Answer:
to know what the other people are interested in, for example they do a survey to see how much of each product they need and the popularity of how many people like the stuff, those are 2 reasons, quantity and I would say popularity 3: get the people to know that enreprenuer cares 4 and five just think about it, I cant really think of anymore
Explanation:
Good judgement is important in making decisions when budgeting because they can allow one to predict fairly accurately what the costs will be of a particular project based on one's own experience and of the current prices of supplies and say drilling charge rates and also with an adequate allowance for contingency.
Answer:
2. If two investments have the same expected return, the investment with the greater risk is preferred.
Explanation:
The statement above is clearly incorrect. If two investment are expected to return the same amount of money to the investor, then, the investor will seek the investment that has a lower risk, because risk, as the meaning of the word implies, is a variable that may impede the realization of the return.
No rational economic agent or investor would choose the riskier investment in this situation.
Answer:
Option (A) is correct.
Explanation:
Luxury goods refers to the goods which are having positive income elasticity of demand. Positive income elasticity of demand is defined as the direct relationship between the demand of the goods and the income of the consumers.
If there is an increase in the income level of consumers then as a result there is an increase in the demand for luxury goods by a greater proportion. That's why the income elasticity of demand is relatively larger.
