Answer:
When PED is greater than one, demand is elastic. This can be interpreted as consumers being very sensitive to changes in price: a 1% increase in price will lead to a drop in quantity demanded of more than 1%. When PED is less than one, demand is inelastic.
so it is true
Explanation:
Seniority is being older or more experienced than someone else. An example of the seniority rule would be a 4 year senator being appointed to a committee over a newly elected senator.
Answer:
1/3
Explanation:
What is the size of MRSTO = 1 /3
The marginal rate of substitution calculates the rate at which a consumer would give up a unit of one good in exchange for one unit of another good while maintaining the same level of utility.
Answer:
Agile methodology
Explanation:
This is the methodology adopted in project development most of the time.
This approach is usually been used because the customer could not wait for so long till the completion of the project.
For this i would give you an example that we order some food at a restaurant. The waiter come to us and he keeps on giving us food after every short intervals like water, salad, starter and soups to keep us engage. Otherwise the customer would lose his temper while waiting for so long. We must say that the attention span of the people is very short , they could not wait due to lack of patience.
So in real world of project development we adopt agile methodology where we develop and deliver the project to customer in every little intervals. In this context our customer use to be in loop meanwhile the development of whole project. It is good for project manager to get feedback from the customer side by side on every little chunk of project. This approach is very good to keep your customer in loop of development . We could do negotiation meanwhile ,if customer needs some changes we could do it side by side.
Agile methodology is most of time adopted when the customer is not potential and less technical. In this case the customer could not give clear requirements to team for developing the project. During this methodologies we keep on tracking the user demands and requirements. The team lead or business analyst use to elicit the dos and dons of the project. In this way of project development we could easily give clear ad transparent picture to our customer that hows your project is going. There are lot project development methodologies but agile development is one the best methodology to keep the customers in loop. While in loop with customers it is easy for team to maintain the quality assurance side by side , QA team could also get involve for the rectification of the project.
The <em>federal reserve</em> use <u>open-market operations</u> tool to control monetary policy through<em> bank borrowing.</em>
<h3>What are open-market operations?</h3>
Open market operations tend to imply the process in which the Fed buys and sells securities of the government in the <u>financial market</u> or to <u>commercial banks. </u>
Therefore, the money supply stabilizes when Fed <em>sells securities</em> that <u>decrease</u> the borrowing capacity of the banks. Similarly, when Fed <em>purchases securities</em>, the banks' borrowing capacity increases which increase the <em>money supply. </em>
Learn more about Federal reserves here:
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