Answer:
1. all else is held equal
2. quantity supplied
Explanation:
Given economics terminologies and definitions, it can be concluded that any given demand or supply curve is based on the ceteris paribus assumption that ALL ELSE IS HELD EQUAL
Also, it can be easily concluded that when economists talk about supply, they are referring to a relationship between the price received for each unit sold and the QUANTITY SUPPLIED.
Answer:
Option B is your answer ☺️☺️☺️
Based on the discount offered by Next furniture, the discounted price of a sofa would be $669.33
<h3>What is the discounted price of the sofa?</h3>
This can be found as:
= Original price x (1 - discount rate)
Solving gives:
= 999 x (1 - 33%)
= 999 x 0.67
= $669.33
Find out more on discount rates at brainly.com/question/1385340.
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Surplus. Is this a multiple choice?
Answer:
The statements that are correct about money are
(1) With the use of money, double coincidence of wants is not necessary in an exchange.
(2) With the use of money, the cost of looking for trading partners can be lowered.
Option: (A)
Explanation:
The concept of using money having a predefined value emerged from the idea of how convenient it would be to have a common commodity of exchange that could be used in exchange for anything and everything offered for sale. After the barter system eventually came to an end, the process of determining monetary values of commodities of day to day use began and inveterated gradually. As the prevalence of the use of common money grew, the necessity of double coincidence of wants ended soon. People who wanted to exchange wheat for maize no longer had to wait to come across someone who wanted to exchange maize for wheat.
With the introduction of money and an increase in its use, the time and efforts required to find a partner to trade with decreased dramatically. This made transactions more convenient and affordable and more people began to involve themselves in trading activities. The use of money not only dispensed ease of doing business but also helped in establishing faith and reliability among trading partners.
