Sellers Market
(when demand exceeds supply, more buyers than homes available, leads to multiple buyers interested in a single property, this results in bidding wars driving the price up)
If the price of labor falls, the supply of goods rises and the prices of those goods fall.
If labor costs go down, it will cost less for a business to make products so they will make more and supply will go up. When supply goes up, prices tend to fall.
The bakery market in a large city is an example of Monopolistic competition.
Monopolistic competition exists when many companies offer competing products or services that are similar, but not perfect, substitutes. In this case, the bakeries in large cities that produce similar, but not identical products. The market structure is a form of imperfect competition.
Some of the characteristic of a monopolistic competition structure are;
The presence of many companies.
Each company produces similar but differentiated products.
Companies are not price takers.
Free entry and exit in the industry.
Companies compete based on product quality, price, and how the product is marketed.
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Answer: $10,746
Explanation:
Using Compound interest formula
A= p(1+r/n) *nt
A= final amount =?
P= initial principal =$8, 000
r = interest rate = 0.1
n= nob of times interest applied(3)
t=nob of times period elapsed (3)
A = 8,000 (1+0.1/3) *9
A = 8000 (3+0.1/3) *9
A= 8000 (3.1/3) *9
A = 8000 (1.0333) *9
A = 8000 × 1.34327
A= $10,746
1. London UnderGround is a public rapid transit<span> system that connects various cities in England.
London Underground is the first underground railway that ever created in the world and predicted to carry approximately more than 1.3 Billion Passengeeach year.
2. The original problem was that there's too much traffic on the street of London during that time., which reduce people's overall productivity because they have to spend a large amount of their time stuck on the road. Even until this day, this problem is not 100% resolved.
3. The major difference would be the transportation vehicle and the number of lines.
Initially, London underground was a pedestrian tunnel with only one line. In current time, London underground is a train transportation system with 13 lines that connect various cities.
4. Cross rail is the latest line that created in London Underground, which opened up a new route Between </span><span> Maidenhead and Heathrow.
</span><span>This line is about 118 Kilometers in length and is planned to be ready to use by December 9th 2018
5. TBM stands for </span>tunnel boring machines<span> .
</span>tunnel boring machines are the equipment that is used to excavate tunnels through soil and rocks. Compared to other method, tunnel boring machines provide less disturbance, smoother tunnel wall, and less chance to destroy the foundation on the upper ground.
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6. Eye of the needle refers to the </span><span> very crowded space that the Tunnel Boring much get through in order to create the Tunnel.
</span><span>This particular region tend to be realy hard to handle because small mistakes could make the tunnel walls to crumble and cause many harms to the workers underneath it.
7. I believe the biggest challenge would be grathering necessary budget.
the investment in creating underground tunnel, commonly only produce return of investmant in around 10-15 Years.
So, finding the orgaizations who are willing to take this risk is extremely difficult.
8. They allocate the engineers to both the bottom and upper ground at the same time.
The botto team is responsible in creating the tunnel, the upper team is responsible in identifying several characteristics such as Crack on the ground or hollow space.</span>
