Answer:
the fact that the higher price of Raisin Bran relative to its substitutes, such as Cheerios, causes consumers to buy less Raisin Bran.
Explanation:
the substitution effect arises when as a result of a rise in the price of a good, the good becomes more expensive relative to its substitutes. Consumers not consume less of the good and more of the substitute. This leads to a movement up along the demand curve for that goods and not a movement along the demand curve for the good and not a shift of the demand curve.
If the price of the good increases. The good becomes cheaper when compared with substitutes. As a result, the demand for the good increases while that of the substitutes decreases.
The income effect is when an increase in price lowers consumer's purchasing power, holding money income constant.
Answer:
D) productivity in Poland is higher than in Romania.
Explanation:
Income and wages are directly related to productivity and economic growth. Productivity refers to the total output produced by each unit of labor, an almost all variations in the standard of living of a country and most variations in economic growth are associated with it.
The logic is that a worker that is able to generate a higher level of output should earn a higher income. E.g. if you are a salesperson that sells $200,000 worth of merchandise per month should earn more money that another salesperson that only sells $50,000 per month. Generally, the more money you earn, the higher your standard of living.
Answer:
Information that is top secret vip your eyes only
The next step after setting objectives is to assign or cascade those objectives to the team members or employees.
<h3>What are the other steps in the MBO process?</h3>
After assigning the objectives to the employees (usually through a line manager), the next steps are to:
- Monitor performance of those objectives
- Evaluate performance
- Reward performance.
Please see the link below for more about Management by Objective:
brainly.com/question/5731723
