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Aleks [24]
3 years ago
6

Which of the following statements is not true? Group of answer choices Price elasticity of demand for basic foods is low. When p

rice elasticity of demand is very high, we say there is brand loyalty. The availability and price of substitutes affect the elasticity of demand for a good or service. When goods have very low prices, the elasticity of demand is usually quite low. Elasticities increase as the price of the good increases.
Business
1 answer:
neonofarm [45]3 years ago
8 0

Answer:

Incorrect Statement : When price elasticity of demand is very high, we say there is brand loyalty

Explanation:

Price elasticity of Demand is the responsiveness of quantity demanded to a change in price. That is, how much demand changes when there is a change in price. If demand changes significantly, it is price elastic (PED > 1), where the % change in price is lower than the % change in quantity demanded. On the other hand, if the change in demand is insignificant it is price inelastic (PED < 1), where the % change in price is higher than the % change in quantity demanded.

Brand loyalty is where consumers are likely to continue to purchase a product even with price changes and even if there are many other substitutes i.e. they are loyal to that brand. Hence, products with brand loyalty tend to be price INELASTIC, where even if the price is raised, it won’t impact demand as much since they still want to consume that product from that brand.

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Why are student loans usually guaranteed by the government?
Ksenya-84 [330]

Answer: Banks don't have any collateral for student loans

Explanation:

Students loans are the loans that are collected by the students so that they can be able to finance higher education. The loans can be gotten from private lenders such as bdnkd or by the government.

Student loans usually guaranteed by the government due to the fact that banks do not have any collateral for student loans but such students can be traced by the government in the case of default on the student's part.

Therefore, the correct option is D.

3 0
3 years ago
According to the specifications that a customer gave to a manufacturer, the length of a shoe should not deviate from the correct
vichka [17]

Answer:

Capability ratio = 1.04166

Explanation:

Given:

Length of a shoe (not deviate) = 1 mm

Standard deviation of this length = 0.32 mm

Number of standard deviations = 3

Find:

Capability ratio = ?

Computation:

Capability ratio = [Length of a shoe (not deviate) / Standard deviation of this length] / Number of standard deviations

Capability ratio = [1 / 0.32] / 3

Capability ratio = 3.125 / 3

Capability ratio = 1.04166

Capability ratio is greater than 1, therefore process is capable.

4 0
3 years ago
In an effort to promote rapid growth, the government of Goldinia has kept taxes low, done little to regulate business activities
lianna [129]

Answer:

D. A predominately capitalist approach toward achieving economic goals, but the current pressures it faces suggest it is likely to adopt a more socialist approach in the future.

Explanation:

Goldinia applied a capitalist approach based on low taxes, almost no regulation in business activities and implementing only modest social programs. The goal was to let capitalist activity (market, production, business, etc.) be and let it develop. It is not pure capitalist but predominately capitalist approach, as taxes do exist, there are regulations for businesses and there are social programs, although modest.

However, the government now is receiving pressure to introduce more regulations for cleaning up the environment and reduce the inequalities in income and wealth, which are socialist measures... so it could adopt a more socialist approach in the future.

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