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2 years ago

Supply and demand I don’t know which is which

Business

2 answers:

bogdanovich [222]2 years ago

7 0

To understand the market mechanism, one needs to have a good knowledge of demand and supply, as these two forces regulate the entire market. Demand implies the desire for a good, supported by the ability and readiness to pay for it. On the other hand, supply alludes to the total amount of a commodity ready for sale.

When demand rises there is a shortage in the supply and when a supply is enough the demand falls short, so there is an inverse relationship between these two elements.

Nowadays people are very selective regarding the things they use, carry and wear. They are very conscious about what to purchase and what not to? A little change in the prices or the availability of a commodity affects people drastically.

The demand and supply model is helpful in simplifying how the price and quantity traded are ascertained in the market as well as how the outside forces affect the demand and supply of the commodity. Go through with this write-up to get a clear understanding of the difference between demand and supply.

Akimi4 [234]2 years ago

7 0

Answer:

im confused

Explanation:

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Abbott Company uses the allowance method of accounting for uncollectible accounts. Abbott estimates that 4% of credit sales will

OverLord2011 [107]

Answer:

$3760

Explanation:

Calculation to determine the December 31 balance in Bad Debt Expense

Using this formula

Bad debt expense = Credit sales × Uncollectible percentage

Let plug in the formula

Bad debt expense= $94,000 × 4%

Bad debt expense= $94,000 × 0.04

Bad debt expense= $3760

Therefore the December 31 balance in Bad Debt Expense will be $3760

8 0

2 years ago

Which of the following materials could be potentially infected with bloodborne pathogens, assuming they are not mixed with human

Katena32 [7]

Answer:

Semen or vaginal secretions

Explanation:

"Bloodborne pathogens" refer to microorganisms that can be found in the blood or body fluids of humans. There are many kinds of bloodborne diseases such as Hepatitis B and Hepatitis C as well as Human Immunodeficiency Virus (HIV). They can be transmitted to another person through having contact with the infected human blood or body fluids.

Assuming that the materials above are not mixed with human blood (meaning, they are not contaminated with blood), then the semen or vaginal secretions are the only materials where the bloodborne pathogens can be transmitted. Thus, it is important not to have sexual contact with the contaminated person such as people with HIV.

So, this explains the answer.

4 0

3 years ago

With only two goods, if the income effect is in the same direction as the substitution effect then the good is ____.

Leya [2.2K]

Answer:

Normal good

Explanation:

Income effect Is change in quantity demanded when the consumers purchasing power change as a result of a change in real income.

Substitution effect is when quantity demanded falls as a result of rise in price of a good which leads consumers to purchase cheaper alternatives.

A normal good is a good whose demand increases as income increases.

If the price of a normal good falls, the real purchasing power of the consumer increases and the consumer buys more of the good. Also, the consumer substituites from more expensive alternative goods to the more cheap normal good. The income and substitution effect both move in the same direction.

7 0

3 years ago

Select all the reasons to keep your money in a financial institution.

mr_godi [17]

All of them :) All those reasons.

5 0

2 years ago

Read 2 more answers

Assume that labor is a variable input. the average wage of workers increases in a purely competitive industry. this change will

Korolek [52]

Assume that labor is a variable input. The average wage of workers increases in a purely competitive industry. This change will result in an increase in marginal cost for firms in the industry and a decrease in the industry supply curve.

Businesses may decide to request a wide variety of inputs. The most prevalent two are labor and capital in perfect competitive industry.

Marginal labor output in terms of revenue. The firm decides how much labor to demand by examining the marginal revenue product of labor after it is aware of the level of demand for its production. The additional revenue the business makes by hiring one more unit of labor is known as the marginal revenue product of labor (or any input). The marginal product of labor has an association with the marginal revenue product of work. The value of the marginal product of labor in a market with perfect competition is the firm's marginal revenue product of labor.

To learn more about perfectly competitive market click here:

brainly.com/question/28081306

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6 0

1 year ago