Answer:
The correct answer is letter "B": importer.
Explanation:
Importing implies the act of buying goods from foreign countries to use them or resell them domestically. Imports take place when those goods are typically rare or scarce in the country where the goods are going to be used. Most imports include <em>technological products, raw materials, </em>and <em>clothing</em>.
Answer: Price inelastic
Explanation:
The residents of Denver behave in a price inelastic manner to changes in price of water as observed in the question.
A price inelastic demand behavior is one in which changes in price of a commodity does not in any way influence the demand behavior of buyers in a market.
Answer:
a) the demand curve for Merlot has shifted to the right faster than the supply curve has shifted to the right
Explanation:
As the income of consumers have increased that means that the buying capacity has increased, which contributes to increase in demand of the product.
Further the raw material required to manufacture the product now cost less, accordingly the supply will also be increased.
But the supply would only increase if the producers realize that the demand has increased.
Accordingly, demand shall increase faster than the increase in supply.
Answer:
Lowered, improved, increased, choice
Explanation:
Free trade has not produced all of the economic impacts that were originally predicted. At the same time, it is known that global shifts in production and trade have generally lowered consumer cost, improved company profits, and increased product choice.
Answer: D. benefit or hurt another agent who is not part of the exchange relationship.
Explanation: Externality is a benefit or hurt to another agent who is not part of the exchange relationship. It can be positive or negative.
Majorly it affects the people around who has nothing to do with the effect itself.
