Putting the demand and supply schedules together can help you to see what price and quantities will be demanded and supplied in the marketplace through giving you a clear picture of the data. By looking at both, you can already compare how much of the supply and demand of the good and see a clear picture of the relationship between the two and how they affect each other with respect to each other.
Answer: The correct answer is "A disproportionate number of high-risk individuals are attracted to buy insurance.".
Explanation: A disproportionate number of high-risk individuals are attracted to buy insurance is a problem that arises in a health insurance market. Due to the greater risk, many insurers choose not to allow these individuals to hire these policies, and those that do offer these products do so with a higher premium than others.
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Answer:
It is convenient for Jenna to buy her computer when the price is more elastic and the Offer of the good is large, because the greater the supply of a good, the lower the price and with the elastic demand. It means that the price varies in proportion to the the demand and supply of the good would have the price of convenience that the computer should buy.
The order of Jenna's computer is as follows:
* Jenna's work computer broke down and she needs a new one or else she can't work.
It is inelastic in this regard because Jenna needs the computer immediately and will not expect a variation in market prices.
* Jenna uses her computer recreationally and wants to be able to listen to music with her friends in two days when they visit her.
The purchase of the computer can wait two days, since although you need it to spend time with your friends, it is not extremely necessary.
* Jenna's computer works fine, but she wants to buy a newer model.
The purchase of the computer can wait therefore the demand becomes more elastic
Answer:
True
Explanation:
Market offerings can be defined as a company's complete offer to its customers and target market, including the product it sells, delivery, technical support, etc.
Market myopia happens when the company has an inward looking approach, the company wants to sell what they produce, not what consumers' need and want. This will eventually lead to business failure since the company will not be able to adapt to market changes, e.g. Nokia insisted on manufacturing regular cellphones instead of smartphones because it was the world leader in the manufacturing of regular cellphones.
