All categories

3 years ago

The demand for gold toe socks is likely to be more elastic than the demand for power tools because:

2 answers:

3 0

The demand for gold toe socks is likely to be more elastic than the demand for power tools because, generally speaking, power tools would be a bit more expensive than gold toe socks would be, and they also may have more substitutes than power tools would have.

PIT_PIT [208]3 years ago

3 0

The demand for gold toe socks is likely to be more elastic than the demand for power tools because the gold toe sock has more substitutes than the power tools

Further Explanation:

Price Elasticity: It measures the sensitivity of the demand for the services and goods to the change prices. If the demand is elastic then, the small change in price will result in the change in demand. If the demand is elastic then, the change in price will not effect the demand of the commodity.

The number of subsitutes available effects the elasticity of demand. If the number of subsitutes available is more then, demand will be elastic or vice versa. In the case of gold toe sock, there are many substitutes available that can replace the gold toe sock so the demand is elastic. But the

demand for power tools is less elastic because it has fewer subsitutes.

Learn more:

1. Demand and type of goods

brainly.com/question/11220857

2. Demand and supply of goods

brainly.com/question/11045011

3. Elasticity of demand

brainly.com/question/2396092

Answer details:

Grade: High School

Subject: Economics

Chapter: Elasticity of demand

Keywords: The demand for gold toe socks is likely to be more elastic than the demand for power tools because, the gold toe sock has more substitutes than the power tools.

You might be interested in

Travis has agreed to invest $16,000 in a partnership with his sister and brother-in-law. He does not intend to actively work in

german

Answer:

D. Limited partner

Explanation:

Limited partner -

It is one of the owner of a company or organization , where the liability of the firm's debt is not allowed to raise than the other investor of the company .

Limited partner is also known as silent partners .

The limited partner has very restricted voting rights on the business of the company , and even is not involved in the day - to - day activity of the business .

The role of the limited partner is to invests some amount of money for exchange of the shares in a partnership .

Hence , from the information of the question ,

Travis is a Limited partner in the given partnership .

6 0

3 years ago

The price component of a marketing mix is:

Murljashka [212]

Answer: the correct answer is a. a competitive weapon for companies

Explanation:

Pricing has an important role as a competitive weapon to help a business exploit market opportunities. Pricing also has to be consistent with the other elements of the marketing mix, since it contributes to the perception of a product or service by customers.

7 0

3 years ago

Vacation Destinations offers its employees the option of contributing up to 7% of their salaries to a voluntary retirement plan,

aliina [53]

Answer:

Follows are the solution to the given points:

Explanation:

For question 1:

Exp on the Debit Salary = $ 1,500,000

Credit payable Income tax = $375,000

Credit accounts payable (pension plan)= $63,000

Credit payable tax on FICA= $114,750

Credit payable salary (Balance) $947,250

For question 2:

Exp = $100,500 for Debit Wages

Cr.= $31,500 (Surgical Insurance) Payable accounts

Cr. = $6,000 in insurance accounts payable

Cr. = $63,000 Payable Accounts (Pension plan)

For question 3:

EXP= $207,750 for Debit Payroll Tax

Cr. = $114,750 for FICA payable tax

Cr. =$93000 for Federal and State (Unemployment tax)

$FICA TAX = \$1500,000 \times \frac{(6.2+1.45)}{100} = \$ 114,750\\$

Tax on state or federal unemployment $=\$ 1500,000 \times 6.2 \% = \$ 93,000\\$

5 0

3 years ago

Which of the following is the roadmap of where the business is going?

dusya [7]

The road-map which tells where the business is going is a Business plan.

A business plan is basically a map which visualize a goal desired outcome and draws out the steps needed to reach the goals.

In other word, a business plan shows where a company is going and steps required to get there.

A typical business plan will state likely Challenges, defined Objectives, Courses of Action, Initiatives, Mode of operation etc.

In conclusion, every successful business that exists today started with well-drawn business plan.

Learn more about Business plan here

brainly.com/question/15826771

7 0

2 years ago

In the context of intraorganizational processes, _____ are characterized by broadly defined jobs and responsibilities; loosely d

Dmitriy789 [7]

Answer:

organic organizations

Explanation:

Organic organization -

This type of organisation was given by George Stalker and Tom Burns .

It refers to the type of organisation , which is can alter and adapt to the changes easily , there is very less job specialization , no proper centralized decision - making process , and not proper direct supervision , is referred to as an organic organisation .

Hence , from the given information of the question ,

The correct term is organic organisation .

4 0

2 years ago