Answer:
D. They provide the four factors of production and spend money on the product market.
Explanation:
In circular flow of business, all the players namely; household, government agencies, firms and others in an economy have an important role to play.
The level of a nation's employment status, price level and income are determined as a result of various interactions among firms/businesses, household and government agencies.
When a unit spends money, it becomes the income of another unit. Household goes to market with their monies to buy goods and services, while firms goes to the factor market to buy the resources, which are owned by the household, to produce the goods and services.
As for the government agencies, they collect taxes on the goods and services produced and on income(both household and firms) . Government also buys goods and services inorder to produce specialize goods.
Through these interactions, money and business changes hands from the household to the firm and then to government. It goes back to the household and the list goes on and on.
Answer:
An elastic demand curve will result in higher social surplus. Social surplus equals consumer surplus plus supplier surplus, or simply total surplus. The highest possible social surplus is reached at the equilibrium point.
If a product's demand is completely inelastic, the supplier can increase the price at will, reducing consumer surplus to minimum levels. If a product's demand is completely elastic, then consumer surplus increases while supplier surplus is directly related to shifts in the demand. Higher demand increases supplier surplus.
Answer:
The four Ps happens to be the four significant factors that come into the vicinity when certain service or the good is being marketed with the public as the buyer. And the four Ps are product, price, promotion and the place. We need to select the bank which is nearest to us, and about which we have heard a lot and are confirmed about good service. The $100s checking account is not going to print interest for us, but we need 24 x 7 service as its a sort of current account, and we need to do the daily transaction through it. And hence the bank should provide all the time good service, and most probably 24 x 7 service. And this defines their product. Also, they should charge the least service charge, and that is the price. The bank which best fit according to above 4 p's, is the bank I will choose.
Explanation:
Please check the answer section.
Zumiez is the best clothing store ever and they sell real expensive brands for less
Answer: c. Individuals who study music tend to be more intelligent.
Explanation:
The underlying assumption of the argument above is that the individuals who study music tend to be more intelligent.
This can be infered in the statement that "Generally, individuals that study music achieve more exceptional scores in subjects such as math and language arts". In this case, a connection was emphasized between academics and music.
