The income effect is the change in the demand of the goods and services as an result of the change of the The increased voluntary income of the consumer. Hense, the best option that describes the income effect is;The increased income earned by suppliers because of high prices. :)
Answer: Technology is the recipe for combining land, labor, physical capital, and entrepreneurship to produce a good.
Explanation:
The different factors of production (land, labor, entrepreneurship, and capital) are the inputs required for the production of a good or service.
Technology is a term that has a rather wide meaning and can be applied to describe software, hardware, or a mixture of both employed to organize a manufacturing process. Either way, the technology available is the one that combines the land, the labor, the physical capital, and the entrepreneurship to produce a good.
Answer:
cooperations , conflict and competition
The problem with giving plastic power in the hands of a representative body is that through it you can give basically a wide range of possible abilities/power which they can exert as they please. This isn't the best idea to do when the current representative body is prone to corruption for example.
I’m pretty sure Nike will set it at a high price at first but once the demand gets lower they would set it at a lower price.
