Answer:
TRUE
Explanation:
Supply is sellers ability and willingness to sell a good at given price, time period.
Price of Inputs is a factor negatively effecting Supply. This implies decrease in supply at high input prices (because of lower profit margin), increase in supply at low input prices (because of higher profit margin).
Increase in Supply means rightwards shift in upward sloping supply curve, Decrease in Supply means leftwards shift in upward sloping supply curve.
Steel is an input used in car manufacturing; so increase in steel price will decrease car supply & shift the supply curve leftwards. This will create excess demand/ deficient supply/ shortage of cars in the market at old equilibrium price.
This shortage will then create competition among buyers & increase price, which will contract demand & expand supply - establishing new equilibrium.
Answer: Market allocates goods effectively.
Explanation: Effective market allocation is the economic market interaction discussed in this case study. As there was a storm and the power lines got down it was obvious that the demand for the batteries and flashlights will increase and the stock became insufficient but the market forces came into action leading to increase in supply and restoring demand and supply to equilibrium level .
Answer:
The statement is: True.
Explanation:
Teams tend to have more effective results when they select a leader, recorder, and evaluator. Those characters will play an important role to control and measure the team's performance that will lead them to achieve their objectives. The <em>leader </em>should guide the team whenever the members gather, the <em>recorder </em>registers the most relevant information of every meeting, and the <em>evaluator </em>measures the advance of the project with the help of the leader.
To start their own business, usually this supports their local economy however still depending on their success.