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slavikrds [6]
3 years ago
11

Other things equal, demand tends to be more __________ the more substitutes there are available, and more _________ when the hig

her the proportion of the consumer’s income spent on the good.
Business
2 answers:
melamori03 [73]3 years ago
6 0

Answer:

Elastic/ Inelastic

Explanation:

Price elasticity of demand is a tool use to measure in economics to show the elasticity, or responsiveness, of the demanded quantity of goods or services to increase in its price. When the price of a good or service changes, inelastic demand is when the buyer's demand does not change when the price of the good or service changes.

nasty-shy [4]3 years ago
5 0

Answer:

Elastic, inelastic

Explanation:

Other things equal, demand tends to be more elastic the more substitutes there are available, and more inelastic when the higher the proportion of the consumer’s income spent on the good

One of the factors determining the price elasticity of demand for the good is the number of substitutes. More substitutes equal to more elastic demand.

general, the more good substitutes there are, the more elastic the demand will be. For example, if the price of lux soap went up by $0.25, consumers might replace their soap with a cheaper brand. This means that lux soap is an elastic good because a small increase in price will cause a large decrease in demand as consumers start buying other brands instead of lux soap.

When demand for a good or service is static when its price or other factor changes, it is said to be inelastic. So when the price goes up, consumers will not change their buying habits. The same applies when the price goes down.

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A product's ________ identifies the product or brand, describes several things about the product, and promotes the brand.
SCORPION-xisa [38]

Answer: label

Explanation:

Product labels are the piece of material

that are being attached to a product in order for easy identification by consumers in order to know the brand and also to know the contents.

A product's label identifies the product or brand, describes several things about the product, and promotes the brand.

6 0
3 years ago
Why does manufacturing's multiplier effect matter to an economy?
irga5000 [103]

Answer:

It has a greater impact than service industries.

Explanation:

6 0
2 years ago
Credit sales 172,000 collections on accounts receivable during the year 170,000 cash sales 818,000 unadjusted debit balance in a
Marina CMI [18]

Answer:

$250  ( C )

Explanation:

using the given data below is the entry

The adjusting entry to recognize bad debts will include a debit to bad debt expense for

<h3>  particulars                                                                   amount</h3>

Beginning accounts receivable                                                     14000

+ Credit sales made during the year                                             172000

(-) collections from debtors                                                            (170000)

(-) expected salary return & allowances for credit sales               (2000)

Ending accounts receivable                                                          14000

Percentage of bad debt                                                                 1.5%

Total bad debts balance required ( 14000*1.5%)                          210

+ Already debit balance in allowance for doubtful account         40

Total debit to be made in bad debts                                              250

Total debts = total bad debts balance required + already debit balance in all

                  =  210 + 40 = $250

7 0
3 years ago
Suppose you work for a municipal water department for a city with 200,000 people, and your job is to design a program that ensur
olasank [31]

Answer: i really dont know im just trying to get points so i can ask a question

Explanation:

4 0
3 years ago
Read 2 more answers
Benchmarking: allows industry participants to develop industry-wide standards. synchronizes the business processes of customers,
BabaBlast [244]

Answer:

compares the efficiency and effectiveness of your business processes against strict standards.

Explanation:

Benchmarking is a process of measuring the performance of a company’s products, services, or processes against those of another business considered to be the best in the industry, aka “best in class.” The point of benchmarking is to identify internal opportunities for improvement.

7 0
3 years ago
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