Answer:
Gasoline expenses will increase in the short term
Explanation:
Price elasticity of demand is a measure of demand sensitivity in the face of price changes. When elasticity is less than 1, we say that demand is inelastic (little sensitive to price changes). In contrast, when elasticity is greater than 1, we say that demand is elastic (price sensitive).
In this case, gasoline has an inelastic demand in the short term. Thus, price increases can occur without decreasing the quantity demanded. As oil has risen, international costs will be passed on to gasoline. Thus, gasoline expenses will be higher, as the price will be higher and the quantity demanded will be maintained.
Both excess supply and excess demand are a result of disequilibrium.
Engaging in elections is the only way that a democracy can survive which makes the above statement factual.
<h3>How do elections aid democracy?</h3>
Democracy is based on the basic notion that the citizens of a nation should get a say in how their country is run by deciding their own leaders.
The only way citizens can be able to decide who will lead them, is by holding elections. Without elections therefore, there can be no democracy because the people would be unable to decide who would lead them.
Find out more on democracy at brainly.com/question/3710021.
Answer:
Knowledge.
Explanation:
The term knowledge is best defined as information or experience that we believe to be true and for which we have justification.
This ultimately implies that, knowledge is any information or experience that an individual possesses and it can be proven beyond reasonable doubt that, it is factual, true and justified.
Basically, knowledge is typically considered to either be practical understanding of a topic (implicit) or a theoretical understanding of a topic (explicit).
According to Plato who was a famous philosopher, he said knowledge is a justified true belief.
