inelastic.

Substitute goods or goods with close alternatives are the most price elastic. A small change in price will make consumers consider the other alternatives. Examples of price-elastic goods and services include transport services, furniture, motor vehicle, and professional services such as lawyers, doctors, and auditors.

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Productivity measurement is complicated by
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3 years ago
In 2018, CPS Company changed its method of valuing inventory from the FIFO method to the average cost method. At December 31, 20
MaRussiya [10]

Answer:

Dr Retained earnings $8.2

Cr Inventory $8.2

Explanation:

By changing method of an inventory valuation, the company should apply it retrospectively based on IAS 8 guidelines on change in accounting estimates and errors. Thus, the said difference from FIFO method to Weighted Average method of valuation should be credited directly against Retained earnings account because, accounts are already closed right after the year ended.

$32-$23.8= $8.2 million

To record the said adjustment you have to

Debit Retained earnings and credit Inventory in the amount of $8.2 million.

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4 years ago
A store manager for Kroger noticed that several of his regular customers have stopped coming to his store. He also noticed that
sergiy2304 [10]

Answer: True- An uncontrollable change in the marketing environment

Explanation:

 According to the given question, The manager of the store is noticed that the regular customer of his store is reducing day by day and the customers starts shopping from Walmart super-center.

So, the main  fundamental marketing problem is illustrated based on the given scenario is that an uncontrollable change in marketing environment.

An uncontrollable factors basically influencing the various types of organizational factors such as performance, demographics and the technological factors.

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6 0
3 years ago
Read 2 more answers
A(n) ________ is defined as a business that is independently owned and operated and is not dominant in its field of operations.​
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A Small business is defined as a business that is independently owned and operated and is not dominant in its field of operations.
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3 years ago
If your employer offers a retirement plan, don’t participate in it. Don’t bother to set target dates for achieving your financia
CaHeK987 [17]

Answer: Please refer to Explanation

Explanation:

If your employer offers a retirement plan, don’t participate in it. Yes.

Having a retirement plan with your employer especially one in which you are a 100% vested is a drain on your income. It might have benefits in future when you retire but if you want to engage in financial planning, you need to have access to every penny and that includes the money going to the retirement plan.

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Setting a target date for various amounts in your financial goals enables you to work towards them with more determination. It is important to set target dates.

Pay credit card balances in full each month. Yes

Paying your credit card balance in full every month helps you avoid interest accruing as well as increasing your credit score. It is therefore very important to pay off the balance in full every month which will be easier as long as you charge things to it that you can afford.

Start saving early in life and save throughout your life. Yes.

The more you save the more you have to invest. This is why you should start saving early if you want to engage in financial planning. You need to formulate the determination to save every time. And don't just save for saving's case, save to invest.

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