Answer: It means business is at the peak point or peak phase
Explanation:
Peak phase or peak point refers to the point in which the increase in growth rate of business cycle reaches its maximum limit. Economic factors such as production, profit, sales, and employment, are higher, but tend not to increase further.
In peak phase, demand gradually decreases due to increase in the prices of input because an increase in input leads to increase in the price of product without a corresponding increase in the income of customers.
As a result of the increase in price, the customer restructure their budget and this may lead to a fall in demand.
Answer:
The correct answer is option a.
Explanation:
An increase in the price of gasoline would make it expensive to purchase gasoline. The consumer will be able to afford a lesser quantity of gasoline with the same income. The price increase will decrease the purchasing power of the consumer.
As a result, the quantity demanded of gasoline will decline. But the consumer needs some time to adjust its demand. So the quantity demanded will reduce to a lesser extent in the short run.
But in the long run, the consumers will have enough time to adjust demands so the quantity demanded will decline to a greater extent in the long run.
Answer: When a restaurant owner purchases frozen shrimp from an unapproved vendor at a discount price, the food defense principle that has been violated is assurance/assure. The owner has to make sure that the food is from an approved vendor to ensure the quality of the shrimp and make it was handled and frozen properly.
Answer:
Globalisation
Explanation:
The concept is known as globalisation. Globalisation has revolutionised the flow of information, and it has created more jobs. More importantly, it pushed less developed countries towards economic growth, and it has provided more jobs, and improved the overall standard of living. In that regard, media has played a very critical role in the flow of information, and this has changed the small media companies into large media empires.
Standard:
Wool required = 2 yard^2 per coat
Cost = $44/ yard^2
Therefore,
Total standard cost per coat = wool per coat * cost per yard squared = 2*44 = $ 88 per coat.
The correct answer is C.