Answer:
A shortage can be temporary or long-term, but scarcity always exists.
Explanation:
Scarcity is a basic concept in economics which explains that human wants are unlimited and thus termed insatiable as the resources required to meet those needs are in limited supply.
As such scarcity as a concept has always been in existence and will always b. Shortage on the other hand is a limited supply of an item which may be in the short term or in the long run. While a shortage may be dealt with in time, scarcity will always be in existence.
Answer:
None of the available options are correct
Explanation:
The most accurate answer could be as follows: funds that arise out of normal business operations from its suppliers, employees, and the government, and they include spontaneous increases in accounts payable and accruals.
Suppose Thelma and Louise both sell tomatoes in a perfectly competitive market. If Louise increases the amount of tomatoes that she sells in the market, the price at which Thelma sells her output is unaffected
Explanation:
Competitive pricing means the selection of strategic price ranges for the best possible benefit in relation to competition of a goods or services in market.
Competitive pricing is mostly used by companies that sell similar items because facilities vary from company to business and the product's attributes are similar.
The reality is that competitive markets also produce quality and price products with lower prices, better quality ,and facilities, and more competition. Well educated customers analyse the products and make their own price-quality transaction.
In economies with persistently high inflation, an increase in the money supply will: not affect the real quantity of money, making money neutral in the long run.
The term "high inflation" refers to a rise in prices, which over time results in a loss of purchasing power. The average price increase of a basket of chosen goods and services over time can be used to determine the rate at which buying power is decreasing. A unit of money now effectively has less purchasing power than it had in earlier periods due to the increase in prices, which is frequently stated as a percentage. Deflation, on the other hand, is characterized by a drop in prices and a rise in purchasing power.
- The rate of increase in prices for goods and services is referred to as high inflation.
- Demand-pull high inflation, cost-push inflation, and built-in inflation are three categories that are sometimes used to describe it.
Learn more about high inflation here
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