Answer:
D) hamburgers and hot dogs are substitutes.
Explanation:
Option A is incorrect. When the price of one good increases, the demand for other good decreases. It is called complementary goods. In this question, due to the increase in the price of hamburgers, the Ruiz family started taking hot dogs. Therefore, hot dogs price is not increasing. Therefore, it is a substitute good. Substitute goods state that the increase in the price of one good leads to the increase in demand for another good. Therefore, option D is correct.
Normal goods and inferior goods are related to income, so those are not answers.
Answer:
The answer is: the 80/20 rule
Explanation:
Applied in business, the 80/20 rule (also called the Pareto Principle), states that 20% of your customers account for 80% of your sales. It doesn´t necessarily need to be an exact proportion of 80/20, but as a rule it should help organize our time and activities in dealing with our most important customers.
As a general rule it applies to most activities of a person´s ordinary life, were 20% of the time we spend result in 80% of the benefits.
Bright futures funds three scholarships.
Answer:
Case explained below
Explanation:
Development economics is a branch of economics which deals with economic aspects of the development process in low income countries. Its focus is not only on methods of promoting economic development, economic growth and structural change but also on improving the potential for the mass of the population, either through health, education and workplace conditions, whether through public or private channels.
Development economics must encompass the study of institutional, political, and social as well as economic mechanisms for modernizing an economy while eliminating absolute poverty and transforming states of mind as well as physical condition.
Answer: price leadership
Explanation: Price leadership is a circumstance where one business, typically the dominant one in its market, sets prices that its rivals follow closely.
This business is typically the one with the minimum cost of production, thus being able to outperform the prices charged by any rival who tries to set their prices below the price range of the market leader.
Rivals could increase prices than the cost leader, but this would likely lead to lower share of the market unless rivals were able to distinguish their goods adequately.
Hence from the above we can conclude that the given case depicts price leadership strategy.
