The graph suggestion about green tea is that Green tea is inelastic in terms of supply and The supply of green tea does not change sharply with the price.
- In economics, when a commodity is inelastic, The supply or demand is not that moved (sharply or sensitive) to changes in the price of that commodity (price of green tea)
Conclusively, we can therefore say that the graph suggestion about green tea is that Green tea is inelastic in terms of supply and The supply of green tea does not change sharply with the price.
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A statement or item which is not included in a net worth statement is: B. $50 per month for a gym membership.
<h3>What is a
net worth statement?</h3>
A net worth statement is also referred to as a balance sheet and it can be defined as a type of financial tool that is designed and developed to show an individual's or business firm's financial position at a specific period of time.
This ultimately implies that, a net worth statement typically provides information about the financial position (dollar value) of what an individual or business firm own (assets) and what they owe such as liabilities or debts.
In Economics, the net worth of an individual or business firm can be calculated by using this formula:
Net Worth = Assets – Liabilities.
In conclusion, we can infer and logically deduce that "$50 per month for a gym membership" is a statement or item which is not included in a net worth statement.
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Complete Question:
Which of the following is not included in a net worth statement?
A.$300 in a checking account.
B. $50 per month for a gym membership
C. Balances on credit cards total $15,000.
D.$400 per month for school loans; the current balance is $25,000.
