Answer:
Consumers will consume less of the good whose relative price has risen and more of the good whose relative price has fallen.
Explanation:
The substitution effect refers to the change in the consumption of a good, due to the variation in its price, for the consumption of another good that becomes relatively cheaper. Thus, in the substitution effect if prices increase, consumers will consume a smaller amount of a given good, since its price has risen and a larger amount of the good whose relative price has become cheaper.
Monique is a(n) Importer.
What is an Import?
Any good or commodity brought into one country from another. Customs authorities must be involved in both the import and export countries.
Import trade means goods and services purchased in one country from another. Because products are frequently transported by ship to foreign countries, the term "import" derives from the word "port." Imports, like exports, are the backbone of international trade.
In this case, if the cost of a country's imports exceeds the value of its exports, the country has a negative balance of trade (BOT), also known as a trade deficit.
Objectives of Import Trade:
- To speed up industrialisation
- To meet domestic demand
- To overcome natural disasters
- To improve standard of living
- To ensure national defense
Know more about trade here:
brainly.com/question/17717899
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Here is the correct answer of the given question above. When a communist country decides to give its people more economic freedom in an attempt to improve its failing economy, the outcome that is most likely to be worried about in this case is that, PEOPLE WILL WANT MORE POLITICAL FREEDOM.
Answer:
factor market
Explanation
Lemme know if I'm wrong :/
Answer:
providing intangible goods and services
Explanation:
A service business is an organisation that provides services.
Examples of service businesses are airlines, insurance companies, and hospitals.
I hope my answer helps you
