China is considered to have a Chinese culture
Answer:
the answer is option B) Consumption of durable goods is affected by changes in interest rates and, as a result, impacts aggregate demand?
Explanation:
When interest rates increase, people tend to hold off purchases on durable goods and when it reduces, the make bulk purchases. Interest rates, therefore, affect the cost of most durable purchases.
Moreover, because durable goods are long-lived, consumers may time purchases to take advantage of low interest rates.
Examples of durable goods includes automobile, medical equipment, sports equipment, etc.
It is through this sensitivity to interest rates that durable goods purchases may affect cyclical fluctuations in real GDP.
Answer:
<u>Time</u>
Explanation:
There is a trade off between time spent in travelling and engaging into some other activity.
In Economics, Opportunity cost refers to the next best alternative. It represents the foregone benefits of an activity sacrificed in return for another activity.
In the given case, Jane is willing to pay extra online than travel all the way and get the blanket at a much cheaper rate. By doing so, Jane has saved time as well as energy which would've been spent in 50 miles drive.
Consumer decision making process involves the whole process between a consumer identifying his need and ultimately making the purchase.
The given case corresponds to the influence of available time or the time constraint which affects consumer decision making process.
Answer:
d. An increase in the supply of the good.
Explanation:
Under normal circumstances, when production of certain goods that used to be manual is now automated or there is enhancement of technology then, supply for such good will definitely increase.
It means that there will be faster rate of production due to the technological improvement unlike when production is being done with obsolete equipment or done manually.
When there is enhancement of technology use to produce certain goods, it will bring about decrease in cost of production for producers and an increase in supply of such goods.
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