Answer:
The person will ask William to check his checking account and then William would have to lower the check amount he had previously wrote.
Explanation:
If you write a check or make a purchase for more than you have in your checking account, your bank may cover the difference. This line of credit offered by the bank is called overdraft protection. ... Furthermore, if your account remains overdrawn, your bank may also charge you daily interest on the loan.
Answer:
Ten pounds of chicken to trade for at least <u>40</u> pounds of vegetables but not more than<u> 50</u> pounds of vegetables
Explanation:
Vegetables Chicken Trade Off Ratio
John 40 10 4:1 (40/10) or 1:0.25 (10/40)
George 25 5 5:1 (25/5) or 1:0.20 (5/25)
John has comparative advantage in Chicken and George has comparative advantage in Veggies because :
- John's chicken opportunity cost, in veggies < George (4<5). George's veggies opportunity cost, in chicken < John (0.20<0.25).
- George is more (5X) productive in veggies than chicken, than John (4X). John is less unproductive in chicken than veggies (1/4th), compared to George (1/5th).
So, John will sell Chicken to George & George will sell veggies to John. Gains from trade are when each get trade ratio better than their their own trade off ratio.
- It implies: John gets >' 4 pounds veggies per chicken pound' and George gets > '0.20 pound chicken per veggie pound'.
- Unitary method:- '1chicken : 4veggies' = '10chickens : 40veggies' and '0.20chicken : 1veggie' = '10chickens : 50 veggies' .
Answer:
Inelastic
Explanation:
Price Elasticity of demand is the a measure which is used to show the responsiveness of the quantity to its price.
Price Elasticity of demand = Change in quantity / Change in price
% Change in quantity = ( 45,000 - 35,000 ) / 45,000 = 22.22%
% Change in price = ( 20 - 30 ) / 20 = -50%
Price Elasticity of demand = Change in quantity / Change in price
Price Elasticity of demand = 22.22% / -50% = -0.4444
As the answer is less than 1 so, demand is Inelastic.
Answer:
1) identify your problem: Try to describe the problem as much as possible, as opposed to focusing on the potential consequences or implications of the problem.
2) Pin point the problem
3) so that means you should do research based on the problem ^
4)Try evaluating the problem.. perhaps looking at it in perspective ^
5)see how the problem could affect you or others
6) Then work out a plan to solve the problem