A) Opportunity cost
because an opportunity cost is for example you have to pick from a xbox one or a ps4. You saw that the ps4 was more scarce for you but you had to give up the xbox one to obtain the ps4. Nothing is free in life!!! You sacrificed the xbox one for the ps4
Answer:
PED= 0.1571
Explanation:
The price elasticity of demand (PED) indicates how the quantity demanded change when the price changes. Is defined by this equation:
Price Elasticity of Demand = Percentage change in Q/ Percentage change in P
In this case, the problem is giving percentage changes in Q but we must calculate the percentage change in price:
%Change in price = ( p2-p1/p1)*100= ($4.09-$2.96)/$2.96= 0.3817*100=38.17%
%Change in quantity is= -6%
PED= -6%/38.17%
In absolute value:
PED= 0.1571
If the PED is less than 1 then gasoline is considered as inelastic.
Answer:
Did the technology push the changes in the world, or was it the other way around? What evidence is opinion based upon or how did you draw your conclusions?
In my opinion the world started to change during the 1970s when Steve Jobs introduced the personal computer. Before him, only huge corporations could afford computers since they were huge and costed millions. Since then, information technology (IT) has increased in gigantic steps and when the internet was available for public use, the world as we know it changed.
When the world was struggling again during the great recession, my hero came back and changed the way IT industry again with the iPhone and the whole app culture. I am a little over 25, and I can tell that everything was very different when I was a small kid. You actually needed to read a newspaper and use encyclopedias (very large books).
Now everything is on the web and now most of us are even working using the internet. In just seconds we know what is happening in China or any other country in the world, while before all we heard about China was that were many Chinese and they were communists. IT has enabled whole new industries that boost the economy much more than any other manufacturing business ever had. The world would be a much different place if it wasn't for the Apple I, the internet or the iPhone.
C. price index
is the correct answer to the questions
Question 1 of 10
A. is a measure of change in the prices of goods from one period to
another
A. sanction
B. quota
оо O
C. price index
D. subsidy
SUBMIT
