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
LenaWriter [7]
3 years ago
8

To settle the dispute, you need to ensure that both owners understand the primary differences between consumer transactions and

business transactions. As you work on your explanation, you reflect on the characteristics that make business transactions different than consumer transactions. How would you describe the demand for business products?Select an option from the choices below and click Submit.- Inelastic: Demand for business goods tends to be me more inelastic than demand for consumer goods.- Elastic: Demand for business goods tends to be more elastic than demand for consumer goods.
Business
1 answer:
ASHA 777 [7]3 years ago
7 0

Answer:

Demand for business goods tends to be me more inelastic than demand for consumer goods

Explanation:

Price elasticity of demand is a measure of the sensitivity of demand for a good or service to changes in the price of that product. We say that the price elasticity of demand is elastic when a percentage change in the price of this good has major impacts on demand. On the contrary, we say that the price elasticity of demand is inelastic when variations in the price of goods have little or no influence on demand.

Elasticity is associated with tastes and the immediate need for consumption by the economic agent. For example, medicines have a more inelastic (less price sensitive) demand because they are essential items. However, in most cases, consumer transactions are opnative for consumers. However, in the case of business transactions, there is usually a need to demand good even though the price is high. As a result, the demand for business transactions is often more inelastic than the demand from ordinary consumers.

For example, imagine the airline ticket market. A consumer travels for leisure and an executive travels for work. If the ticket is expensive, the consumer may give up the trip. This means your demand for travel is elastic (price sensitive). However, the executive has little room to give up business travel and tends to travel even if the price is higher. Therefore, business transactions are more inelastic.

You might be interested in
The celebration of key accomplishments by chest bumps and the push-up contests reflected what level of organizational culture at
lesantik [10]

Answer:

Uber's Organizational Culture during former CEO Kalanick's tenure:

A. observable artifacts

Explanation:

Observable artifacts are the visible cultural manifestations prevalent in an organization, through which the organization's culture is expressed in tangible terms.  A culture of casualness will become visible in the dress code and how people address one another by first names or surnames.  Even the way products are displayed and offices are furnished reflect observable artifacts of an organization's deeper culture of acceptance and openness.

3 0
3 years ago
Suppose a local hardware store has explicit costs of $2 million per year and implicit costs of $44,000 per year. If the store ea
astra-53 [7]

Answer:

$94,000

Explanation:

A local hardware store has explicit cost of $2 million per year

The implicit costs are $44,000 per year

The store earned an economic profit of $50,000 last year

Therefore, the store's accounting profit can be calculated as follows

Accounting profit = Implicit costs + economic profit

= $44,000 + $50,000

= $94,000

Hence the store's accounting profit is $94,000

3 0
3 years ago
What is the term for when businesses produce goods and services that consumers do not want​
tino4ka555 [31]

Answer:

Productive (technical) inefficiency.

Explanation:

A market failure can be defined as a situation in which the market fails to produce an efficient level of productivity or output that is required to meet consumer demand.

This ultimately implies that, a market failure arises when there is inefficiency in the distribution or allocation of goods and services in a free market.

In Economics, there are two types of inefficiency associated with the production of goods and services, these includes;

1. Allocative inefficiency: it occurs when businesses do not maximise output from the given inputs. Thus, it arises when businesses fail to increase the level of their production or productivity from a number of given inputs.

In conclusion, allocative inefficiency typically occurs when the price of a good or service isn't equal to its marginal cost i.e P ≠ MC.

2. Productive (technical) inefficiency: it occurs when businesses produce goods and services that consumers do not want.​ This is typically as a result of the incorrect and inefficient allocation of scarce resources by a business firm or entity.

4 0
3 years ago
Araceli is a team member in a large corporation. She never speaks in team meetings because she has seen members talk behind each
Fynjy0 [20]

Answer:

B) Climate of trust

Explanation:

The problem seems to be Climate of trust. This fundamental factor allows teams to perform better than the sum of the performance of each of its members. Through an environment of trust, each member is supported and coached by other team members making individual improvements and increasing synergies within the team. A climate of trust is not exempt from criticism, but this criticism is understood as a helping tool rather than an instrument of personal harm. Finally, a climate of trust allows that errors and mistakes become a useful source of learning.

5 0
3 years ago
Brandon, a manager at fairpro technologies corp., is required to provide individual performance feedback to his subordinates. in
Fofino [41]

In this scenario, the communication between Brandon and his subordinates is at an interpersonal level. Interpersonal communication includes giving individual feedback and communication of future organizational goals or ethical guidelines to employees at company meetings

The interpersonal role is particularly critical for middle managers.

7 0
3 years ago
Other questions:
  • Arman sets the goal for his sales team to increase revenue by 40%. which main function of a manager does this demonstrate?
    7·2 answers
  • What is demand? (Select the best answer.) The amount of something available to consumers The amount of something consumers want
    6·2 answers
  • Setting the highest initial price that customers really desiring the product are willing to pay when introducing a new or innova
    8·1 answer
  • A regular customer, who is known for being demanding, comes in and asks for his favorite server. unfortunately, that server is n
    10·1 answer
  • Gideon Company uses the allowance method of accounting for uncollectible accounts. On May 3, the Gideon Company wrote off the $2
    7·1 answer
  • 4. The ____ condition requires that only one of the selected criteria be true for a record to be displayed.
    10·1 answer
  • Government can reallocate resources of an economy through taxes, ________ payments, and by providing direct services..
    14·1 answer
  • Paul, a manager at a logistics company. Wants to have Emma, a temporary worker, handle customers’ queries. Paul’s colleague. Ali
    10·1 answer
  • b. A second approach using the cost method of valuation will also be used to estimate value. Comparing vacant lot sales in the m
    7·1 answer
  • If you are an equity investor how do you make money from your investment?
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!