According to one source from the internet, the cross-border sales is projected to top $450 within the next 5 years. Cross-border trade is the process of buying and selling of products, selling goods and services between business domestically or in the neighborhood countries.
Answer:
Price elasticity of demand shows how much a 1% change in the price of a good or services changes the quantity demanded.
In the short run, a 10% increase in price decreases quantity demanded by 4%
PED short run = % change in price / % change in quantity = 4% / 10% = 0.4
PED long run = % change in price / % change in quantity = 7.5% / 10% = 0.75
Both PEDs are inelastic since they are less than 1, which means that an increase in price will result in a proportionally smaller decrease in the quantity demanded. But the PED in the long run is less inelastic, which means that an increase in price will decrease the quantity demanded more in the long than in the short run.
This happens because smokes consider that cigarettes are a basic necessity, so they are willing to purchase them even if the price increases. But as time passes (long run), more smokers will consider that it is not worth paying that much for cigarettes and will probably quit smoking or at least reduce the number of cigarettes they smoke per day.
Answer:
c. Economists devise theories, collect data, and analyze the data to test the theories
Explanation:
Economists use past data to predict the future.
They make use of sound economic theory instead of rule of thumb to predict the future.
I hope my answer helps you
Answer:
b. False
Explanation:
Inventory Turnover tells us how fast the business is selling it's product. It measure the number of time an average inventory is completed its process from finished goods / Inventory to sales to customer. Higher the inventory turnover lower time of holding the inventory of each unit. So, the statement given is false.
Answer:
D. Impact
Explanation:
Psychological empowerment is the process of building an individual's confidence by focusing on factors that enhances the confidence level and also removing factors that hinders that confidence level. It occurs when employees perceive some level of control over their work life. There are four dimensions of psychological empowerment. We have:
1. Meaning
2. Competence
3. Self-determination
4. Impact
According to Spreitzer, impact is when an individual employee belief they can influence the strategic, administrative and operating outcomes at work.
The coach efforts in making the team the best in Brooklyn influenced the owners.
