Answer: c.
In a competitive market, there are many producers competing to provide consumers the products they needed and thus they cannot dictate prices.
If a surplus occurs, there is an excess of quantity supplied and since producers won't be able to sell all their products, they tend or are forced to lower their price.
The reverse happens when there is a shortage. When there is less supply in the market, price increases.
Surplus and shortage in a competitive market, therefore, will cause shifts in the demand and supply curves that tend to eliminate the surplus or shortage.
Answer:
If the supply of both changes, the computer price will increase more since it has an elastic demand.
Explanation:
Price elasticity of demand can be defined as a measure of how much the demand of a good or service changes with a corresponding change in price. It tries to estimate how much the consumers respond in terms of demand when the price of a good or service changes. The formula for determining the price elasticity of demand is as follows;
E=%D/%P
where;
E=price elasticity of demand
%D=percentage change in the demand which is given as;
%D={(final demand-initial demand)/initial demand}×100
%P=percentage change in price which is given as;
%P={(final price-initial price)/initial price}×100
The measure for the price elasticity of demand is absolute. A good or service can either be elastic or inelastic. A good that is elastic is one whose price elasticity of demand is greater than 1 which means that it's demand is highly responsive to changes in price. On the other hand, a good that is inelastic is one whose price elasticity of demand is less than 1 means that the changes in price do not affect it's demand.
Answer:
Devil's Advocacy
Explanation:
Devil's advocacy states that when an organization permits to an individual for criticizing the happenings in the firm at the time when the decision is relevant. The other person would be limited to access so this would increase the productivity and limits the group thinking
So here according to the given situation, Jim's allowance of Clara to display the proposal for criticism is called as the Devil's advocacy.
Answer:
I will lay out China's GDP growth rate in the last years:
YEAR GDP GROWTH RATE
2018 - 6.6%
2017 - 6.7%
2016 - 6.7%
2015 - 6.9%
2014 - 7.3%
2013 - 7.7%
2012 - 7.8%
2011 - 9.5%
2010 - 10.6%
2009 - 9.4%
2008 - 9.6%
2007 - 14.2%
2006 - 12.7%
2005 - 11.3%
2004 - 10.1%
2003 - 10.0%
2002 - 9.1%
2001 - 8.3%
2000 - 8.4%
1999 - 7.6%
1998 - 7.8%
1997 - 9.2%
1996 - 9.9%
1995 - 10.9%
1994 - 13.0%
1993 - 13.8%
1992 - 14.2%
China was growing a lot in the first years of the 1990s. The last half of the decade saw less grow because of the Asian financial crisis,
During the mid 2010s, China was again growing ove 10% every year. This boosted the world economy, for example, Latin America, because this region is an important provider of raw materials such as coal, oil and soy.
China was not seriously affected by the 2008-2009 financial crisis, or by the 2011 European debt crisis.
However, in recent years, the country has been growing less, probably because as it develops more, it tends to grow less. Same thing has happened to every developed country in the world. In fact, advanced economies like the United States or Germany rarely grow above the 2% rate per year.
Answer: Delegation
Explanation: Delegation in the context above may simply be explained as the process whereby there is a shift in the responsibility of one person to another who will function as a deputy. When an individual usually a superior, who is the actual overseer of a certain process or routine entrusts or handover to another person due to one reason or the other such as tight scheduling or shortage of personnel. In most cases the new handler is usually a lower ranking official in the task such as in the scenario above and as such, the expected rate of output is slightly reduced.