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irinina [24]
3 years ago
9

Discuss the impact the hard-lockdown had on perfect markets​

Business
1 answer:
erma4kov [3.2K]3 years ago
4 0

Answer:

As supply chains and production processes are significantly interrupted, the outbreak has been identified as a pandemic by the World Health Organization.

Explanation:

Due to the severe lockdown, supplies and work in the perfect market were lacking. It led to further operations which reduced the workload of the respective firm, thus affecting productivity.

Because of the reduction in productivity, differences occur in the perfect market, where others benefit from the situation in the disadvantaged company. But demand and supply generally decreased in the perfect market.

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Goods with many close substitutes tend to have a. more elastic demands. b. less elastic demands. c. price elasticities of demand
kotykmax [81]

Answer:

The correct answer is a. more elastic demands.

Explanation:

There are some goods whose demand is very price sensitive, small variations in their price cause large variations in the quantity demanded. It is said of them that they have elastic demand. The goods that, on the contrary, are not sensitive to price are those of inelastic or rigid demand. In these large variations in prices can occur without consumers varying the quantities they demand. The intermediate case is called unit elasticity.

The elasticity of demand is measured by calculating the percentage by which the quantity demanded of a good varies when its price varies by one percent. If the result of the operation is greater than one, the demand for that good is elastic; If the result is between zero and one, its demand is inelastic.

The factors that influence the demand for a good to be more or less elastic are:

1) Type of needs that satisfies the good. If the good is of first necessity the demand is inelastic, it is acquired whatever the price; On the other hand, if the good is luxurious, the demand will be elastic since if the price increases a little, many consumers will be able to do without it.

2) Existence of substitute goods. If there are good substitutes, the demand for good will be very elastic. For example, a small increase in the price of olive oil can cause a large number of housewives to decide to use sunflower.

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The characteristic that a new accounting standard should not favor one group of companies over others or achieve a particular so
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Neutrality is the characteristic that a new accounting standard should not favor one group of companies over others or achieve a particular social outcome. Because management wants to see the company grow, financial statements created by the corporation are by definition slightly skewed. This implies that they are more likely to indicate improved performance while omitting to disclose negative incidents.

Management must produce entirely objective financial accounts in order to be neutral. For instance, a business that has knowledge of a potential lawsuit must record it in its financial statement notes. The financial statements would become unreliable in the eyes of creditors and outside investors if this information were withheld.

#SPJ4

7 0
1 year ago
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