1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
BartSMP [9]
3 years ago
15

An inferior good is Multiple Choice

Business
2 answers:
stealth61 [152]3 years ago
4 0

Answer:

B. not accurately defined by any of these statements.

Explanation:

An inferior good is defined as one whose the quantity demanded decreases as the income of its consumers increases and vice versa.

<em>Option A is incorrect because the income elasticity for inferior goods is negative and therefore, as the income of the consumers increases, the demand curve shifts to the left.</em>

<em>Option C is incorrect because an inferior good does not necessarily mean a fake good. A good can be inferior but yet meet all the standards for approval by the FDA.</em>

<em>Option D is incorrect. The price and quantity demand for inferior goods, just like normal goods do not vary directly. This is only applicable to luxurious goods.</em>

None of the statements in A, C, and D accurately defined an inferior goods.

Hence, the correct option is B.

Talja [164]3 years ago
3 0

Answer:

B. not accurately defined by any of these statements.

Explanation:

Inferior goods are goods whose demand decreases as the consumers income increases. This is different for normal goods in that the more the consumer earns, the more he/she tends to buy.

As such, inferior goods are not necessarily goods that has not been approved by the Federal Food and Drug Administration.

For Inferior goods, prices and quantity demanded do not vary proportionately.

Furthermore, the demand curve for an inferior good shifts out (rightward) when income decreases and shifts in when income increases.

You might be interested in
Consumer education focuses heavily on a product’s
Tasya [4]
The answer is B- prices
6 0
3 years ago
1. National Computers, Inc., was incorporated in Nebraska, has its main office in Kansas, and does business in Missouri. Nationa
Gwar [14]

<u>National Computers, Inc., was incorporated in Nebraska, has its main office in Kansas, and does business in Missouri. National is subject to the jurisdiction of </u>( a)Nebraska, Kansas, and Missouri

Explanation:

<u>There are certain Jurisdiction Based on Real Property Ownership  which are limited and are termed as "in rem" jurisdiction</u>

A state( Kansas ,Missouri) has limited jurisdiction (which lawyers term as  "in rem" jurisdiction) over a non-resident person or business that owns real property in the state. The Jurisdiction  is limited in two ways:

  • Jurisdiction is applicable only to the fair market value of the real property. This means that if you sue a non-citizen who owns an business  worth $800,000, then in this case  ,your judgment can be worth is $800,000.
  • Also if , the claim  is  related to the property. For example, if you met an accident on the property of a non-resident owner of an business house, you could get jurisdiction over the owner. But you could probably not get jurisdiction over the non-resident owner if the lawsuit grows out of an entirely separate problem that has nothing to do with the apartment house.
4 0
3 years ago
Net credit sales for the year are $750,000. The end of year accounts receivable balance is $160,000. The allowance for doubtful
alexandr402 [8]

Answer: $3000

Explanation: Allowance for doubtful accounts is the contra account to accounts receiveable when all the bad debts need to be accounted for. The bad debts reduces the accounts receivable line but all bad debts are actually deducted from the allowance for doubtful accounts.

The allowance for doubtful accounts for that year is calculated as 5% of the accounts receivable balance. This amounts to $8000 (160000 x 5%) before bad debts have been accounted for. Allowance for doubtful accounts moves in the opposite direction as accounts receivable because it is a contra account to this line item. At the end of the year before year end closing entries are done, and after the bad debts have been accounted for, the balance on the allowance for doubtful accounts is $5000.

This means that bad debts for that year is:

8000 (balance before bad debts have been accounted for)

- 5000 (balance after bad debts have been accounted for)

= $3000.

5 0
3 years ago
Uppose a price floor on sparkling wine is proposed by the Health Minister of the country ofVinyardia. What will be the likely ef
Gekata [30.6K]

Answer:

C) Quantity demanded will decrease, quantity supplied will increase, and a surplus will result

Explanation:

Price floor is the least amount a good or service can be sold. A price floor is usually set above equilibrium price.

When a price floor is enacted, it usually discourages demand because prices are usually set higher and encourages supply.

As a result, quantity demanded will decrease, quantity supplied will increase, and a surplus will result.

I hope my answer helps you.

6 0
3 years ago
Stealing avocados, or almost any other agricultural product, is a felony in California if the product is worth more than $100. S
UNO [17]

Answer: Conflict theorist

Explanation: Conflict theory as pustulated by Marl, States that society is in a state of perpetual conflict caused by competition for limited resources available. It holds that social order in a society is maintain by dominance and power rather than conformity and consensus.

Conflict theorist views society as an arena of inequalities that create social conflict and social change. They are people that believed and hold conflict theory as a view.

5 0
3 years ago
Other questions:
  • Which type of product advertisement can be used to sell a company’s product when two or more other companies are selling the sam
    15·1 answer
  • Hoi Chong Transport, Ltd. Operates a fleet of delivery trucks in Singapore. The company has determined that if a truck is driven
    9·1 answer
  • 9) Given the following information, compute the total number of units for the period: Direct labor hours 12,000 Direct labor cos
    6·1 answer
  • Ano ang pagkakapareho ng mga katangiang pisikal na matatagpuan sa pilipinas ayon sa nabsang teskto?
    12·1 answer
  • List three things you can do to improve job satisfaction
    8·2 answers
  • A commercial real estate loan may take 90 days from the signing of the purchase and sale contract until loan closing. Therefore,
    6·1 answer
  • Atlantis Corporation has 10 comma 000 shares of 12 ​%, $ 84.00 par noncumulative preferred stock outstanding and 20 comma 000 sh
    9·1 answer
  • The liabilities of Oriole Company are $117,000 and the owner’s equity is $227,000. What is the amount of Oriole Company’s total
    15·1 answer
  • what was the role of Winnie madikizela-mandela in the struggle against apartheid in the 1950s to 1970s​
    6·1 answer
  • Which of the following is not a benefit of contributing to a retirement account
    11·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!