Answer: The answer is elastic demand because elasticity of demand is > than 1
Explanation:Elasticity of demand is the degree of responsiveness of demand to slight change in price of goods. It is calculated as ED=% change in Qd/% change in price
Since Qd is 3 and 5
Qo-Q1/Qo*100%
3 - 5/3*100%
= -2/3*100%
= -200/3
=-66.6%(ignore the minus sign)
Po-P1/Po*100%
8-6/8*100
=2/8*100%
= 25%
ED= 66.6/25
=2.6
6-8/6*100%
=-2/6*100%
=-200/6
=-33.3%
ED= 66.6/33.3
=2
Since the elasticity of demand is greater than 2. Therefore elasticity of demand is elastic
Answer:
AGILE SYSTEM is very significant idea in the IT industry, which is relating to a system of project administration particularly for software development. It primarily includes in separation of errands into various stages and valuation of those tasks to accept new plans to improvise the procedure. It includes in development, growth, continues enhancement of procedure. The values helps to grow many software’s. As a project consultant, I choose these ideologies to progress various methods to start a pilot for agile.
Scrum is a subcategory of agile, which supports to grow project administration procedure in a specific way. A Scrum procedure is distinct from other agile procedures by specific ideas and follows. Scrum is most frequently used to achieve complex software and product development procedures by using iterative practices. Which rises productivity and decreases time. Scrum procedures supports organizations to regulate to the regular changes in the software to meet the commercial goals properly. Which mainly assistance to:
-
Enhance the quality
- Maintenance for the regular changes
- To approximation proper program to complete the job
- Supports more to regulator the project schedule
PROPOSAL:
TRAINING: Training is very much supportive at emerging various software’s with a collaboration of several cross functional groups. Which supports to stay operative and to be intelligent to change quickly as per the rapid variations. However, traditional project administration procedures tried to understand the motives for change but now which supports to work as per the rapid changes. For this, training from the authorities is more necessary
DEVELOPMENT AND EXECUTION: Agile Project Administration offers a set of outlines that shelters the people, goods and practices for effective application of projects in the modern business environment. Agile is now used to achieve any form of occupational change. Numerous courses assistance diverse investors within a project can fully comprehend precisely how to work within an agile situation.
Which is possible through.,
- AUTHORIZING BUSINESS TO DRIVE THE EFFORT
- PROVIDING ADMINISTRATION SUPPORT
- DEVELOPMENT SEVERAL PLANS THROUGH
- PRODUCT APPARITION
- PRODUCT ROAD MAP
- SPRINT PLAN
- EVERYDAY PLAN
- DISCHARGING THE PLAN
All these help to start a pilot for agile
Carlos sources the wood he needs from various lumber manufacturers and uses a distributor to get his products to the retail stores for sale. the suppliers of the wood, the distributor, and the retail stores are all part of a <u>Supply channel</u>
- Supply chain management, in the context of commerce, is the control of the movement of products and services between establishments. This can involve the transportation and storage of raw materials, inventories for commodities still being produced, finished goods, and the complete fulfillment of orders from the point of production to the point of consumption.
<h3><u>What are the supply lines?</u></h3>
- When seeking for the finest means to sell their products, a corporation can pick from four primary distribution channels. Direct sales, wholesale, brokerage, and dual distribution are available options. Choose your supply chain distribution partners wisely for best practices.
to learn more about supply chain, Click the links.
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Answer:
Inflation
Explanation:
Inflation refers to a situation of a general increase in the prices of goods and services in the economy. As prices of goods and services rise, the cost of living goes up. Inflation results in the purchasing power of currency to diminish.
Economist uses the consumer prices index to determine the rate of inflation. Inflation means a basket of goods and services will cost more today than it did in the prior period. Rapid economic growth that results in too much money in circulation causes inflation.
A type of production that focuses on making a large number of a few products rather than customer preferences is called mass production.
<h3>What is mass production?</h3>
Mass production is also referred to as continuous production or flow production and it can be defined as a type of production that focuses on manufacturing large quantities of a standardized product and it doesn't concern itself with customer preferences.
This ultimately implies that, mass production is mainly focused on making a large number of a few products rather than being focused on customer preferences. Also, the production is usually in a constant flow and automated by a mechanical process.
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