Answer:
4. Considers athletic shoes to be normal goods.
Explanation:
A normal good is a term used to describe a product or service whose demand increases as consumers' income increases. The quantity demanded of a normal good also increases if the economic conditions in a country improve. Goods or services that consumers view to be of a high utility value adopts the behavior of normal goods.
Max considers athletic shoes as normal goods. He regards them to be of high utility value. An increase in income makes him buy more of the shoes. Normal goods are contrasted by inferior goods whose demand decline as people's incomes increase.
Answer:
profit,risk,competition and productivity
<h3>The unemployment created by introduction of automatic elevators would be considered as structural
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Explanation:
Structural unemployment is a longer-lasting type of unemployment that is induced by structural economic changes and aggravated by external influences like technology, rivalry, and government policy.
Structural unemployment will last for decades and typically needs to reverse a dramatic shift. Technology continues to intensify systemic unemployment, marginalize certain workers and make certain occupations redundant, such as manufacturing. Structural unemployment can be long-term and difficult to address as it needs either displacement or retraining.
Answer: A) True.
Explanation: An economic crisis can represent a great opportunity disguised as a disaster, as well focused efforts to overcome it, can lead in entrepreneurial minds the possibility of reinventing themselves, defining new policies of their markets and achieving unthinkable achievements, which would not even be thought of in times of bonanza.
