Answer:
Interest rates will rise and GDP will fall
Explanation:
If the money supply falls, that makes money more valuable because there's less of it to go around. Interest rates will reflect this change in the value of money, with interest rates increasing because with money more valuable, there will be a greater opportunity cost to lending money. GDP, in turn, will fall, because money is one half of all economic transactions and so a decrease in the money supply necessarily decreases the number of economic transactions made.
The question is incomplete. See the attached image for the missing table showing the demand and supply schedule.
Answer/Explanation:
a. Equilibrium price is the price at which Qd = Qs. Hence, equilibrium price = $4, while equilibrium quantity is the quantity demanded at the equilibrium price, i.e. where quantity demanded = quantity supplied. Therefore equilibrium quantity = 8,000
b. At $5, there would be excess quantity supplied, i.e. Qs · Qd = 10,000 · 6,000 = 4,000. Hence, there would be wastage of resources as a result of surplus. This would lead to decrease in price in order to avoid the wastage of resources.
c. At $2, there would be excess quantity demanded, i.e. Qd · Qs = 12,000 · 4,000 = 8,000. This would lead to increase in price as a result of acute shortage in quantity supplied.
“Price insensitive” would be the closest answer
Answer:
they encompass the entire organisation
Answer:
time and money that could be used on other things
money that could be spend elsewhere.
feeling better and having more confidence
Explanation:
Trade off is the sacrifice that must be made in order to carry out a certain activity. By deciding to go shopping, i would be sacrificing time and money.
Opportunity cost is the cost of the next best option forgone when one option is chosen over other options.
The opportunity cost of buying new clothes is what I could have used the money to do instead
The benefits of buying new clothes are the advantages i would derive from owning the clothes
