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Kipish [7]
3 years ago
12

Which statement is the best definition of the price elasticity of demand?The ratio of the percent change in demand to the percen

t change in income.The ratio of the percent change in price to the percent change in quantity demanded.The absolute value of the slope of the demand curve.The ratio of the percent change in quantity demanded to the percent change in price.
Business
2 answers:
Yakvenalex [24]3 years ago
8 0

Answer:

The correct answer is letter "D": The ratio of the percent change in quantity demanded to the percent change in price.

Explanation:

Price Elasticity of Demand is a measure of the response of one factor to a change in another variable. It can explain the degree to which supply and demand change with the price of goods or consumer income for a good or service. <em>We calculate elasticity by dividing the change in quantity demanded with the change in price</em>. A result <em>greater than or equal to 1 means a good or service is elastic</em>; <em>less than 1 means an inelastic</em> good or service.

Vikki [24]3 years ago
7 0

Answer:

The ratio of the percent change in quantity demanded to the percent change in price.

Explanation:

Price elasticity of demand measures how responsive quantity demand is to changes in price.

The formula is given by

Price elasticity of demand= Percetage change in demand/ Percentage change in price

Usually the price elasticity bis negative. Goods that don't obey the law of demand have positive elasticity.

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Examples of ______ are the AFL-CIO (a union) and the National Federation of Independent Business. Both are voluntary groups with
Vesnalui [34]

Answer:

Volunteer co-ops

Explanation:

Examples of VOLUNTEER CO-OPS are the AFL-CIO (a union) and the National Federation of Independent Business. Both are voluntary groups with the purpose of advancing member interests.

The above statement is true because Volunteer co-ops are otherwise known as Volunteer Cooperation is a form of cooperative relationship or establishment in which there are various volunteers involved in the process, whose purpose is to benefit real members or the citizens at large.

6 0
3 years ago
Who can help me? It will be greatly appreciated.
Salsk061 [2.6K]
Hello!

I believe the correct answer is: Consumer Market.
(Confirmed by three resources).

I really hope this helped you out! :)
5 0
3 years ago
Gareth's Grill, a global fast-food chain, does not offer beef burgers in India, while it offers only kosher foods in Israel. The
melomori [17]

Answer:

cultural variables

Explanation:

Based on the scenario being described within the question it can be said that the company is taking into account cultural variables. This refers to the different behaviors, outlooks, values and beliefs between people from different societies that make them unique. In this case selling different foods in different locations in order to compensate for the differences in beliefs is taking into account the cultural variables.

5 0
3 years ago
In which type of economy do people grow crops for their own use?
VARVARA [1.3K]
The type of economy that people grow crops for their own use is traditional .The correct answer is D. 
5 0
3 years ago
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A bank reconciliation with the headings "Balance per Books" and "Balance per Bank" lists three adjustments under the former and
Vlada [557]

Answer:

a. 3

Explanation:

Bank Reconciliation: The Bank reconciliation works with the balance of the bank statement and the balance of the cash statement. The aim is to compare those two statements to allow the company to run smoothly.  

There are different transactions because of which the balance of the bank statement and the balance of the cash statement do not match. We adjust the transactions accordingly to match those statements.

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These adjusting entries are required so that the cash balance should balance with the valid cash balance.

5 0
3 years ago
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