<u>Question 1</u>
The correct answer is: "FALSE".
The total revenue earned by a firm is computed using the formula:
R= price * quantity
According to the formula, if the term "price" increases, R would increase too. But an increase in price usually decreases the amount demanded by consumers of a certain product. Therefore, if quantity demanded drops in a higher proportion than the increase in price, the final total revenue would decrease. So the final effect depends on the size of the two variations.
<u>Question 2</u>
<u>The determinants of demand are the following:</u>
- Price: inversely related to the quantity demanded, as the larger the price the smaller the amount demanded of a product.
- Income of consumers: directly related. The larger the income earned by an economic agent, the larger the amount demanded of a normal good (there are exceptions, such as inferior goods, for which income and demand are inversely related).
- Prices of related goods of services. If two goods are substitutes, the increase on the price of one, decreases the amount demanded of that product but increases the amount demanded of the other product. It two goods are complements, the increase in the price of one good decreases the amount demanded of it, and the amount demanded of the other product too.
- Tastes or preferences of consumers. If a product is in line with the general preferences of consumers the amount demanded will be large.
- Market expectations. For example, if a price is expected to rise, consumers might prefer to buy now and therefore demand increases at the moment.
The internet allows users to share opinions and recommendations in the type of forum is "Consumption Communities."
<h3>What is Consumption Communities?</h3>
A consumption community is a group of consumers who are interested in the same consumption activity and/or ideology.
The community can be organized by the consumers themself, by a company or a brand, or by a third party with an interest.
Some key features regarding the Consumption Communities are-
- Previous research on consumption communities, on the other hand, suggests that managing those is difficult, if not inconceivable, because societies are self-directed and comprise equal, autonomous actors.
- The idea of consumption community, initially proposed by historian Daniel Boorstin, asserts that in today's high-mobility society, people look not only to their neighborhood for feelings of community, but also to the communality of their consumption behavior (like; drinking same brand of beer).
- The concept was tested across borders by administering a newly developed psychological sense of community (PSC) scale to adults in Belgium and the United States. The findings back up the Boorstin hypothesis.
To know more about the Consumers, here
brainly.com/question/3227054
#SPJ4
Answer:
D) power struggles among the major European countries
Explanation:
Answer:
True
Explanation:
Modernism period from 1880 to 1920, emerged as the dominant form aiding in human progress. It was a scientific rationality and the growth of human conscience above the set norms of society. It believed in the pursuit of knowledge through scientific endeavors as well as one's rational thoughts.
Modernism is the departure from historical tradition which conformed to the idea of truth being rigid. In Modernism, one finds a philosophy or worldview that believes in fluidity and newness associated society and to various art forms.
As Ezra Pound said: "Make it New"
Answer:
non-stop is the longest one out of all of them. hope that helps!
