When both parties are expecting to gain from a transaction, they are conducting a Voluntary trade. In a Voluntary trade, both the sell and buyers involved in the transaction based on their own free will and expecting to gain a profit from the trade
Because accrued expenses represent a company's obligation to make future cash payments, they are shown on a company's balance sheet as current liabilities.
Price of bread increases. if peanut-butter is a complement, we would expect to see caramel's quantity demand decrease.
The amount of bread demanded will decline as bread prices rise. The cost of bread will rise in tandem with the rise in demand. Keep in mind that peanut butter and jelly go well together.
Even though the price of jelly remained the same, we are eating less jelly because we are eating less peanut butter. Jelly's popularity declines (jelly demand curve shifts inward).
For peanut butter, the income elasticity is -3. According to this, peanut butter is a subpar product. Any good with a negative income elasticity is subpar because you consume less of it as income levels rise. The amount supplied will eventually reach zero.
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Answer:
Tires bought by a driver for her personal use- final good
Memory card bought by a photographer-intermediate good
Lenses bought by a camera manufacturer- intermediate good
Tires bought by a car manufacturer-intermediate good
Explanation:
Since tires are for personal use and not used to produce any other good it will be classified as a final good.
A memory card bought by a photographer will be used in creating new pictures, so it will be categorized as an intermediate good.
Similarly, lenses bought by a camera manufacturer will be used for making cameras and tires bought by a car manufacturer will be used for making cars. So both will be classified as a final good.