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2 years ago

5. When increased raw material costs increase prices for consumers, the situation is known as _______ inflation.

Business

2 answers:

Bogdan [553]2 years ago

7 0

5. C. cost push
6. A. Demand
7. A. Law of Demand
8. A. The product isn't a Necessity
9. C. Demand

MrRissso [65]2 years ago

5 0

Question: When increased raw material costs increase prices for consumers, the situation is known as _______ inflation.
Answer: C) Cost push.
Question: 6. What's the term for the idea that there aren't enough resources to satisfy everyone's wants and needs?
Answer: A) Demand.
Question: The _______ states that more of an item will be purchased at a lower price than at a higher price.
Answer: A) Law of Demand.
Question: What might cause a consumer to have an elastic demand for a product?
Answer: A) The product isn't a necessity.
Question: Consumer tastes or preferences would be most likely to have an effect on
Answer: C) Demand.

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Answer:

Please see attached solution

Explanation:

a. Cost of goods sold . Detailed explanation attached.

b. Ending inventory. Detailed explanation attached.

Note 1.

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