An increase in the price of a product will reduce the amount of it purchased because:

Business

1 answer:

jek_recluse [69]3 years ago

3 0

Answer:

C) consumers will substitute other products for the ones whose price has risen

Explanation:

When prices increase the consumer purchasing power effect and they prefer to substitute the low price product for the one whose price has risen to match their income and expenditure. Higher expenditure will result in the lack of savings. So the correct answer is C) consumers will substitute other products for the ones whose price has risen.

You might be interested in

18. Information gained by applying someone else's survey information to your business is called A. potential customer sourcing.

ivanzaharov [21]

C demographic research

5 0

3 years ago

Read 2 more answers

Suppose that the government of Ping's country hears of the working conditions and the country seizes the Quality Dragon plant wh

ella [17]

Answer: a. expropriation

Explanation:

Expropriation happens when privately owned property are forcefully taken by government for it to be used by the general public. It is an act of depriving people of their right to property, although expropriation is to the advantage of the general public. In most countries especially in the US expropriation occurs when there is a need to embark on certain infrastructural project such as airports, railroads, etc.

6 0

3 years ago

Santos International is a beauty salon in Texas. The salon is conveniently located in mid-town, and there is plenty of parking.

Marta_Voda [28]

Answer: d. By choosing the right distribution channel.

Explanation:

In order for Santos to benefit effectively from the services they offer, they need to select the right distribution channel that will ensure that their products and services get to their customers in such a way that the customers are able to utilize these services.

They need to research the various distribution channels available to them and then based on the unique circumstances of their customers, decide which one would be best to ensure maximum reach to their customer base.

5 0

2 years ago

briefly explain what you consider an entrepreneur to be and describe the three most important attributes you need to develop to

expeople1 [14]

Answer:

An entrepreneur is a person who finds an economic opportunity in the market, and exploits it for his own benefit and the benefit of his employees and constomers by setting up a firm.

Explanation:

Three characteristic of an entrepreneur:

Opportunity seeking: entrepreneurs "scan" the market, seeking for market niches that have not been exploited.

Work-ethic: entrepreneurship is a difficult task, especially during the first years of the company. It demands very long work hours, and the entrepreneur must be willing to do that in order to be successful.

Risk-taking: entrepreneurs should evaluate risk when taking decisions, but they should not be the most risk-averse indidivuals. They have to take risks in certain situations because otherwise, they would not be able to become entrepreneurs at all.

3 0

3 years ago

Who on here can drive and lives in Florida?

iragen [17]

Answer: aye im 15 i can drive and no i dont live in florida

Explanation:

8 0

3 years ago