Answer:
Income effect
Explanation:
Own price increases are associated with decreases in quantity demanded, ceteris paribus. These decreases in quantity demanded are composed of two effects, the substitution effect and the<u> Income effect.</u>
We know as per the law of demand, price increases lead to decrease in the quantity demanded if factor remain constant.
Quantity demanded has effect of two other major factors:
- Subtitution effect.
- Income effect.
Subtitution effect: It is the price of subtitution goods & services also lead to increase and decrease of demand for any particular goods.
Example: Price of tea and coffee.
Income effect: It is the income of consumer that effect the demand of any goods & sevices, as with the increase in income of consumer, their demand for inferior goods decreases and demand for branded goods increases.
Example: Non branded clothes and branded clothes.
The answer is true because empowerment is a positive thing which leads to a positive outcome.
<span>The company is using market-penetration pricing.</span>
Answer:
Roberto Pesi Restaurants inc. mission is to offer delicious Italian and fast food in Toronto that will create a unique experience to each customer making them wanting to comeback. for this we have three restaurants that will satisfy the nutritional need of every single customer.
Explanation:
The mission of an enterprise must describe the desire goal of an enterprise its values and what kind of product or service it provides and in which area is situated its operation.
Answer:
A) adding more workers exhausts the possible gains from specialization.
Explanation:
When a worker specializes in a certain task, they will become more productive and efficient in performing the task. Worker specialization takes a long time, so it only applies in the long run.
In the short run when a company wants to increase its output, it cannot rely on worker specialization since they don't have the time to wait, they must hire more workers.
