Answer:
d. All of the above are correct
Explanation:
Demand refers to the quantities of a product that buyers are willing to purchase at a given price over time. The relationship between demand and price is explained in the law of demand. The law asserts that everything else remaining constant, the demand for a product is indirectly related to its price.
The demand curve illustrates the relationship between price and demand for a service or product. The curve is downward sloping showing how the quantity demanded changes with changes in price. Most goods will behave as per the demand curve. However, inferior goods tend to behave differently. An increase in income reduces the demand for an inferior product.
Answer is 2,000,000 . I need to add a little more sorry for this sentence
Answer:
<em>Economic growth refers to a steady increase in the production of goods and services in an economic system.</em><em> </em><em><u>True</u></em>
Answer:
c. a decrease in the wage rate of accountants
Explanation:
As a result of the revision that makes personal tax returns much easier to complete, people would no longer need the services of accountants to calculate their tax returns. As a result, the demand for accountants would fall, all other things remaining equal.
The fall in demand would lead to a fall in wage rate of accountants
Please check the attached image for a graph explaining this concept
Answer:
Market segmentation
Explanation:
Market segmentation is the process of dividing a market into distinct groups of buyers who have different needs, characteristics, or behavior.
The businesses use market segmentation to separate each market from another to study their demand closely. It helps them in catering to them according to their characteristics. They are able to treat every market according to its unique characteristics and generate more profit while doing that.