Answer:
The income effect and substitution effect work in opposite directions and income effect is dominant.
Explanation:
In case of a normal good, both the income effect as well as substitution effect work in the same direction. A fall in the price of a product will increase the purchasing power of the consumer so its quantity demanded will increase.
The consumers will also prefer the cheaper good so the substitution effect will cause the quantity demanded to increase.
In case of an inferior good, however, income elasticity is negative. The income effect and substitution effect work in opposite directions.
A price decrease in the case of an inferior good will increase the real income and purchasing power of the consumer. This will cause the quantity demanded of the inferior good to decline as the consumer will prefer a substitute normal good.
Answer:
Option D. It prepares employees for different positions and jobs that do not exist yet.
Explanation:
The reason is that employee development plan is to equip the existing employee with the skills that will result in increase in the employability and promotion. This will also result in increased motivation, efficiency gaining, better employee decision making, increased employability, promotions, etc. This is more in cards for employees than the employers. Thatswhy it is termed employee development programs.
Answer:
T
Explanation:
<em>When preparing for a test, the most important first step is to determine what the test is all about. Thereafter, individuals can then design the mode of preparation that suits them in order to be successful in the test.</em>
Mode of preparation varies from individual to individual because intellectual ability also varies. While some absorb information quickly, others might require a considerable time before they can come to terms with information.
<u>The best answer from the choices is T, which means true.</u>
Answer:
The correct answer is to be similar in terms of the behavior of consumption.
Explanation:
Market segmentation is the term which is defined as the classification of the prospective groups of consumer as per the needs as well as requirements and their tendency for generating the similar or alike response to a specific action of marketing.
It is the strategy which is useful in the business which might segment or divide the homogeneous consumer market to a proportion of sizeable and into a more defined segments or groups.
So, in order to acknowledge the market segment, the group members need to be similar in terms of the behavior of consumption.
Answer:
Dr. Cr.
Percy Corporation $1,215
Sales $1,215
Cost of Goods Sold $870
Finished Goods $870
Explanation:
Process costing traces the cost of item on every stage of production. These cost included the direct and indirect costs. At the end all the accumulated costs define the value of Finished Goods.
Journal Entry for sales on credit makes a account receivable and it transfers the cost from finished goods to cost of goods sold as the inventory of finished goods has been sold.
