Explanation:
Income Elasticity of Demand(IED)= Percentage change in quantity demanded/ Percentage change in income
-Percentage change in Q:
%Change in quantity demanded= (q2-q1/q1) = (10-8)/8= 0.25
-Percentage change in Income:
%Change in income= (i2-i1/i1) = (4,500-4,000)/4,000= 0.125
IED= 0.25/0.125= 2
This indicates that the Shaffers are very sensitive to changes in income when it comes to eating out. Which means that changes in income will change significantly the number of times they eat out.
2. Restaurant meals are normal goods, in this case, because when income rises, they ate more in restaurants, then the units consumed for this good increase too.
Answer:
d. economic contraction
Explanation:
Contraction is in economics means it is business cycle phase where the overall economu should be fall. Also the contraction should arise when the cycle of the business is in peak but it should be prior to became as a trough
So at the time of economic contraction, the company normally took the measures of the cost cutting
So as per the given situation, the option d is correct
Answer:
B. Place Marketing
Explanation:
Place Marketing is also known as Place branding. It is a new type of marketing system that involves a country branding, state branding or city branding. It is a form of image communication to target market. It is simply the promotion of a particular place.
The town government of olaspen in this case is promoting their town through advertising its tourism in newspapers and on televisions.
A good example of a place practicing this in current world situation is Dubai. They do a lot of place marketing, marketing the tourism they offer.
Answer:
Product Concept
Explanation:
The one which represent the perception of the consumer or customer of the product as a bundle of the values of symbolic as well as utilitarian values and that satisfy the psychological, functional, social and the other needs and wants of the customer will be referred to as the product concept. And it is basically a blueprint of the idea.
Answer – Asset classes.
An asset class is a group of securities that shows similar features, acts in the same way in the open market and is under the similar laws and regulations. The three core asset classes are equities, or stocks; cash equivalents; and fixed income, or bonds, or money market tools
<span>
</span>
