Answer:
Necessity Goods : Income Inelastic (< 1)
Luxury Goods : Income Elasticity ( > 1)
Explanation:
Elasticity is responsiveness of demand change to price change . Formula : - % change in demand / % change income
Normal goods have positive income elasticity, i.e. demand increase with income rise & decrease with income rise .
Necessity good's demand responds less to income change & is income inelastic ( < 1 ), % change in demand < % change in price .
Eg : Medicines
Luxury good's demand is more responsive to income change & is income elastic ( > 1) , % change in demand > % change in price .
Eg : Luxury Cars
The qualities of socialism that appealed to working class people is the fcat that there are no classes in the society.
<h3>What is socialism?</h3>
This is the type of economic policy that advocates that the means of production is owned by everyone that is in a state.
Everything is jointly owned so the sharing formula is likely to be the same.
Read more on socialism here: brainly.com/question/839803
Answer:
Martin luther had proposed his 95 thesis to the catholic church. Which ended up getting him excommunicated by the pope. The 95 Thesis explained the true meanings of what the bible truly said, proving the pope to be a liar,cheat and wrong. The pope was telling the people that the way to getting into heaven was by paying the church, and paying money would clear them from their sins. Martin Luther began his 95 thesis conserning these rules. He began to change them into the correct wording. Meaning instead of lying to the people like the pope, Martin wrote the true words of God. One wrote "As long as you have faith in the lord, you are able to enter into the holly lands".
Explanation:
We invite all those who care for Europe’s past, present and future to sign, support and widely share the Berlin Call to Action “Cultural Heritage for the Future of Europe”.
The Berlin Call builds on the momentum created by the European Year of Cultural Heritage 2018 and seeks to engage as many organisations, institutions, governments, civil society actors and individuals in recognising the positive and cohesive power of Europe’s shared cultural heritage.
