Answer: Coefficient of elasticity of supply is 0.75.
Explanation:
Price elasticity of supply measures the responsiveness of quantity supplied to a change in the price of the good. It can be measured using the percentage point method,
Therefore, coefficient of elasticity of supply is 0.75. Since it is less than 1 we can infer that supply for this good is relatively inelastic.
Answer:
(a) $ 1200
(b) $ 702.5
Explanation:
In the demand and supply curve, the price of goods and services changes with respect to market conditions such as scarcity and consumers' needs. In the problem, if the producers charge about $497.50, the scalper will definitely charge a price higher than that of the producers, in this case, $1200. Thus, this is $702.5 (i.e. $1200 - $497.50) more than the producers' charge.
Answer:
identify value
Explanation:
Finding out how a product or service will do in a certain market is an example of this "IDENTIFY VALUE" market research. This will help the producers understand and know what the consumers want and the degree of value they placed on their products.
identify if communications are effective is used determine who the consumers are and the type of media preferred.
identify if consumer needs are being met is used to determine what customers like or dislike about a product or service.
identify threats and investigate the competition is used to determine changes in consumer preferences and competition
Answer:
The correct answer is option A.
Explanation:
Consumer spending refers to the expenditure of households on consumer goods and services. The aggregate consumer spending depends upon the disposable income of the consumer, the real interest rate, consumer optimism and wealth.
Consumer spending is positively related to disposable income, consumer optimism and wealth. The real interest rate is inversely related to consumer spending.
Answer:
The correct answer is d. accounting cycle.
Explanation:
The accounting cycle, also known as the accounting process or registration flow, is the period in which the Company chronologically and reliably records each transaction in its respective Daily Book in order to analyze, prepare and prepare financial information.
The accounting process is made up of all the steps that must be followed since an accounting event occurs until it is introduced into the system and, therefore, is reflected in the financial statements.
The stages of the accounting cycle begin with the identification of the accounting fact, such as with a sale of merchandise. The next step is to generate an accounting document that supports this transaction and allows it to be reflected in quantified accounting in monetary units and with a specific date.
Once this document is generated (delivery note or invoice) the operation is recorded in the Daily Book. At the end of the accounting cycle, which is usually from January to December, the transactions are transferred to the general ledger. After some regularizations (amortizations, reclassifications between short term and long term, calculation of the result, etc.) the accounting is closed to generate the final financial statements.
