I believe that the answer that would best complete the given statement above is the term MOBILE transaction. <span>The ability to conduct financial transactions through a smartphone is known as mobile or online transaction. Hope this is the answer that you are looking for. </span>
D. Economics is the study of value, its transmission, and its effects, on human society and the organization of business
Answer: Option A
Explanation: In simple words, forecasting refers to the process under which an entity tries to make prediction about its future operations by using the past data and the present trends as a reference for analysis.
In the given case, Truzan creations keeps records of its past operations and current trends in market. Therefore, we can conclude that the company must use forecasting tools to generate predictions fro their future sale.
Answer:
The answer is: C) the elasticity of demand, where the shortages will be larger if demand is more inelastic.
Explanation:
When the demand for a product is completely inelastic it means that the quantity demanded for that product will be the same whether its price increases or decreases. Rarely any product is completely inelastic, but inelasticity shows a tendency of buyers to keep buying a product even if its price rises, for example gasoline.
Inelastic products don´t follow the law of supply and demand, since the price doesn´t alter the demand.
If suppliers can produce enough goods (product shortages) and the quantity demanded stays the same, the price will rise. But if the demand for the product is inelastic then the shortage will get worse since every time more people will want to buy the product and their will be less product to buy.