Answer:
The correct answer is c. is based on simplifying assumptions, but is still useful for illustrating scarcity, opportunity cost, and economic growth.
Explanation:
The production possibilities frontier (FPP) is a graphic representation of the maximum quantities of production that an economy can obtain in a given period using all the resources it has available.
In an economy that has thousands of products, the alternatives to produce one good or another and how much of each are very large. When an alternative is chosen, it means that other possibilities are being renounced. The relationship between what we choose and what we give up is the opportunity cost.
<span>Absorbing markov chains are used in marketing to model the probability that a customer who is contacted by telephone will eventually buy a product. consider a prospective customer who has never been called about purchasing a product.</span>
Answer:
(1) introduction
Explanation:
Pioneering advertising creates consumers awareness about the availability of a totally new product as well as explaining its use.
C. expected profit margins
the mission statement provides information about the company as to who, why and how they plan to operate
Answer:
d) no change; a decrease
Explanation:
The Real GDP (gross domestic product) is a macroeconomic term which is the measurement of the value of services and goods produced by economy in a certain or specific time period compared to normal GDP. The influencer elements of Real GDP are very miscellaneous due to long run and short run periods. Then, the determinants which impact on the long run growth of an economy are:
1) Growth of productivity that means the ratio of economic outputs to inputs
2)Demographic changed that means the change of quantity or quality of employment, age structure and etc.
3)Labor Force participation which means that which amount participation there is in labor activities.
As seen above, the consumer and business confidence will not have any positive or negative effect on the real GDP.
Inflation is one of the most important macroeconomic indicator that intends the rate how the purchase power of the money is falling by the rising on the price levels of goods and services. In long run, the most influencing element for inflation is the rate of money supply but if we consider business and consumer confidence are the positive things for the developing of GDP, then they will have a little bit decrease effect on inflation.
