1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Soloha48 [4]
3 years ago
14

What are products that consumers demand less of when their income rises

Business
2 answers:
Mrrafil [7]3 years ago
4 0

Answer:

The answer is d.inferior goods.

Explanation:

Inferior goods show an inverse relationships with the income level. When the income increase, the demand decreases and when the income decrease, the demand for such good increases.

However, there are certain types of inferior goods, such as "giffen goods" that contradicts this relationship but such scenarios are rare.

8090 [49]3 years ago
3 0

Answer:

what are products that consumers demand less of when their income rises

Products that consumers demand less when their income rises are referred to as inferior goods

Explanation:

It is a natural phenomenon in economics that when there is an income rise from the consumers end, it changes their taste for a higher one which makes demand for some goods less and tagged them as being inferior

You might be interested in
QUESTION 1
babunello [35]
1.) A
2.) True
3.) False
4.) C
5.) C
6.) True
7.) True
8.) C
9.) True
10.) True
5 0
3 years ago
Soriano Company had net sales of $300,000 for the month (after returns and allowances of $1,500 and sales discounts of $3,250).
Yanka [14]

Answer:

Ending Inventory  $ 64,000

Explanation:

To define the final inventory of the company it's necessary to find the cost of good of the period.  

As the company had a 43% of gross profit, it means that for every dollar of sales we have 0,43 dollar of Gross Profit, with this value is possible to know the total cost of the goods sold during the period, that it's the difference between Sales Revenue and Gross Profit.  

Total Sales Revenue had to be the net value after returns and discounts as it's detailed.  

Income Statement  

Sales revenue        $ 300,000  

Cost of goods sold  -$ 171,000  

Gross Profit            $ 129,000 43%

Beginning Inventory  $ 60,000

Purchases                  $ 175,000

Cost of goods sold  -$ 171,000

Ending Inventory    $ 64,000

7 0
3 years ago
. In a perfectly competitive market, the demand curve facing each individual seller is assumed to be ... a) perfectly inelastic
bagirrra123 [75]

Answer:

e) perfectly elastic

Explanation:

Elasticity is a measure of the sensitivity of demand to the price of a product. If demand is elastic, bidders should avoid raising prices as demand decreases considerably. Conversely, when demand is inelastic, consumers are less sensitive to price changes. When demand is perfectly elastic, this means that a slight increase in the price of a good will cause all demand to flow to a competing supplier. This is observed in competitive markets where providers provide the same type of good for the market price. If one of them raises the price, he loses all of his market share. This is because consumers are rational and will buy the product that is offered at the lowest possible price.

8 0
3 years ago
Dr. Peabody recorded an $82 telephone bill that he will pay within thirty days. Which of the following statements is correct?
lana66690 [7]

Answer:

A. Telephone expense is debited $82; accounts payable is credited $82.

Explanation:

Mr. Peabody has incurred a debt of $82 on telephone expenses. His expenses have increased by $82, and his debts(liabilities) have also increased by $82.

An increase in expenses is recorded by debiting the relevant expense account. Mr. Peabody will debit the telephone expense account by $82.

Liabilities have increased by $82. An increase in liabilities is recorded by crediting the liabilities account. Mr. Peabody will complete this transaction by crediting the liabilities account by $82.

7 0
3 years ago
What is local technology​
Andrei [34K]
Local Technology is an IT services company focused on building businesses through leveraging the best technology solutions.
7 0
3 years ago
Other questions:
  • Casual Essentials, Inc. manufactures two types of team shirts, the Homerun and the Goalpost, with unit contribution margins of $
    13·1 answer
  • For each of the items indicate whether its amount affects the bank or book side of a bank reconciliation and is an addition or a
    8·2 answers
  • Land costing $77,900 was sold for $99,800 cash. The gain on the sale was reported on the income statement as other revenue. On t
    14·1 answer
  •  Question:
    6·1 answer
  • Why are free market economies able to grow?
    14·1 answer
  • True or false? reintermediation in the health care channel would be represented by a company such as zocdoc.
    13·2 answers
  • Burns Corporation's net income last year was $98,300. Changes in the company's balance sheet accounts for the year appear below:
    12·1 answer
  • Consider the following two mutually exclusive projects: Year Cash Flow (A) Cash Flow (B) 0 –$ 343,000 –$ 50,000 1 52,000 24,700
    8·1 answer
  • Challenge Tennis​ & Recreation's operating activities for the year are listed below. Purchases ​$174 comma 800 Operating exp
    12·1 answer
  • In a remote village, a person used five beaver pelts to buy a bag of rice and two beaver pelts to buy a pair of shoes. for what
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!