The balance between supply and demand is known as the market equilibrium.
The supply and demand are determined through the price mechanism in a free market. Such as if the goods or services are bought more frequently then their prices will go up and vice versa.
This means that the price mechanism helps to determine what goods are to be produced. In the case where the demand for good increase will result in price go up and will ultimately result in producers supplying more of those goods.
This system of price helps to scale the point where competing demands may be weighed by the consumer or producer requirements.
However, the movement towards the price equilibrium and the resulting balance between the supply and demand is known as the market equilibrium.
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Answer:
C) A firm's products are introduced into the market faster than its competitors' products.
Explanation:
Quick response refers to shorten the delivery time of products and services to meet the need of customers at the right moment. This is a way to survive the competition and increase the customer satisfaction. According to this, an example of competing on quick response wil be that a firm's products are introduced into the market faster than its competitors' products as the firm will be having a better delivery time than the competition which will allow it to put the goods first in the market which will give it an advantage by being first.
Answer:
Edgar
The amount he will owe on this debt in 2 years for quarterly compounding is:
= $7,387.28
Explanation:
Accumulated loan debt = $5,000
Interest rate per year = 20%
Period of loan = 2 years
Interest compounding = quarterly
From an online financial calculator:
N (# of periods) 8
I/Y (Interest per year) 20
PV (Present Value) 5000
PMT (Periodic Payment) 0
Results
FV = $7,387.28
Total Interest $2,387.28
The biggest aspect that limits farming in the Eastern Mediterranean is the split of tectonic plates.
<h3>Why have many economies of the Eastern Mediterranean sub-region been slowly developing?</h3>
They don't have much oil. They lean on agriculture, very small deposits of minerals, and manufacturing. Give illustrations of successful human intervention to rescue the environment of the Eastern Mediterranean sub-region.
Differentiate the conditions of coastal and inland subregions of Eastern Mediterranean nations. a. Coastal subregions include a Mediterranean climate, while inland areas have semi-arid steppe and/or arid desert circumstances.
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Answer:
lawyer's computer.
Explanation:
For the economist a stock is capital that can earn income or good that person holds and can sold for a particular price.
In this case the lawyer's computer is a good that the lawyer owns and can be exchanged for money. Also the lawyer can use the computer to help treat court cases thereby earning income.
