D)
Market equilibrium occurs when supply = demand
Answer and Explanation:
a. As it is given that the income elasticity of wheat is between zero and one that reflects inelastic and less than unity condition.
So in this, when the income is increased the demand for wheat is also increased but it would be less proportionally
And, the percentage increase in demand for wheat is lower than the increase in income
b. The quantity of wheat purchased is increased as there is an increase in income which increased the demand for all goods
c. The percentage of their budget will go decline as the income elasticity is between zero and one that results into an increase in income and they can switch more expenditure for other goods
d. The farmer condition does not affect overall as if the income increased the demand for other goods is also increased but it is more than the wheat
Answer:
interest and interest
Explanation:
they are both a percentage and the earnings of the interest that are in your bank are much lower than when you borrow money, usually 0.6 percent that you earn. Rather when you borrow depending on the loan it can go up to 20 percent interest.
Answer:
D) Even with an absolute advantage, the United States would have benefited from importing those products for which Britain had a comparative advantage.
Explanation:
The basis for foreign trade are comparative advantages, not absolute advantages. You must remember that in order for trade to be effective and long lasting, both sides must benefit from it, not just one side.
Resources are limited, and that applies to everyone, to every corporation and to every country. You might have an absolute advantage at producing everything, but your production possibilities frontier sets you a limit on what products or combination of products you can produce. Sometimes it might be beneficial to trade and receive some products that you could produce more efficiently, but their opportunity costs might be too high. Probably you can get them at lower costs from foreign suppliers and use those resources for producing something else.
Answer: Option E
Explanation: In simple words, sales promotion refers to the process under which an organisation tries to persuade customer to buy its product by using several marketing and advertising strategies.
Direct marketing refers to the process in which a company performs its marketing strategy without the help of any middleman.
Therefore, we can conclude that option E is correct as the company is sending an email direct from its office so it is direct marketing and the objective of mail is to promote sales which depicts sales promotion.