The forces underlying supply and demand interact to determine the market price.
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The persons involving in the activities of trading comprises the market system. It includes sellers, buyers and others involved in trading process. They also includes the buyers, consumers, producers who are the major players of the market system who determines the economic activity in it.
The supply and demand law is the major determinant of the production of goods and services in a market economy. The natural resources, land, capital and labor are the supplies. The purchasing power of the government, consumers and business are the demands. The forces underlying supply and demand interact to determine the market price.
Answer:
C
Explanation:
Im pretty sure its C. Everyone has to sign a lease when renting something
Answer:
B. Purchasing inventory on account
Explanation:
The Purchase of inventory on account is not recorded when the cash basis of accounting is recorded but where as it is recorded when accrual basis of accounting is used.
Answer:
C. Evoked Set
Explanation:
Evoked set simply describes a set of brand that comes to a buyer's mind when a thinks of buying a product. They are brands that customers are aware of and when they consider buying a product, they think of those they are aware of. A good example is the one asked in the question, when a customer thinks about buying a computer, the brands that he's aware of and think about would most likely be Dell, Apple and Hp. In marketing, achieving evoked set is the wish of every marketer of a particular brand. This is because, these categories of goods are the ones that are most likely to be purchased. Lots of companies spends a lot in advertising to make it to customers evoked set because of the presumed benefits that comes with it.
