Pet care salons, skin clinics, and day care centers are all examples of businesses operating in the <u>service industry</u>.
Service industry is an industry in the part of the economy that creates services rather than tangible objects. These service industry provides a service but does not produce anything.
The industries based on service are an important part of society for a variety of reasons, including- delivering essential services to the public. Pet care salons, skin clinics, and day care centers are all examples of businesses operating in the service industry. These services too generate income.
Hence, service industry play an important role in society.
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Answer and explanation:
Location is one of the many factors businesses must consider at the moment of starting operations. Commercial areas tend to have higher rent and property prices. Typically, businessmen deal with it by increasing their products price so they can cover expenditures and make a profit. At the same time, most consumers are willing to pay the higher price for the product because it removes the need for relocation even if it could imply moving one or two blocks away.
<span>C.
Fixed Costs. Fixed costs are incurred regardless of the number of units of a
product are produced or sold on a given period. Fixed costs are expenses
incurred and remain unchanged within a relevant period. These costs are fixed
in relation to the quantity of production for a certain period.</span>
Answer:
the quantity supplied is to a change in price.
Explanation:
Elasticity of supply measures the degree of responsiveness of quantity supplied to changes in price
Elasticity of supply = percentage change in quantity supplied/ percentage change in price
Supply is elastic if a small change in price has a greater effect on the quantity supplied.
Supply is inelastic if a small change in price has little or no effect on quantity supplied.
Supply is unit elastic if a small change in price has a proportional equal effect on quantity supplied.
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