1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Stels [109]
2 years ago
14

In economics, if a good is inelastic

Business
1 answer:
IRISSAK [1]2 years ago
6 0

Explanation:

Let us understand the term what is elastic & "inelastic".

Elastic: It is the change in the behavior of the buyer & the seller when the product price changes.

Elastic goods will always have an substitute.

Example: Books, pencil, Notebook, bread, etc,

Inelastic means: This is opposite of elastic. There will be same number of buyers when the price goes up or down.

Whether the price gets raise or lower daily we need food. So food is inelastic.

Eg.  food, prescription drugs, and tobacco products

You might be interested in
A global marketing strategy refers to: ​
FrozenT [24]

<span>A global marketing strategy refers to a marketing strategy used by a firm or a company to be able to compete worldwide. This is used to promote or market its products or services worldwide. This strategy is taken in response to the different international trading aspects and global market conditions.  </span>

5 0
3 years ago
Firms that can employ and establish _________________, are more likely to protect their competitive advantage from being copied
pishuonlain [190]

Firms that can employ and establish <u>isolating mechanisms</u> are more likely to protect their competitive advantage from being copied and/or eroding away.

Isolation mechanisms:

A company is able to maintain its competitive edge for a longer period of time if it can stop a rival from copying the resource or capability that provides it that advantage. Isolation mechanisms is the name of this technique. For instance, a patent is a legitimate tool to stop imitation.

A firm's objective is to have a prolonged competitive advantage when a resource or capability gives the firm an advantage over competitors for an extended period of time. The industry will determine how long a company can preserve a competitive advantage.

If a business can maintain a competitive edge for a year in a fast-moving field like information technology or quick fashion, it may be quite happy. In an industry with less frequent changes, such as feminine hygiene, a persistent competitive advantage may remain considerably longer.

A sustainable competitive edge cannot be maintained by any company indefinitely. The competition is constantly working to improve its own competitive edge.

Learn more about Isolation mechanisms here:

brainly.com/question/15095207

#SPJ4

7 0
2 years ago
What is one way in which bonds do not generate income for investors?
Aleksandr-060686 [28]

Answer:

D. Bonds pay dividends

Explanation:

Just finished the test :)

4 0
2 years ago
Read 2 more answers
Presented below are three receivables transactions. Indicate whether these receivables are reported as accounts receivable, note
tatuchka [14]

Answer:

1. Accounts receivable

2. Notes receivable

3. Other receivable

Explanation:

Sold merchandise on account for $64,000 to a customer - Accounts receivable. Since the merchandise is sold on credit to a customer, the same is recorded in the current assets of the balance sheet as accounts receivable.

Received a promissory note of $57,000 for services performed - Notes receivable. Since the promissory note is received for service performed which we term as a note receivable. This also come under the current assets of the balance sheet

Advanced $10,000 to an employee - Other receivables - As an advance is given to an employee neither is an account receivable nor it notes receivable. So, it is term as an other receivable

6 0
3 years ago
Jaleel's work group meets face-to-face and generates numerous alternatives to a product issue, many of them radical and a few ou
Paladinen [302]

Answer:

brainstorming as a part of it’s decision making process

8 0
3 years ago
Other questions:
  • The blackwell group is unable to obtain financing for any new projects under any circumstances. which term best applies to this
    9·1 answer
  • The income summary account has a debit balance of $10,000 prior to closing. the owner's drawing account has a balance of $7,000
    7·1 answer
  • Assume a firm increases its revenue by $100 while increasing its cost of goods sold by $85. How much additional tax will the fir
    12·2 answers
  • Committee chair Bill led a discussion with the rest of his committee about a club matter, then called for a vote. Since the comm
    9·1 answer
  • Cassandra's Boutique has 2,100 shares outstanding at a market price per share of $26. Sally's has 3,000 shares outstanding at a
    12·1 answer
  • Four years ago, Lyle Mercer was injured in a railroad accident and sued the railroad for damages. The jury required the railroad
    9·1 answer
  • Anne is a full-time student at UCLA buts works part-time as a waitress at a diner near her dormitory. She earns an hourly wage b
    7·1 answer
  • The Thomlin Company forecasts that total overhead for the current year will be $11,415,000 with 180,000 total machine hours. Yea
    13·1 answer
  • Which are examples of a person changing careers? Check all that apply.
    10·1 answer
  • Employee factors observed that may warrant further reporting and review by managers and other institutional officials include?
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!