Answer:
C
Explanation:
The correct option is C :price to increase and the profits of firms in the market to decrease
This can be explained by the fact that, since it always been mandatory to possess a license in order to work in a particular market. This certainly reduces the competition in the market and thus, the prices would increase; therefore, as the firms have to pay for licence thus would reduce the profits of firm.
Answer:
The correct answer is 7%.
Explanation:
The real GDP of an economy is said to be increasing at an annual rate of 5%.
The inflation rate is kept low at 2%.
The velocity of money is assumed to be constant.
In this situation, the annual money growth rate will be equal to the sum of the inflation rate and rate of growth of real GDP.
Annual money growth rate
= Inflation rate + Real GDP growth rate
= 2% + 5%
= 7%
Answer:
The correct answer is letter "B": Supply chain management.
Explanation:
Supply chain management is meant to streamline the processes involved in the supply chain process. The supply chain is a complex network of activities and services that involve moving raw materials, parts, and finished products from initial manufacturers to end-users.
The price elasticity of supply is a measure used in economics to show the responsiveness, or elasticity, of the quantity supplied of a good or service to a change in its price.