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Aleonysh [2.5K]
3 years ago
5

A fall in the price of a product might cause a household to shift its purchasing pattern away from substitutes toward that produ

ct.
This shift is​ called _____________.
Business
1 answer:
ad-work [718]3 years ago
4 0

Answer:

The correct answer is: substitution effect.

Explanation:

The price of a product is inversely related to the quantity demanded. This implies that an increase in the price will cause the quantity demanded to decrease and vice versa.  

The consumers always prefer a cheaper substitute. So in case of a price rise of a product, the consumers will move to a  substitute at lower price.  

If there is a fall in the price of the product, the consumers will move away from the substitute to the product.  

This is known as the substitution effect.

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Which of the following statements can be used to explain the growth of international business? a. Many countries in Europe and A
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a. Many countries in Europe and Asia were devastated after World War II and had to be rebuilt.

Explanation:

a) after WWII the US emerge as world leader taking the place of the UK and trade betwene Europe and Asia making post in the US improved global trade.

b) The postwar boom increased demand for product.

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d) No, they weren't at all. Even Britain who didn't suffer land invasion has the south coast in ruins as a resutl of the aereal battle of brittian.

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Explanation:

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The financial ratio that measures the accounting profit per dollar of book equity is referred to as the:
WINSTONCH [101]

Answer:

Return on equity.

Explanation:

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Dream Homes is an appliance store. It recently launched its own brand of freezers in order to build customer loyalty. The store
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The Pricing strategy which Dream Homes implemented is known as Price lining (Option A) which categorized the prices accordingly with the financial soundness of the customers.

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