Answer:
a. preference
Explanation:
As in the question it is mentioned that the heather Green normally purchased heinz Catsup as she likes the taste but she decided to purchase another brand i.e. highly advertised also it was on sale and she really needs it
So here the Heinz achieved the preference as usually she purchased the Catsup product but sh purchased another product due to high advertisement
So the preference is shifted to another product
Therefore option a is correct
Hello. You did not present a diagram to which the question refers. However, I will try to help you in the best possible way.
The income effect is the term related to the increase or decrease in the consumer's purchasing power in relation to the fluctuation in the price of consumer products and the value of the national currency. On the other hand, the substitution effect refers to the impact between the variation of the consumers' income value and the product's prices.
Answer:
<h2>i hope D is right answer </h2>
Explanation:
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Answer:
a. other countries have a comparative advantage over Vietnam and Vietnam will import textiles.
Explanation:
A country has comparative advantage if it produces a good or service at a lower opportunity cost when compared to other countries.
The price of textile in Vietnam is higher when compared with other countries, this shows that Vietnam doesn't have a comparative advantage in the production of textile.
Vietnam should import textiles and use its resources to produce other goods for which it has a comparative advantage.
I hope my answer helps you.
<u>Answer:</u>
<em>(A) Principle of Supply and Demand
</em>
<u>Explanation:</u>
In economic theory, the law of the organic market is viewed as one of the significant standards administering an economy. It is depicted as the state though supply expands the cost will in general drop or increase, and as request builds, the price will in general increment or the other way around. The increase in demand is equivalent to moving the blue line to one side. A model would be twice the same number of clients needing to purchase the item because of good verbal exchange and promoting.
