All categories

4 years ago

At a price of $50, consumers demand 1,000 pair of shoes, and sellers supply 500 pairs of shoes. At $50, there is _____.

Business

2 answers:

lakkis [162]4 years ago

7 0

Answer:

Since the price of shoes is lower than equilibrium price, at $50 there is a demand surplus because consumers would be willing to pay more for the shoes. That demand surplus will result in an excess demand, that is why consumers are willing to buy 1,000 pairs of shoes but since the price is too low, suppliers will only sell 500 pairs.

schepotkina [342]4 years ago

3 0

Excess Demand the demand is higher than the supply

You might be interested in

An example of consumer spending when calculating the GDP using the expenditures approach is _____.

fredd [130]

purchase of weapons for the military

5 0

2 years ago

This activity is important because as world trade has grown, more companies have entered the global market. Once a firm decides

Ann [662]

Answer:

Matching the correct global market entry strategy with:

1. Moodmatcher lipstick = b. Direct Exporting

2. Boeing = b. Direct Exporting

3. Yoplait = d. Franchising

4. McDonald's = d. Franchising

Explanation:

a) Global market entry strategies;

a. Indirect Exporting

b. Direct Exporting

c. Licensing

d. Franchising

e. Joint Venture

f. Direct Investment

Most of the globalized entities enter the global market space through direct exports to consumer countries. Some others engage in licensing and franchising, joint venture and indirect exports of their products and services to non-domestic countries. Huge revenues are earned through global trades. Some companies like MTN headquartered in South Africa earn more revenue in foreign markets than in their domestic markets.

6 0

3 years ago

March 1, 2017, Alpha Company's beginning work in process inventory had 8,000 units. This is its only production department. Begi

Nikolay [14]

Answer:see attached file

Explanation:

4 0

4 years ago

Read 2 more answers

Explain the difference between socialism and a pure command economy

AleksandrR [38]

Command economies have public enterprises where the government controls everything including business and production. In socialism, the means of production, distribution, and exchange are owned or regulated by the community as a whole.

4 0

3 years ago

A firm engaging in efficient production, using current technology, ________ produce its current level of production with ____

insens350 [35]

Answer:

Explanation:

Efficiency is manifested in the proper use of time, and resources for an intended purpose. Meaning, it is doing things right.

Production efficiency is based on a business's ability to produce the highest number of units of a good while using the least amount of resources possible.

Also, is the comparison of what is actually produced or performed with what can be achieved with the same consumption of resources (money, time, labor, etc.).

In this example, the firm has already meet the efficient point. It is not possible to produce the same level of production with less resources.

7 0

3 years ago