Answer:
The correct answer is letter "D": normal goods.
Explanation:
Normal Good is any good or service that sees its increase in demand as a result of an increase in income. Normal goods are defined as having an income elasticity coefficient of demand (<em>percentage change in quantity demanded by the percentage change in price</em>) which is lower than one (1) but is still a positive number.
<em>Consumer staples such as food, drugs, beverages, </em>and <em>basic household products</em> are considered normal goods.
Answer:
The Decision makers predicted accurately the general price level increase.
Explanation: CPI(consumer price index) is a macroeconomic measure that is used in some countries like the United States of America to measure the general changes in the average price level of a basket of Consumer goods and services rendered within an economy during a period under review.
WHEN DECISION MAKERS MAKE CERTAIN FUTURE FORCAST OR PREDICTION AND IT TURNS OUT TO BE TRUE WITHIN THE RANGE PREDICTED, IT MEANS THAT THEIR PREDICTION OR FORCAST WAS ACCURATE.
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When a shortage exists in a competitive market, the price provides incentives for Buyers to decrease the quantity of a good or service purchased to the market.
More about shortage:
In terms of economics, a shortage occurs when there is a discrepancy between the amount supplied and the quantity sought at the going rate.
Three factors primarily contribute to shortages: rising demand, falling supply, and government action. The term "scarcity" ought not to be confused with "shortage" as it is used in economics.
Command economies experience higher shortages. Here, the government refuses to let the forces of supply and demand determine the price of a good or service on the open market.
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"Assumed name filing or a fictitious name filing" is the filing made with a state in which the business operates disclosing the trade name or assumed name of the business along with the owners of the business