Answer:
The correct answer is: Snob effect.
Explanation:
The Snob effect is a phenomenon that tries to explain why the demand for a good or service increases in the high-income sector while it decreases substantially in the low-income sector. This scenario is created when people need access to rare or exclusive goods or services.
the linear stages of growth model, theories and patterns of structural change, the international dependency revolution, and the neoclassical theories. The term economic development is a term that economists, politicians, and others have used frequently.
Answer:
The flexible-budget amount is $120,000
Explanation:
The flexible-budget amount is the same lump sum as the static budget.
Therefore, The flexible-budget amount is $120,000.
Answer:
The answer is producers need to know what consumers want so they can sell more and make more profit.
