Fiat money is paper money that has been made legal by a government decree. This is government-issued money but there is no silver or gold value backing it up. Commodity money is money that comes from the commidity in which the money is made. The objects have value within themselves and can changed based on the value of the object.
Answer:
1. p*=15 ; q*=25
2. Only 20 units are supplied at p=10
3. The ration coupon will cost 10
Explanation:
Considering the following formulas given by the exercise:
D=40-p
S= 10+p
1) Equilibrium price from graph = 15
Equilibrium quantity from graph = 25
2) From the graph only 20 units are demanded at 20 while at p=20 supply is 30. Only 20 units are supplied at p=10
3) The ration coupon will cost 20-10 = 10
It is essential that business market managers recognize which prospective customer firm is having a buying orientation. The statement is correct.
<h3 /><h3>What is Business?</h3>
Business refers to the activity performed by an individual or the group of the people produce the product for selling to the prospective customer in order to earn profits.
It is very important for the business to know the customers preferences and the habits in order to sell their product. Customers satisfaction is necessary for the growth and the survival of the firms.
Customers are the ones who have to purchase the product produced by the firm. Thus is makes very critical for business managers to have the knowledge about the buying habits of the customers.
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The first step is to investigate why the product recall was required. Then the manager should ask for details of the incident, follow up and report. Following these first steps will be essential in analyzing what was the problem with the product, whether it was any breach of the quality standard required by regulatory bodies or some other relevant factor.
Most art and antiques are <u>illiquid</u> and the transaction costs are <u>high</u> compared to those of financial assets.
"in addition to online services and SERPs, it's far feasible to find out how a great deal your antiques are worth by means of simply asking a vintage dealer or an appraiser at a public sale house, for example," Martin says.
In quick, vintage is a hundred years older, while antique is younger, although commonly nonetheless prior to 1999. it's a rather easy difference, but not necessarily as important as you watched it might be. The age of a chunk doesn'tdirectly correlates to price.
A real leather-based jacket from the Nineteen Forties could be taken into consideration as antique garb. Dictionary.com offers several definitions of the phrase antique: “of or belonging to the beyond; now not modern;” “relationship from a long ago;” and “noting or bearing on cars about 25 years vintage or more.”
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