Their vast numbers translate into economic clout and political power
If GSU feels that raising tuition would enhance revenue, it is assuming that the demand for university education is inelastic.
- The quantity of a good that consumers are willing and able to buy at different prices during a specific time period is known as demand in economics. The demand curve is another name for the relationship between price and quantity demand.
- A change in demand whose percentage is less than a change in price. Demand is said to be inelastic, for instance, if the price of a good increases by 25% but drops in demand by just 2%.
- When there is a small change in the quantity demanded when the price changes, a good or service has inelastic demand. The term "price inelasticity of demand" is another name for this. An example of inelastic demand is gasoline, where individuals generally buy the same amount even when prices rise.
Thus this is the answer.
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Answer:
is counted in C, personal consumption
Explanation:
GDP = Consumption spending + Investment spending + Government Spending + Net Export
Consumption spending is all spending by households on services and goods which could be either durable or non durable goods.
Investment is spending by businesses.
I hope my answer helps you
Answer:
To encourage someone to do something.
Explanation:
Incentives is defined as a thing that encourages someone to do something. One negative incentive is to charge a big fine on the motorists for the high speed in the school hours so that they obey the laws strictly while on the other hand, example of positive incentive is to give rewards or gifts or medals to those who obeys the law of speed limits in the school hours.
