An economist would conclude that when goods are not rationed by monetary price or lottery, other rationing mechanisms like waiting arises.
Here, many people were willing to wait for more than two hours to see the rare flower. The visiting was arranged in such a way that first come, first see. The rareness of the flower made no option but to wait in line to see it.
In an economist's perspective, he will compare the flower to the goods. There is rationing for food through monetary and lottery mechanisms. But if there were no mechanisms like this, then waiting will be the only way to consume goods. Here, because the flower was rare, it cannot be rationed by price. But we are still able to ration goods by price. If someday, there will be lack of goods, then the only rationing mechanism we could opt will be waiting in lines.
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Answer:
The statement is: True.
Explanation:
<em>Helpful team members</em> are those who take advantage of their expertise to help the team achieve its goals faster or at least at the expected time. More than troublemakers they are problem solvers. Helpful team members act proactively, tend do be charismatic and enthusiastic, and motivate others to continue working towards a common goal.
Answer:
She shares that Communication is healthy and that you can achieve confidence by faking till you make it.
Explanation:
- Ms. Cuddy provided ideas on what we can do to influence our minds through her research on non verbal expressions.
- In her TED talk, she described the benefits of power posing that she and fellow scientists researched upon . Cuddy gave a beautiful speech that later went viral and resonated with the global audience.
- In her study she found that high level of testosterone and low level of cortisol help boost confidence and make one feel powerful. And, high levels of cortisol induces stress and anxiety.
- And, these levels of hormones can be changed by power posing.
Answer:
1. A monopolistically competitive firm may be able to distinguish itself from other firms by adjusting the physical attributes of its product, by offering a distinctive level of service, or by selecting a convenient location.- True
2.Product differentiation enables a monopolistically competitive firm to have some control over the price of its product- True
3.In the long run each monopolistically competitive firm produces a level of output that results in allocative efficiency.- False
4. In the long run each monopolistically competitive firm produces a level of output that results in productive efficiency- False
5.To maintain a competitive edge and earn economic profits, a monopolistically competitive firm has an incentive to improve its product. -True
6. Compared with purely competitive markets, under monoplistic competition consumers with a diversity of tastes can benefit from the opportunity to choose from a greater range of products and services. -True
7.In order to maximize its profits, each monopolistically competitive firm must determine the price of its product, how to differentiate its product, and how much it will spend on advertising.True
Explanation:
Answer:
(E). Marketing channel
Explanation:
<u>Marketing channel</u> or distribution channel consists of <u>people, firms, processes and activities through which goods are transferred from the manufacturers to the final consumers.</u>
An individual who owns several shoes must have gotten them through various marketing channels.
