1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Aleonysh [2.5K]
2 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]2 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.

You might be interested in
The Monster Truck operates several specialty vehicles that provide hot food and beverages for firms that have workers employed i
GaryK [48]

Answer:

The answer is 20.55 days

Explanation:

Solution

Given that:

Annual sales =$627,200

Average accounts receivable =$35,300

Now

The accounts turnover ratio (receivable) = Sales/Average accounts receivable

Accounts receivable turnover ratio = $627,200/$35.300

=17.76 times

Thus

Number of days payment receives = 365/ Accounts receivable turnover ratio =365 days/17.76 times

=20.55 days

Therefore The company takes 20.55 days to get payment for its services

7 0
2 years ago
Which aspect do you think is most important for an entrepreneur in order to achieve venture capital? Why?
Vinvika [58]

Answer:

savings

Explanation:

Because as an entrepreneur u need to save for the business you are doing

4 0
2 years ago
A forensic psychiatrist is asked by a judge to evaluate several forensic patients to identify which ones might be best suited to
Natalka [10]

Answer:

a.) psychiatric research

Explanation:

A research based on psychology is carried out with the sole purpose of analyzing the behavior of an individual or a group of individuals, based on their overall experiences. In this case, the research is also based on analyzing patients to see who is the best fir to participate in a community service project

7 0
2 years ago
Describe two types of drugs and the negative impact the abuse of these drugs can have on a person’s health
lozanna [386]
Cigarettes, it ruins your teeth, skin, hair, and plenty others.
steroids, it stunts your growth.
4 0
3 years ago
Read 2 more answers
The two main official measures of money in the united states today are​ ______. The two main official measures of money in the u
kirill115 [55]

M1 and M2 are the 2 main official measure of money.

M1 measures more liquid assets that are easily accessible to the owner including cash and checking accounts. M2 measures all of M1 plus "near money" which is money tied up in investments like savings, mutual funds, and other investments.

5 0
3 years ago
Other questions:
  • A​ 12-cylinder heavy-duty diesel engine will have a guaranteed residual value of​ $1,000 in five years. Today​ (year 0) the equi
    8·1 answer
  • Charmingbells inc. has been running into a loss gradually, but the board of directors are reluctant to shut the company down bec
    7·2 answers
  • Frasquita acquired equipment from the manufacturer on 6/30/2018 and gave a noninterest-bearing note in exchange. frasquita is ob
    11·1 answer
  • When a firm is experiencing economies of scale, long-run a. average total cost is minimized. b. average total cost is greater th
    15·1 answer
  • The following are the cash flows for each of the independent cases. Case 1 Case 2 Case 3 Cash provided by (used for) operating a
    6·1 answer
  • Suppose the marginal propensity to consume is 0.8 and the government votes to increase taxes by $3 billion. Round to the nearest
    5·1 answer
  • An investor has sold 1 ABC Jan 50 Call and has bought 1 ABC Apr 60 Call. This is a:________.
    5·1 answer
  • Lindsey Company uses activity-based costing. The company has two products: A and B. The annual production and sales of Product A
    5·1 answer
  • Sal’s satellite company broadcasts TV to subscribers in Los Angeles and New York. The demand functions for each of these two gro
    9·1 answer
  • You’ve been invited to help a foreign affiliate of your company set next year’s prices. Inflation last year was 5%, the unemploy
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!