Quantity demanded varies inversely with price, other things constant*

Business

1 answer:

stepan [7]2 years ago

6 0

Answer:

c. law of demand

Explanation:

In Economics, there are primarily two (2) factors which affect the availability and the price at which goods and services are sold or provided, these are demand and supply.

Demand can be defined as the total amount of goods or services that consumers are willing and able to purchase at a given price.

Law of demand states that quantity of goods or services demanded varies inversely with their price, other things constant or being equal. Thus, the smaller the quantity of goods or services demanded, the higher the price and vice-versa.

<em>According to the law of demand, there exist a negative (inverse) relationship between the quantity of goods demanded and the price of a good i.e when the prices of goods and services in the market increases or rises: there would be a significant decline or fall in the demand for this goods and services.</em>

This ultimately implies that, an increase in the price level of a product usually results in a decrease in the quality of real output demanded along the aggregate demand curve.

Additionally, the law of demand states that, the higher the demand for goods and services, the higher the price it would be sold all things being equal.

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Trey has two dependents, his daughters, ages 14 and 17, at year-end (2018). Trey files a joint return with his wife.What amount

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Answer:

(a) His AGI is $103,300.

$2,000 since only one of your daughters qualifies for the child tax credit (must be under 17 at year end).

(b) His AGI is $426,200.

$2,000 - (27 x $50) = $2,000 - $1,350 = $650

For 2018, the income threshold to qualify for the child tax credit increased to $400,000, and it starts to fade away up to $440,000. It phases out $50 per each $1,000 of additional AGI.

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2 years ago

Should imports to the United States be curtailed by, say 20 percent to eliminate our trade deficit? What might happen if this we

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In a world that is synchronized on a global scale, trade between nations is constant. Imports cannot be reduced by 20% in order to close the trade deficit.

<h3>Why it is not possible to reduce imports?</h3>

There are certain nations that will be impacted if the United States decides to cut imports by 20%.

As a result, imports from the United States will likewise be restricted in other nations.

In other words, the United States may experience a fall in exports while attempting to reduce imports. The overall impact on trade imbalances could be minimal.

The trade conflict between the United States and China is a good illustration. China responded to the United States taxes on its imports by imposing its own levies. As a result, both countries suffered.

As a result, there is no quick fix for decreasing trade deficits. A more delicate balance between consumption and production must be achieved over time.

The manufacturing industries must have favorable policies and incentives to encourage consumer demand for locally made items.

Check out the link below to learn more about trade deficit;

brainly.com/question/28708620

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A bill in the House of Representatives may only be introduced by a(n) __________. employee of a federal agency lobbyist for a sp

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A bill in <span>the House of Representatives may only be introduced by a representative.
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