Answer: Decrease
Explanation:
According to the Law of Demand, The quantity demanded for purchase of a commodity inversely varies with the price.
That is to say that "ceteris paribus" ( with everything being equal),When the prices of a particular good go higher, people will buy less of such commodity but will buy more, if the prices of the goods reduces.
We can say demand is elastic if quantity demanded for a commodity decreases with increase in price which will make people choose another lower substitute good eg, detergent, ice cream
Also if quantity demanded does not change much with increase in price , then it is referred to as Inelastic Demand for example necessity commodity such as gasoline.
The requisite elements that must be established to demonstrate the formation of a legally binding contract are (1) offer; (2) acceptance; (3) consideration; (4) mutuality of obligation; (5) competency and capacity; and, in certain circumstances, (6) a written instrument.
The filter, I believe....not great with car stuff, but I know that much :P
Answer:
a) Baker's inventory turnover is <u>17.43 times</u> per year.
b) Baker's percent of assets committed to inventory is <u>8%.</u>
c) Baker's performance is <u>better</u> than the industry leaders.
a. We use the following formula to calculate the Inventory Turnover Ratio (ITR):
b. We can calculate the percent of assets committed to inventory as
.
c. Baker has the same percentage of assets in inventory as the industry leaders. However, its inventory turnover ratio is higher than that of the industry benchmark.
A higher inventory turnover ratio is preferred and is considered a sign of better performance, all other things remaining constant. Hence we can say that Baker's performance is better than the industry leaders.