Answer:
The price elasticity of demand for icecream is -0.75, that means that is inelastic.
Explanation:
Price elasticity of demand measures the porcentage of the change in the demand when there is a change in the price. If the change in porcentage of the demand is less than the pocentage of change in the price we talk about inelastic demand. An increase in the price of inelastic goods will result in bigger revenues, as the porcentage in the drop of sales is less than the porcentage of increase in the price.
The formula is: % in change demand/% in change of price
-3%/4= -0.75
The minus symbol indicates that when the price rises the demand decrease.
Answer:
Indirect taxes
Explanation:
Indirect taxes are the taxes levied on transactions as opposed to direct taxes that are imposed on incomes. An indirect tax is added to the prices of goods and services and collected by the seller or retailer. The retailer acts as the tax intermediary and submits the taxes collected to the government.
Examples of Indirect taxes include excise duty tax, value-added tax, and sales tax. Gas attracts sales tax and road maintenance tax. These taxes increase the price of gas, making them indirect taxes.
Answer:
The short-run aggregate supply curve slopes upward because of all of the following reasons except a. in the short run, as prices of final goods and services increase, some firms are very slow to adjust their prices, thus their sales increase. b. in the short run, an unexpected change in the price of an important resource can change the cost to firms.
Hope this helps :)
Answer:
The answer is: Interpersonal skills
Explanation:
Interpersonal skills, also known as the soft skills, refers to the behavior of an individual while interacting or communicating with others. Interpersonal skills can also be described as the ability of an employee to work with others.
Interpersonal skills include effective communication, active listening, deportment, attitude and dispute resolving.
<u>Therefore, the given example illustrates </u><u>Interpersonal skills.</u>
Answer:
They are:
1) Intensive growth
2) Integrative growth
3) Diversification growth
Explanation:
1. Intensive growth:
This involves identifying further growth opportunities that are available within existing businesses. It identifies new customer groups for growth within current businesses, develop additional distribution channels or selling in new markets such as those in other countries. If this is insufficient the company may look into Integrative growth.
2. Integrative growth:
The second involves involves backward, forward, or horizontal integration. Horizontal integration involves buying smaller competitors.
Backward integration reaches into value chain to get suppliers. Forward involves buying distribution channels in the value chain closest to the customer. Integrative growth identifies opportunities to acquire businesses that are in relation to current businesses.
3. Diversification:
Diversification growth is to identify opportunities so as to add attractive unrelated businesses