Answer:
Option (B) is correct.
Explanation:
If there is an increase in the income of the consumer then as a result there is a parallel shift in the budget line. This increase in income will increase the real purchasing power of the consumers and hence, this would increase the quantity of two goods consumed in an equal proportion.
Other factors remains the same, an increase in the income level of the consumer will increase the consumption of both the goods because the prices of both the goods are constant.
Answer:
(a) Belief that a company will remain in operation for the foreseeable future.
Accounting assumption or principle: Going concern assumption
(b) Indicates that personal and business record-keeping should be separately maintained.
Accounting assumption or principle: Economic entity assumption
(c) Only those items that can be expressed in money are included in the accounting records.
Accounting assumption or principle: Monetary unit assumption
(d) Separates financial information into time periods for reporting purposes.
Accounting assumption or principle: Periodicity assumption
(e) Measurement basis used when a reliable estimate of fair value is not available.
Accounting assumption or principle: Historical cost principle
(f) Dictates that companies should report all circumstances and events that make a difference to financial statement users.
Accounting assumption or principle: Full disclosure principle
A price ceiling imposed on monopoly will lead to all, i.e., lead to a shortage, no shortage and drive the monopolist out of business.
A price ceiling is the maximum amount that a seller is permitted to charge for a product or service. Price ceilings, which are typically set by law, are typically applied to staples such as food and energy products when such goods become unaffordable to regular consumers.
A price ceiling is, in essence, a form of price control. Price ceilings can be beneficial in making essentials affordable, at least temporarily. However, economists question whether such ceilings are beneficial in the long run. Price ceilings are typically imposed on consumer staples such as food, gas, or medicine, often following a crisis or specific event that causes costs to skyrocket.
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Answer:
D. Job Sharing
Explanation:
two part time workers sharing the same job
Answer:
Correct option is
B
as the consumption of a given product rises, the added benefit eventually diminishes
Law of diminishing marginal utility is based on psychological law that as more and more units of a commodity is consumed, marginal utility derived from every successive unit will decline in respect to all goods with a few exception.
Explanation:
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