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3 years ago

If the quantity demanded of a certain good responds only slightly to a change in the price of the good, it means that

Business

1 answer:

Tanya [424]3 years ago

8 0

Answer:

If the quantity demanded of a certain good responds only slightly to a change in the price of the good, it means that the demand is inelastic, which means that changes in prices would almost not modify quantity demanded by consumers. Consumers are little affected by changes in prices.

This usually happends when there are no substitutes for the good. If the good has many substitutes, and the price goes up, consumers have the opportunity to swich their consumption to an alternative good.
A common example of inelastic demand can be insuline for diabetes patients (or another needed medicine with no substitutes): no matter what happens with the price of the product, usually consumers are willing to consume the same quantities although prices are higher because they really need the product.

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The following terms relate to the fundamental qualities of useful information. Match the key letter of the correct term with the

Bumek [7]

Answer:

1. Providing information that is not biased toward one position or another.

c. Neutral

As an accountant, you cannot prepare, record or select information in order to favor someone's personal interests.

2. Providing information before it loses its capacity to influence decisions.

d. Timely

Information must be available when it can influence future decisions. E.g. having a 2010 cost report today is useless if you are preparing next year's budget.

3. Providing information that is proven to be free from error.

b. Faithful representation

Faithful representation means that information must be accurate, complete, neutral, and free from errors.

4. Providing information that would make a difference in a business decision.

g. Relevant

Relevant information should be material and be either predictive or confirmatory.

5. Provide information that accurately depicts what really happened.

b. Faithful representation

Faithful representation means that information must be accurate, complete, neutral, and free from errors.

6. Providing information that confirms or corrects prior decisions.

a. Confirmatory value

It can be used to check, confirm or correct prior reports or evaluations.

7 0

3 years ago

if i asked a question and two people had to split the points. and i gave the question 60 points. how many points would each pers

nikklg [1K]

Answer:

30 points

Explanation:

If the question is worth 60 points, split between 2 people, it's 30.

5 0

3 years ago

Which theme can be found in both "If" and The Jungle Book by Rudyard Kipling?

Mkey [24]

Answer:

The correct answer is D. learning to stand alone is part of growing up.

Explanation:

5 0

3 years ago

Read 2 more answers

Adjusted balance method calculates interest using the balance at the _____ of a billing cycle, adjusted by any _____ made during

Elodia [21]

A. end; payments

B. beginning; purchases

C. beginning; payments

D. end; purchases

Answer:

C. beginning; payments

Explanation:

The adjusted balance method is a method that is usually used by banks in which they calculate the interest at the end of the period by taking the initial balance adding all the adjustments made to the account like a payment and then they calculate the interest using the end balance. According to this, the answer is that adjusted balance method calculates interest using the balance at the beginning of a billing cycle, adjusted by any payments made during the period.

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4 years ago

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Which of the following is an example of a quasi-public good?A) cable televisionB) organic applesC) stock of knowledge in the pub

Roman55 [17]

A public good is a product or service that is available to all members within a society. This type of good is given by the government or a private individual organization without hesitation of who is allowed to use it. Roads are an example of a public good because there is no exclusion on who can drive on a public road. A private good is excludable and only certain people receive the benefits from it. A quasi-public good has characteristics of a private and public good. A. Cable television is an example of a quasi-public good. Cable TV is available to everyone but for everyone to have the TV, they have to pay for it.

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3 years ago