Answer:
Netflix
Explanation:
Netflix is a company that uses streaming service where viewers can watch varieties of documentaries, popular films etc on their network . This type of service enables users to access latest films, TV shows, offered by Netflix over the internet. Although users get to watch and enjoy these services through a paid subscription, there are quite unlimited films that can be watched and downloaded for offline viewing.
Unlike a conventional method where people can watch and download films, documentaries online, Netflix provides a platform that warehouses collections of films, documentaries, TV shows hence revamp the business methods of renting movies.
Answer:
D
Explanation:
This will help her develop journalism skills at a younger age
Answer:
C. the market demand curve understates the relative importance of the product and resources are therefore underallocated to its production.
Explanation:
Positive external benefits refer to third party positive side effects, above & beyond private marginal benefit to the concerned consumer.
Eg : Education - Its consumption not only affects the concerned person, but the positive trickle down to the people & society around.
Personal consumption decisions are based on : equalisation - of private marginal benefit (demand) curve & private marginal cost curve. However, goods having positive external benefits have real marginal benefit curve increased over private benefit curve, by the extent of extra marginal social benefit.
So, market demand (based on private marginal benefit) curve understates the importance of product, and resources are therefore underallocated to its production (due to undervaluation of demand).
Answer:
An increase in quantity will automatically lead to a reduction in price.
An increase in price will lead to an increase in quantity supplied.
Explanation:
Option “2” and “4” are correct because the increase in quantity supplied shifts the supply curve rightwards and resulting in the price falls. While the positive relationship between price and the quantity supplied leads to an increase in supply when price increases. When price increases then the producer finds more profitable to supply more quantity. Thus, in order to curb more profit, the producer supplies more quantity when price increases.
Answer:
He will sell 600 pizzas per week if he cuts the price by 10%.
Explanation:
Price Elasticity of demand measure the responsiveness of demand to change in the price of a product. It calculates the ratio of change in demand and change in price.
Price elasticity of demand = % change in demand / % change in price
-2 = % change in demand / 10%
% Change in in demand = -2 x 10%
% Change in in demand = -20%
Following the law of demand as price decreases the demand of the product increases. So the sale of Pizzas will be increased by 20%.
Current Sale of Pizzas = 500 pizzas
Increase in sales = 500 x 20% = 100 pizzas
Increased sale = 500 + 100 = 600 pizzas
