The factors that can impact the elasticity of demand are:
necessity versus luxury
availability of substitutes
<h3>What is the elasticity of demand?</h3>
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
The more close substitutes a good has, the more elastic its demand. This is because if price is increased, consumers can easily shift to the consumption of an alternative product.
Goods that are deemed as necessities usually have an inelastic demand. While goods that are deemed a luxury usually have elastic demand.
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Trade will benefit countries when it generates gold and silver for the national treasury.
Answer:
B!
Explanation:
Healthcare depends on the job and benefits one receives. Often employers leave insurance to the employees own discretion and responsibility.
The answer to this question is:
<span>All of the following are intangible assets except??
</span><span>D-"Accounts Receivable."
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Answer:
Correct answer is False for economic decision making, when the inputs and outputs are fixed, the criterion to use is minimize the input
Since, both input and output are fixed, the input can’t be decreased. Each of them has to be fixed in directive to vary the association among them. (It can be fixed contribution, or fixed production or neither one of them is fixed)