Answer:
<h2>Among the answer options given in the question,athletic shoes are likely to have the most price inelastic demand.Hence,the correct answer is option A. or Athletic shoes(broadly defined).</h2>
Explanation:
In Microeconomics,price elasticity of demand basically measures the general responsiveness of the consumer to any change in the price of any particular product or service.Now,one of the criteria that determines or influences the price elasticity of demand for any product or services is the availability of substitutes.The more the number of substitutes a product has,higher will be the price elasticity of demand for that particular product.In this context,availability of substitutes depends on the categorization of description of the concerned product.For example,the more general the product category,higher will be the availability of substitute for that product and hence,higher will be its price elasticity.In this case,when we consider any general athletic shoes,there are usually less substitute products available in both domestic and international market that sell various kinds and types of athletic shoes.Therefore,the consumers have a considerably lower range of similar product categories to choose from and hence,in we consider athletic shoes in general or as a broad product category,the consumers will be relative price insensitive or price inelastic in economic language due to lower availability of consumption choices or substitutes.Now,running shoes or Nike athletic or general shoes all indicate product or brand specificity and the more specific a product becomes in terms of its category or type or the brand selling the product,higher will be the consumption choices or options or substitutes available to the customers leading to increasingly higher price elasticity of demand for those respective products.Here running shoes represent a specific or particular category within the broader shoe industry and Nike signifies a particular global shoe brand or company.Therefore,based product/brand specificity and the available of substitutes,athletic shoes in general would exhibit the most price inelastic demand in this instance.
Answer:
The answer is: Within 90 days; about 3 months.
Based on Organization Theory and Design, written by Richard Daft, boundary spanning <span>department involved with new products has excellent linkage with relevant sectors in the external environment.
The Research and Development (R& D) expands the network to associations and colleagues so they can easily understand the new trends and technology development. They can carefully study the right path on tailoring their product for their customer.
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</span><span>Furthermore, this component also accepts feedbacks and suggestions from customers and distributors which can be helpful to the company.</span>
Answer:
imports exceed exports by $50 billion.
Explanation:
Calculation to determine how much imports exceed exports
Gross Domestic Product $1.2 trillion
Less Consumption ($690 billion)
Less Investment ($200 billion)
Less Government spending ($260 billion)
($1.2 trillion-$690 billion-$200 billion-$260 billion)
Then:imports exceed exports by $50 billion
Answer:
A) Dr. Encumbrances – Office supplies No entry
Cr. Encumbrances outstanding
Explanation:
The journal entry is given below;
For Governmental fund financial statements
Encumbrances-Office Supplies $1,500
To Encumbrances Outstanding $1,500
(Being Office Supplies ordered is recorded)
For Government-wide financial statements
No journal entry is required as under the accrual accounting, no entry should be recorded until the transaction does not arise
Therefore the option a is correct
