Answer:
The answer is: D) The quotation is incorrect: A decrease in price causes a decrease in quantity supplied, not a decrease in supply.
Explanation:
A decrease in the price of a product or service will always decrease the quantity supplied and increase the quantity demanded of the product. The terms supply and demand apply to the entire curve, not an specific point in them.
For example, the equilibrium point for milk is 5 million gallons sold at $3 each. If the government suddenly decides that it will place a price ceiling for milk at $2 per gallon (may use argument that it is a necessity good essential for the well being of children) the quantity demanded for milk will rise but the quantity supplied will fall.
That is because not every dairy business will be able to produce and sell milk at $2 and still make a profit (or meet their expected profit levels), so they will either lower their milk production (make substitute products) or go out of business.
Answer:
Explanation: The Accounting Equation (Assets= liabilities +Equity) shows the relationship between a company's assets, Liabilities and owners equity which at the end of the day balance out.
Assets reflect the total value of the property that the business has, and which is in its turnover.
Liabilities reflect the size of the financing of an organization’s assets by third parties, banks, and private financial institutions.
Owner's Equity is characterized the value of investments made in this organization by its owner/s (shareholders). It can be said to be Capital plus retained earnings.
The accounting equation can be said to be Assets = liabilities+capital+revenue-expenses -dividend.
this is simply put that assets are totality of a company's liabilities, capital, revenue, expenses and dividend.
Answer:
1. threats to the company
2. is product
3.true
4. sending out press release
Answer:
Inelastic demand, Amputation procedure
Explanation:
The good with no close substitute is likely to experience inelastic demand because the consumer does not any close substitute to change to, this means that even when price is increased, the consumer is not likely to stop buying if the good is a necessary good.
The Amputation procedure will have least elastic demand because the diabetes sufferer does not have close substitute to change to when price increase while Diamond necklace is a luxury good, when the price is increased the consumer stop buying or switch to other luxury goods such as gold, silver that are equally used for decoration purposes.
