I would say the goal of a healthy economy is to have zero unemployment because that would mean that all able bodied men and women were gainfully employed which would enable them to contribute to the economy by producing wealth plus also consuming goods for their social reproduction with the resulting two-fold benefit to the economy.
If the price of steak rises, a consumer who had been maximizing his or her utility before will buy less steak because its "marginal utility to price ratio is now lower than for other items."
<h3>What is
marginal utility?</h3>
In economics, marginal utility is the optimum quality or benefit (utility) which a buyer receives by purchasing an additional units of a product or service.
Some key features regrading the marginal utility are-
- The concept means that the utility and benefit of an extra unit of a product to a consumer is proportional to the quantity of units of such a product he currently owns.
- The given example shows marginal usefulness.
- The marginal value of one piece of bread provided to a family of seven will be considerable, because the family will be less hungry, as well as the difference between 7 and 8 is proportionally significant.
- A extra bread slice supplied to a family with 30 slices, on the other hand, has less marginal utility so because difference among 30 & 31 is proportionally lower and the family's hunger has already been satisfied.
- Thus, as a consumer of a product purchases further and more of the commodity, his marginal utility drops until he has no need for any extra units at all.
- The marginal utility then is equal to zero.
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Answer:
The answer is: B) User
Explanation:
In this specific case the students can be both only final users of your products (books) or they can also be the buyers/users of the books. They are obviously going to be the product’s end-users. They will need to read and study the books for their university classes.
That doesn´t necessarily mean that they are going to buy the books. They definitely are not going to decide whether those books are appropriate and useful for the university´s courses or not. When I went to college sometimes our professor told us to buy certain books and other times textbooks were given to us.
Answer:
The correct option is d. purchasing
Explanation:
Value chain Model : The value chain model is that model which is used to add the values to the organization.
It comprises of two activities:
1. Primary activities : The primary activities are those activities which includes day to day activities or that activities through which the product can delivered to the final consumer.
It includes inbound logistics, outbound logistics, operations, marketing & sales, and services.
2. Support activities : The activities which support primary activities is called support activities. It includes firm infrastructure, human resource management, technology management, and procurement.
By giving above explanation, the purchasing is not a primary activity of the value chain model
Hence, the correct option is d. purchasing
