Answer:
confused
Explanation:
The goods whose demand decreases in the market when the consumer income rises are known as inferior goods.
The goods whose demand increases in the market when the consumer income rises are known as normal goods.
Thus, the reasoning of the student is confused as the classification of the goods on the basics of normal or inferior depends on response of the demand when there is a change in consumer's income. Thus, the student's own perception about such classification is confused.
<span>An opportunity cost is the value or benefit that must be given up to acquire or achieve something else. In this case whatever you choose (Coke, Dr.Pepper or 7-UP) everything would be free , at zero cost. This means that the opportunity cost in this case is zero, because the drink is free.</span>
Answer:
(B) more than one person can consume the same unit of the good at the same time.
Explanation:
A service is rival in consumption if the same unit of the good cannot be consumed by more than one person at the same time and nonrival in consumption if more than one person can consume the same unit of the good at the same time.
Answer:
Oil to Commodity market, Treasuries to current exchange market, and Dollars to bond market
Explanation:
The term used from the income statement to calculate turnover is (b) Sales
<h3>How to determine the term?</h3>
The turnover of property plant & equipment and receivables is calculated using
Turnover = Sales ÷ Average Inventory
The dividend in the above equation is Sales
Hence, the term used from the income statement is (b) Sales
Read more about turnover at:
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