Answer:
ELASTIC
DECREASING PRICE
Explanation:
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.
The demand for your parking lot spaces is elastic. if the price of parking is reduced, the demand for parking would rise
Answer:
The correct answer is the opportunity cost of producing a good.
Explanation:
The production possibility curve or frontier shows all the different bundles of two goods that can be produced using the given resources.
The opportunity cost of a good is the amount of other good sacrificed to produce this one.
The slope of production possibility curve represents the opportunity cost of producing a good.
A master plan is devised for C) long-range goals
Credit cards allow you to buy goods and services with credit and if you go over the credit limit you’ll be charged an overdraft fee but with debit cards you can connect the money you earn from your job to the card and spin the money on the card but when the money is gone you have to wait till next paycheck to spend more but they will not be an overdraft fee also credit cards can affect your ability to be approved for loans and pay house mortgages if your credit score is bad meaning you don’t have a good history of paying your bills on time it will make it hard for you to apply for car loans in house mortgages
Answer: Normal good
Explanation:
A normal good is a good that has a positive correlation between its income and demand. This means that for a normal good, an increase in income will lead to an increase in the demand for the good while a reduction in income will also lead to a reduction in the demand for the good.
Cassandra bought 16 clothes when her income was $40000 but when her income reduced to $35000, she bought less of the good. That means that the cotton blouses bought by Cassandra are normal good.
