The term inferior goods refers to goods that consumers demand less of when their incomes increase. The demand of this good would also decrease when the real GDP of the country increases. This would happen when a good would have a substitute that has more cost or price which would have an increase its demand as the people improve their income. An example would be coffee. A coffee from Mcdonald would be inferior to the coffee that is from Starbucks. When a person's income decrease, he would tend to buy coffee daily from McDonald since it is more affordable as compared to Starbucks. However, when his income rises, he would be preferring the one from Starbucks.
Answer:
for those who have fixed nominal wages than for those who have nominal wages that adjust with inflation.
Explanation:
Inflation can be described as a situation where there is continuous rise in the general price level of commodities in a country over a period of time.
One of the categories of people are affect most during high and unexpected inflation are those who have fixed nominal wages. The reason is that during high and unexpected inflation, their nominal wages now worth less than it was before the high and unexpected inflation. In order to avoid this, some workers now negotiate nominal wages that adjust with inflation so that the real value or worth of their wages will not be seriously affected whenever there is a high and unexpected inflation.
Therefore, high and unexpected inflation has a greater cost those who have fixed nominal wages than for those who have nominal wages that adjust with inflation.
Answer:
The company is using Communication.
Explanation:
Communication in marketing are the methods employed by a business to convey messages about their products to consumers either directly or indirectly, with the goal of persuading them to purchase.
Communication involves activities like promotions, personal selling , advertisement, events, radio advertising, and email campaigns.
Answer:
1. (e) Salary
2. (a) Cost
3. (f) Net pay
4. (b) Employee benefits
5. (d) Rewards
6. (c) Deduction
7 . (g) occupation
Explanation:
Salary refers to the consideration paid periodically for the services received from an employee.
Cost refers to the price which is incurred or paid to own, possess, manufacture or attain something.
Net pay refers to the gross pay less tax deductions and provident fund contribution, which the employee actually receives or in hand, take home salary.
Employee benefits refer to staff welfare schemes, the provident fund contribution by the employer, employee health insurance and retirement benefits.
Rewards refer to incentives and commission which are paid in addition to the salary, as a means for employee motivation and to appreciate employee's good performance.
A deduction refers to tax deductions and other contribution deductions which are subtracted from the salary. For e.g the amount deducted for the conveyance provided to employees by the employer.
Occupation refers to an activity or work which generates income and serves as a means of earning a living.
Answer: In Favour of Ewing.
Explanation:
When Dean made that promise, he got into a contract with Ewing.
Now for a contract to be enforceable, 4 components must be satisfied. These components are, Agreement, Capacity (mental), Consideration and Legality.
From the above text we can tell that this is therefore a valid contract because both of them agreed to the proposal and were both of sound mind when they did. There was a Consideration ( the benefit in the contract) of $10 per pound and this contract is legally sound so this is a valid contract.
Ewing has fulfilled his side of the bargain and is entitled to his reward or payment.
Dean's claim that Ewing’s improved health is a sufficient benefit for his effort and sacrifice which indeed is a benefit, should not be considered sufficient because it was not agreed upon as a term in the contract.