<span>Factors of production, also called resources or inputs is an economic term that describes the inputs that are used in the production of goods and services in order to make an economic profit. The factors of production include: land, labor, capital and entrepreneurship.</span>
Answer:
along, outward
Explanation:
Complementary goods are goods that complement each other in demand. An increase in quantity demanded of one product leads to increase in sand of the other.
For example tea and sugar. Since tea and sugar are taken together, an increase in demand for tea should result in increased demand for sugar also.
So a decrease in X above will lead to increased demand for X which also increase demand for its complement (Y).
An outward shift in Y means that at all prices Y's demand has increased (demand shift outward).
Explanation:
Southern and Eastern Europe became the major spring regions. Some of the big driving forces is the World War I, primarily in Europe, which enabled immigrants to join the United States. The economic conditions were another significant consideration as the prospects for jobs in the war declined.
As reported, when migrants went to the USA, there were many possibilities for jobs. The American automotive industry celebrated of the first World War. War-time goods have been pursued, and America has become one of Britain's major food producers, and has provided refugees a wide range of jobs.
Firms with new products often estimate price elasticity of demand by experimenting with different prices. When a firm releases a new product, they have to estimate what the demand will be based on the price they set because they don't exactly know what consumers are willing to pay for their item. Often times, a focus group or some type of information pannel is set up to allow consumers to see the product and give recommendations on price points for the company.
