Conspicous Consumption was the term used by thorstein veblen to describe fundamental change in people's orientation to the economy.
Who was Thorstein Veblen?
Thorstein Veblen was a famous sociologist and economist who wrote the book The Theory of the Leisure Class. He wrote about the relationship between the economy, culture, and society.
Conspicuous consumption is the act of acquiring things or services specifically with the intention of flaunting one's affluence. When publicly displayed products and services are too expensive for other people in a person's class, conspicuous consumption is a way to demonstrate one's social position. Although it is frequently associated with the wealthy, this type of consumerism can occur in any income class.
The complete question is :
What term did Thorstein Veblen use to describe the fundamental change in people's orientation to the economy from producing goods to using them?
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Answer:
The answer is D.
Explanation:
The correct answer is D. universally true for all markets
Other things being equal, as the price of goods and services increase, producers/firms tend to produce more(this is the popular law od supply) inorder to take advantage of the high revenue.
Unlike demand, for supply, price and quantity supplied are directly related.
Answer:
E. identifying resources and capabilities in the company's home market.
Explanation:
Expanding into international markets gives a company access to new markets, thereby increases the number of its customers. The company will have to increase its production to cater to a large number of customers. Bulk production results in the company enjoying economies of scale.
For a company to enjoy to consider international markets, it must have already identified its capabilities in the domestic market. The reason for seeking foreign markets if to fully exploits its existing capabilities and resources. Expanding to international markets involves building on the already identified resources and abilities.
Answer:
a. The curve would not shift, the change in unemployment would be represented by moving from a point inside the curve toward the curve
Explanation:
Options are : <em>"a. The curve would not shift, the change in unemployment would be represented by moving from a point inside the curve toward the curve, b. The curve would shift to the left, c. The curve would not shift, the change in unemployment would be represented by moving from a point on the curve to a point outside the curve. d. The curve would shift to the right."</em>
Reduction in unemployment means that the resources are being well utilized , the ideal resources in the economy is being used , so the economy moves from an inefficient point to an efficient one. The change in unemployment will be represented by moving from a point from a point to a curve inside the point. So the nation's production possibilities curve would not shift
Answer:
The correct answer is geographic divisions
.
Explanation:
It is clear that IT Technology established its structure considering the geographical location, which offers great advantages insofar as it is possible to carry out an analysis of a structure from a leading person to the last collaborator in the chain. For IT, it is convenient to carry out this division, since you can treat it as an independent business unit that must comply with corporate regulations in search of minimization of threats and differential approaches in operation.
