Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
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Answer:
Goods on which consumer spend less proportion of his income has an inelastic demand like a needle and newspaper. But the amount of income of a consumer does not affect the price elasticity of demand. Consumer's income has no relation with the price elasticity of demand for a particular good.
Explanation:
The term that describes an action that can damage or compromise an asset is “Threat”. The word “Threat” can be explained as the possibility of damage of loss or compromise for an asset. Threat can include theft, accident, degradation, impairment, breakdown or other negative happening for an asset.
Hence “Threat” is the term that describes an action that can damage or compromise an asset.
Answer:
Depression
Explanation:
A long-term period of the economic recession that leads to a low GDP and very high unemployment is a(n) DEPRESSION
Depression is an economic term used to describe a deep tumble in an economy that occurs for a long period of more than six months. Depression lasts for years, and it is characterized by low real GDP and an awfully high level of unemployment.
Hence, in this case, the right answer is Depression.
