Answer:
The correct answer is letter "D": the more substitutes a good has.
Explanation:
Price elasticity of demand is the result of the relation between changes in price and quantity demanded for a good or service. <em>Price elasticity of demand is calculated dividing the percentage change in quantity demanded by the percentage change in price.</em> If the result is equal to or greater than 1, the demand is elastic. This situation implies a minimum change in price will affect by far the quantity demanded of that good or service.
Thus,<em> products with many substitutes are elastic because a minimal change in their price would represent a large change in quantity demanded since consumers will find similar products that satisfy their needs in the same proportion.</em>
Answer:
I got B. secure access to natural resources.
Explanation:
The correct answer among all the other choices is B. $210. This is the total amount of interest earned at the end of 3 years. Thank you for posting your question. I hope this answer helped you. Let me know if you need more help.
Answer: Resources
Explanation: The production possibility model is used by the economist to evaluate the relationship between scarcity and resources. The basic assumption while preparing a PPM is that the time frame and resources for production such as capital, land and labor are fixed.
The PPM shows the production possibilities in an economy using only two goods. One of which is shown in X axis and one in Y axis. It helps to calculate the quantity of two goods that are to be produced with limited resources, resulting in maximum output to the economy.
I think it’s higher the risk and the lower present value
