Answer:
Concept: Business digression
- Lets assume you live in Los Angeles CA
- LA houses the Lakers, dodgers, and so many more big brand teams.
- A consumer which is defined as any person in a free and open market to openly trade their wealth and income in return for an item or service.
- Residence defined as the area that surrounded the immediate perimeter of the said consumer.
- Hence, by the principle of <u>socialization</u><u> </u>people are more inclined to buy sports gear to represent their teams and inclined to participate in consumer purchases based on their peers.
- It becomes the "lifestyle" and "ideal" personalities in a place such as LA and this inherently drives up sales of sports and entertainment commodities.
- The location, or residence directly <u>exposes</u> the consumer to the products in a market where it "hot" and in style/demand.
- Rate brainlist & give positive feedback.
Answer: 5
Explanation: C
Consumer surplus is the difference between the quantity that a consumer is eager to pay for any product and the amount that he or she really ends up paying for that commodity. In this question Melanie was expecting to pay $79.95 when she saw the tag. Later she came to know that the coat was on a sale and she would have to pay 20% less. She finally paid $63.96 that is $15.99 less than the stated price $15.99. Thus, $15.99 is the consumers' surplus.
Answer:
(a) GDP is a dependent variable and aggregate net investment is a independent variable. There is a positive relationship between the variables which means that an increase in the net investment will lead to increase GDP.
(b) There is a negative relationship between the variables which means that as the supply of wheat increases, as a result price of wheat falls. So, as the number of acres of wheat planted in a season increases as a result price of wheat decline.
(c) There is a negative relationship between the variables which means that an increase in the interest rate in an economy will lead to increase the cost of borrowings and hence, net investment falls.
(d) There is a negative relationship between the variables because of the law of demand. It states that an increase in the price of a commodity will lead to reduce the quantity demanded for that commodity.
(e) There is no relationship between these variables. Both the variables are totally uncorrelated.
Answer:
(B) I and II
Explanation:
Price discrimination is when a producer charges different prices for his good or service.
Third degree price discrimination is when consumers are charged different prices for the same good due to certain factors. E.g. age, gender, location.
Second degree price discrimination is when consumers who buy in bulk are given discounts.
First price discrimination is when consumers are charged different prices according to their willingness to pay. Example of first price discrimination is initially charging high prices and then reducing the price over time to sell to the more price-sensitive consumers.
I hope my answer helps you.
