Answer:
The good is considered a necessity.
Explanation:
Price elasticity of demand is a measure of the sensitivity of demand for a good or service to changes in the price of that product. We say that the price elasticity of demand is elastic when a percentage change in the price of this good has major impacts on demand. On the contrary, we say that the price elasticity of demand is inelastic when variations in the price of goods have little or no influence on demand.
Usually elastic goods are those that can be replaced, so that rising prices cause a drastic drop in demand that will flow to another product. For example, if the price of the burger rises, consumers may stop buying burgers and substitute pizza (assuming these products are substitutes). On the contrary, if the good is needed, it usually tends to be inelastic, that is, the price increase does not considerably decrease the demand, because consumers need this good. For example, medicines.
I just answered this to get a point sorry ☺
Creditors are interested in the times interest earned ratio because they want to "<span>have adequate protection against a potential drop in earnings jeopardizing their interest payments".
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The times interest earned ratio is also known as interest coverage ratio, which measures the capacity of an association to pay its obligation commitments. The proportion is generally utilized by banks to discover whether an debt borrower can bear to assume any extra obligation. It might be figured as either EBIT or EBITDA divided by the aggregate interest which is payable.
There are different aspect of management. The development of this strategy falls under the planning function of management.
<h3>What is the planning function of management?</h3>
Planning is simply known to be a function of management that entails putting out objectives and knowing the right course of action to achieving the stated objectives.
Planning often needs managers to be very much aware of environmental conditions that faces their organization and predict future conditions.
Conclusively, principles of management is grouped into the four major functions such as;
- Planning,
- Organizing
- Leading
- Controlling
Learn more about planning function from
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Answer:
Project Manager
Explanation:
Project Manager may be defined as the professional or the personnel in the field of the project management. The responsibility of the project management is to create plans and strategies and execute them to achieve their goals of completing a project under them. The coordination and interaction with the team members is very crucial in project management.
