Define the markets, people, and environments you are addressing
Answer:
The correct answer is option C.
Explanation:
The decision-making process followed by consumers assumes that consumers are rational beings who are trying to maximize their satisfaction using their limited income.
So these consumers will consume the good or combination of goods that maximize their total utility derived from the consumption of these goods.
The consumers have limited income, they are aware of the marginal utility they derive from the consumption of an additional unit and they are also able to rank their preferences.
B additional living expenses because it’s additional
Answer:
I. Present values increase as the discount rate increases.
and
III. Present values are smaller than future values when both r and t are positive.
Answer:
Command economy
Closed Economy
Traditional Economy
Mixed Market Economy
Explanation:
A command Economy stresses the equality of all citizens.e. g Cuba and North Korea
A closed economy aims to be self sufficient with all activities confined to its economy.e.g Brazil's economy.
A traditional economy being the oldest form of economy upholds culture and history and as such relies more on bartering than money. It is mostly common in emerging markets and developing countries.
A mixed economy encourages private businesses with a degree of state monopoly.Example is the USA's economy.
