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Law Incorporation [45]
3 years ago
6

What does it mean if a product has a high level of elasticity?

History
1 answer:
GenaCL600 [577]3 years ago
5 0

Answer:

How Elasticity Works. When the value of elasticity is greater than 1.0, it suggests that the demand for the good or service is affected by the price. A value that is less than 1.0 suggests that the demand is insensitive to price, or inelastic.

Explanation:

You might be interested in
25t = 1,125.<br><br><br> What is the value of t?
belka [17]

Answer:

45 is the value of t

Explanation:

The question is asking 25 multiplied by what equals 1,125, which you can find out by doing 1,125 divide by 25 which is 45

6 0
2 years ago
Which bill of rights was a precursor to the American bill of rights
Digiron [165]

Answer:

precursors include English documents such as the Magna Carta, the Petition of Right, the English Bill of Rights, and the Massachusetts Body of Liberties

Hope it helps

7 0
4 years ago
Read 2 more answers
The following quote is from British economist John Maynard Keynes after World War I:
drek231 [11]

Answer:

Dawes Plan

Explanation:

5 0
3 years ago
Cities such as Genoa and Venice have a long
Hunter-Best [27]

Answer: Merchants originated in the Middle Ages.

Explanation:

Traditionally, Genoese and Venetians were good merchants. Trade has developed in this area since the 9th century. Geographical location, the wealth of areas were some of the factors that influenced the development of trade. During the Middle Ages, the Venetian Republic (Venice) was the largest naval power in the Mediterranean. It is a country whose seat was Venice and spread to Croatia, Montenegro, Slovenia, Greece, and Italy(only to parts of these countries, not the whole territory).

Trade activities were at their peak. They traded with everyone and even with the Ottomans, who were the traditional enemies of these cities/states. Countries traded in luxury goods. They achieved great wealth during the Crusades, transported the European army, and thus earned huge money. The contingent of their army also took part in those campaigns, so they gained enormous wealth.

3 0
3 years ago
When compared to most other developed countries, the United States:
Firdavs [7]

The Unites States has a higher gross domestic product when compared to other developed countries

Gross domestic product is an economic indicator that represents the value of all goods and services produced by a country during a given period (usually one year) used to measure the wealth that a country generates.

For example, in 2019, the GDP of the United States was about 21.4 trillion dollars, while the GDP of other developed countries such as China was about 14.3 trillion dollars, and Japan had a GDP of about 5 trillion dollars. From the above, it can be United States has a higher gross domestic product.

On the other hand, United States does not have the highest standard of living because countries such as finland have a higher standard of living, still United States has a relative unemployment rate and its economy is based in the gold standard.

Learn more in: brainly.com/question/3776291?referrer=searchResults

3 0
3 years ago
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