If the economy's income rises, the price of a normal good like a trumpet will rise and the quantity will increases.
If the number of trumpet producers on the market increases, this means that there will be an increase in supply, which can mean greater availability of these goods and, consequently, a reduction in price.
In a situation where there are few substitutes for trumpets, demand will be relatively inelastic, as consumers are not as sensitive to price changes due to low availability.
<h3 /><h3>What is the law of supply and demand?</h3>
They are economic concepts related to the quantity of a good available in the market and its price, which are determined by the law of supply and demand, impacted by economic forces, such as income, producers, and policies for example.
Therefore, the greater the supply than the demand, the lower the prices, and the lower the supply, the higher the prices.
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<u>Answer:</u>
<em>It requires marketers to learn about all of the participants and their relative influence on the decision. </em>
<u>Explanation:</u>
Decision making can be performed by individuals or groups and includes employees as well as operational, middle, and senior managers. There are four stages in decision making: intelligence, design, choice, and implementation.
However, information systems are less successful at supporting unstructured decisions.. It requires marketers to learn about all of the participants and their relative influence on the decision.
Answer:
Adjusting entry
Date Account Title Debit Credit
Interest receivables $4,000
($600,000*8%*1/12)
Interest revenue $4,000
(To record accrued interest on note)
Answer:
b. list the average amount.
Explanation:
If your income varies, you should "list the average amount".
When a particular set of values vary, an average value is used. Average value is actually the estimated value which is found in two or more varying values. It gives an idea of what an expected value will be.
So, when income varies, the average amount is expected to be listed. This is done in order compensate even the lowest amount. So if two income varies, the average amount can be determined by adding the highest amount to the lowest amount, and dividing the outcome by 2.
Answer:
- Tax Code. For most small business owners, government regulation questions almost always begin with taxes. ...
- Employment and Labor Law. ...
- Antitrust Laws. ...
- Advertising. ...
- Email Marketing. ...
- Environmental Regulations. ...
- Privacy. ...
- Licensing and Permits.
Hope this is helpful to you
