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3 years ago

If a decrease in income increases the demand for a good. True or False

Business

1 answer:

Masja [62]3 years ago

3 0

Answer:

If a decrease in income increase the demand for a good , the good is an inferior good.

An inferior good is a good whose demand falls when income rises and rises when income falls.

Inferior goods have an indirect relationship with income

A normal good is a good whose demand rises when income increases and falls when income falls.

Normal goods have a direct relationship with income.

A substitute good is a good that can be used in place of another good. For example if good A and B are substitutes, if the price of good A increases, it would become more expensive for consumers and consumers would shift to consuming good B. As a result the demand for good B would rise and the quantity demanded of good A would fall.

Complements are goods that are used together. If the price of one of the goods increases, the demand for the other good falls and vice versa.

For example, gasoline and car are complements. If the price of cars fall, people would increase their demand for cars and as result the demand for gasoline would increase.

I hope my answer helps you

Explanation:

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Mary from sales is asking about the plan to implement Salesforce's application. You explain to her that you are in the process o

Alenkinab [10]

Answer:

The correct answer here is A) marketing plan.

Explanation:

A marketing plan (which can also said to be a part of overall business plan) is a blueprint for the company , which outlines all the actions and strategy and efforts that are going to be employed to achieve the business objectives and goals. This plan would include taking out current marketing position of company, knowing target market , developing marketing mix that will be employed to achieve goals. As per the question getting technical specifications done of a product and setting the price for that product before that product is revealed for the first time comes under the marketing plan for that product.

7 0

3 years ago

For each of the following accounts, identify whether that item is an asset, liability, or equity account. Account Classificati

Ulleksa [173]

Answer:

a. Bonds payable Liability account

b. Equipment Asset account

c. Accounts payable Liability account

d. Salaries payable Liability account

e. Common stock Equity account

f. Retained earnings Equity account

g. Cash Asset account

h. Accounts receivable Asset account

i. Sales revenue Equity account

j. Inventory Asset account

Explanation:

All the assets account is debit in nature, so the equipment, cash, account receivable and Inventory accounts are debit in nature and these are classified as asset.

All the account with credit nature is either classified as Liability or Equity accounts. Equity accounts are common stock, retained earning and sales revenue. Liabilities accounts are bond payable, account payable and salaries payable.

8 0

3 years ago

Fredrick is single and lives alone. He paid more than half of the cost of maintaining a home for his father for the entire year.

Elan Coil [88]

Because Fredrick can not claim his father as a dependent then, the filing status that can Fredrick use is Single.

<h3>What is a filing status?</h3>

A filing status is a tax status that is used to determine a taxpayer's filing requirements, standard deduction, eligibility for certain credits, correct tax etc.

In conclusion, because Fredrick can not claim his father as a dependent then, the filing status that can Fredrick use is Single.

Read more about filing status

<em>brainly.com/question/1831273</em>

4 0

2 years ago

Quarter Inc. is an Italian company that set up its ventures in the United States. It sells watches—designed and manufactured in

spin [16.1K]

Answer: D

Explanation: Quarter Inc. cannot be legally charged because as a foreign entity, it is exempt from prosecution based on sovereign immunity. Once the defendant establishes that it is a foreign state, for the lawsuit to proceed, the plaintiff must prove that one of the Act's exceptions to immunity apply.

4 0

3 years ago

A bakery buys sugar in 15-pound bags. The bakery uses 5000 bags of sugar each year. Carrying costs are $20 per bag per year. Ord

Marianna [84]

Answer:

the total cost of ordering and holding sugar is $1,000 per year

Explanation:

<em>Step 1 Calculate the Economic Order Quantity(EOQ).</em>

EOQ = √(2×Total Demand×Ordering cost)/ Holding Cost per Unit

= √(2×250×20×5)/20

= 50

<em>Step 2 Calculate the total cost of ordering and holding sugar</em>

Total cost = Ordering Cost + Holding Cost

= (250×20)/50 × $5 + 50/2 × $20

= $500+$500

= $1,000

Therefore, the total cost of ordering and holding sugar is $1,000 per year

3 0

3 years ago