Answer:
a. When price of leather belts rose, the leather belt sellers increase their quantity supplied of leather belts.
Explanation:
Law of supply: The increase in price of goods increases the quantity supplied of the same good, keeping all other factors constant.
This means if the price of good increases, the producers tend to produce more of such goods. Thus, the quantity supplied in the market for such good also increases.
Here,
The price of leather belt increased which convinced the producers of leather belts to increase the level of production. This increased the quantity supplied of leather belts in the market.
Answer:
Planning. Planning means defining performance goals for the organization and determining what actions and resources are needed to achieve the goals. Through planning, management defines what the future of the organization should be and how to get there. Strategic plans are long-term and affect the entire organization.
Answer and Explanation:
a) the advantage if using Nitrogen is that pure nitrogen does not leak out of tires as fast as oxygen do. Molecules of Nitrogen are much larger that those of Oxygen so nitrogen filled tires will remain inflates longer than air filled tires.
b) it is consistent with the ideal gas law (PV= nRT). Volume is inversely proportional to pressure and directly proportional to the temperature which mean that every 10 degree change in temperature will result in 1 psi change in tire-inflation pressure.
c) Yes there is another chemical reason. Air contains moisture which can build up within and corrode the wheels and tire pressure monitoring system resulting in tire rot from within but Nitrogen gas is much drier and allows a more steady pressure inside the tire.
d) No I will not pay extra for nitrogen filled tires because there's no huge difference between nitrogen and air filled tires. Nitrogen contains only about 93-95% nitrogen and the rest air ,while ordinary air-filled tire contains 78% nitrogen and the rest air. Besides nitrogen gas do not protect nor repairs faulty tires, you still have to check your tires from time to time and ordinary air is much cheaper than nitrogen and in some regions free. So I think its just a marketing strategy and do not have much use.
Answer:
E. culture.
Explanation:
Culture can be defined as a set of practices, beliefs, values, and customs that are shared by a group of people, and that enjoy legitimacy.
The travel book insight guide specifically tries to inform the traveller about those cultural aspects, probably in order to manage the traveller's cultural expectations so that they do not suffer too much of a culture shock.
The price elasticity of demand is calculated by dividing the percentage change in quantity by percentage change in price.
Percentage change in quantity is given, but the percentage change in price is not given so we first need to calculate percentage change in price.
Percentage change in price = 2.5/ 3.60 -1
= -30.55%
Price elasticity of demand = % change in quantity/ % change in price
= 7%/ -30.55%
= -0.23
The most approximate answer is option B.
