The term globalization describes the increasing connectedness of societies and their economies as a result of developments in transportation and communication.
<h3>What is Globalization?</h3>
This refers to the connectedness between different societies which brings them closer in terms of development and communication.
Hence, we can see that as a result of globalization, we can see that the world is now a global village and communication is fast and instant even across great distances.
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Answer:
$15,000
Explanation:
Joe has sold the house he has been living in for 10 years to the Smiths family
He sold the house at $300,000
Joe receives $50,000 more than the original price bargained 10 years ago
He pays the real estate agent a commission of 5%
= 5/100
= 0.05
Therefore the increase in gross domestic product can be calculated as follows
= $300,000×0.05
= $15,000
Hence, the transaction will increase the gross domestic product by $15,000
Answer:
an increase in equilibrium price and an indeterminate effect on equilibrium quantity.
Explanation:
An inferior good is a good whose demand increases when income falls and reduces when income rises.
If ramen is an inferior good, when income falls its demand would increase. This would lead to a rise in quantity and price.
An increase in the price of wheat would increase the cost of production of ramen. As a result, the supply of ramen would fall. Price would increase and supply would fall.
The combined effect would be an increase in equilibrium price but an indeterminate effect on equilibrium quantity.
I hope my answer helps you
Answer:
$4 per share
Explanation:
The formula to compute the regular yearly dividends in the future is shown below:
= Free cash flow ÷ outstanding shares
= $40 million ÷ 10 million shares
= $4 per share
It shows a relationship between the free cash flow and the outstanding shares
All other information which is given is not relevant. Hence, ignored it
One of the example of the commodities in which the sellers have little choice in setting selling price is books
In selling a books, all the price is usually arranged by the publisher and manufacturer and the seller could not really set the selling prices unless they have enough resource to self-publish
