Answer:
.D.complementary products
Explanation:
A complementary good is a product whose usage is dependent on the availability of another. Complementary goods are, therefore, goods that are used together. For example, A and B will be complimentary goods if the use of A will require the use of B.
Yachts and docks are complementary products because a yacht will require a dock as the base of its operation. Without a dock, yacht operations will be almost impossible. Bill is not making good sales on big yachts because potential customers cannot find sufficient docking space. Other examples of complementary goods are car and petrol, printers and ink cartridges, guns and bullets, and DVD players and DVD disks.
Answer:
(a) Work/leisure choice
(b) Marketing strategy
Explanation:
Microeconomic issues relate to those that are within the scope and power of individuals, households and firms which means that problems here will relate to decisions that these participants make in relation to resource allocation.
Choices relating to leisure or work have to do with the individual and the resources they would need or derive from either work or leisure and so are a microeconomic problem.
The marketing strategy that a firm should pursue is related to an individual firm and so is a microeconomic problem as well.
Answer:
Inelastic
Explanation:
In the given question,the cost to produce the toothpaste has increased, which led to the increase in the price of the toothpaste significantly. But there is no change in the demand of the toothpaste.
Hence, this product is inelastic.
In the inelastic demand, the demand of the product does not change with any variation in the price of the product.
Supply.
Economic supply is the total amount of a good that is available to consumers- supply goes up and down based on price and other independent economic variables.
