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3 years ago

The distinction between a normal and an inferior good is

Business

1 answer:

Romashka-Z-Leto [24]3 years ago

5 0

Answer:

The correct answer is C. when income increases, demand for a normal good increases while demand for an inferior good falls.

Explanation:

The normal good is that whose quantity demanded for each of the prices increases when the rent increases. A lower good is one whose quantity demanded decreases when income increases. The inferior goods are usually those for which there are higher quality alternatives. When it comes to a normal good, increasing the income of the consumer increases the quantity demanded at each price. Causing a shift in demand to the right.

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Sometimes labor unions try to increase the demand for the product they produce. They do so because the demand for labor is deriv

dybincka [34]

Answer:

c. higher; higher the demand for; higher.

Explanation:

Labor Union

A labor union is also known either trade union and workers' union and the organisation is a representation of the interests of workers or employees. Some specific functions and objectives of labor unions is to unit the workers and speak on their behalf on issues surrounding availability of work, wages, benefits and all other work conditions. Unions are most often grouped according to specific industries.

Based on the specific objectives of labor unions as mentioned, it is the interest of labor union to fight for higher wages as well as more demand for labor. Higher wages means higher conditions of living and more demand for labor means more employment opportunities. Therefore, making efforts to increase product demand will have ripple effect on demand for labor was well as higher wages.

Therefore, the higher the demand for the product labor produces, the higher the demand for labor and the higher wages will be, ceteris paribus

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4 years ago

The FDA banning a specific product that a company sells is an example of:_________

mario62 [17]

Answer: unsystematic risk that can be diversified away

Explanation:

The FDA banning a specific product that a company sells is an example of unsystematic risk that can be diversified away.

The above scenario is simply a company related risk and therefore an unsystematic risk but it can actually be diversified away by proper utilization and allocation of resources. Therefore, the correct option is E

6 0

3 years ago

Olivia recently opened a salon. she strategically priced her salon's services slightly lower than that of other popular salons i

just olya [345]

Answer:

a) comparative advertising

Explanation:

The given scenario exemplifies Comparative Advertising. It is a marketing strategy in which a product or service of a particular company is presented as superior when compared to a competitor's in terms of price, quality, etc. It may involve printing a side-by-side comparison of the features of a company's products next to those of its competitor as here Olivia listed the prices of various services that she offered as well as the prices charged by two other salons in the area for the same services.

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4 years ago

Former GVO marketing director, David Lieberman, tells a story about a new product idea proposed by a creative person. The idea w

WITCHER [35]

Answer: A - vested interests in the status quo

Explanation: Vested interests in the status quo is when people derive their income, job, status or power from something they have an interest in.

Even if the situation causes obvious harm to people or the environment, they work to keep the status quo for economic reasons. This causes a conflict of interest between what is good for the individual in the short term and what is good for humanity and the planet in the long term.

Vested interest structures impede and suppress innovations that would benefit society as a whole. The most practical solution is to implement a guaranteed livable income which would immediately reduce the impact and number of vested interests, and would free humanity to evolve and save the environment before it is too late.

5 0

3 years ago

Seth did menial work—mostly house cleaning—when he could find it. He had been homeless for a year, and since then simply did not

Advocard [28]

Answer: Under class

Explanation:

According to the question, Seth belongs to the under class as in the class hierarchy the underclass is one of the segment that belongs to the lowest position.

The people who belongs to the lowest or the bottom position in the society and also become the victim of the poverty in the society.

The underclass people are also comes under the economical weak section and they also lack of the educational and the social skills.

Therefore, Underclass is the correct answer.

4 0

3 years ago