Demand is said to be<u> Elastic</u> when the quantity demanded is very responsive to changes in price.
<h3>What is Elasticity of Demand?</h3>
Demand responsiveness to changes in other market variables is measured by demand elasticity. The price elasticity of demand, for instance, indicates how much demand will change in response to a change in a product's price.
Both elastic and inelastic demand exists. Demand that is elastic is more responsive to changes in the variables being measured against. Products that are inelastic are less sensitive to the changes being measured.
The slope of the demand curve and price elasticity of demand is directly correlated. The law of demand, which states that consumers will demand a greater quantity of goods at lower prices and a lesser quantity of goods at higher prices, was most likely covered in your very first economics course. The downward sloping of demand curves is explained by the law of demand.
Thus the Law of demand directs the elasticity of demand.
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Options:A) tomato sauce was too bold and competed with Italian products.
B) people did not like to eat at home.
C) Italians perceived its products to be "too American."
D) Italians wanted more toppings on thick crust.
E) Italians did not like anyone else to use the name pizza.
Answer:
C. Italians perceived its products to be "too American."
Explanation:
Cultural influence is a term used to describe the response of a set of persons to a product or group of products. Cultural influence has great impact in the success of certain products or brands in the world.
It is known that the perception of Domino pizza by Italians caused its pull out of the Italian market,Italians believe that the pizza produced by the American company Domino pizza is "too American".
Answer:
The metrics and dimensions I should include in a custom report to deermine the day and time when users are most likely to complete a purchse after I sent them an email promotion providing a discount to users with a birthday in the month of September. are:
Day of Week, Hour, eCommerce Convertion rate, sessions.
Explanation:
The reasons behind these answers are two: The first one is that I need to write a record of the people to follow my call in the e-mail. So that record should include day of week, as well as hour to study their behavior. Also, the e-commerce conversion rate to analyze the effectiveness of the e-mail promotion and the sessions to find out how much people entered at the same time.
Answer:
Trade credit
Explanation:
Trade credit occurs between traders where a trader allows another to purchase goods without paying for them immediately.
It is the cheapest form of short term financing.
This is a form of business to business agreement where payment is set at a later date of 30 days, 90 days or 60 days.
The transaction is recorded by using invoice.
Usually it is a zero percent short term finance. The amount of the good at time of purchase is what is paid at the sure date.
There is no extra payment made by the buyer as interest on the amount agreed.
Answer:
Purpose of business is to increase general well being of people by selling goods and services.
Explanation:
The main purpose of business is to increase well being of people, make profits for its stakeholders and offering value for money to its customers or clients through products and or services. The products and services provided by the company should not harm its customers and clients instead these products and services should provide benefits to its users and satisfy their needs. While making profits a company should keep scarce resources in mind so the needs of the future generation is not compromised also it does not harm the environment by its poisonous wastage. Every business requires some form of investment as an input though which quality output can be provided to its customers and clients.