All categories

2 years ago

Define “supply” for commodity

2 answers:

8 0

The amount of a commodity that sellers or producers are able and willing to provide for sale at a specific price for a specific length of time is referred to as the supply of that commodity.

To put it another way, we may say that supply is a relative concept. It is always used in the context of a relationship between price and time. A statement of supply that makes no mention of price or time makes little sense from an economic standpoint. Consider the following: "The supply of milk is 1,000 litres." In economic analysis, this statement has no relevance whatsoever.

I hope this helps you
:)

Andrews [41]2 years ago

6 0

Answer:

The supply of a commodity is the amount of the commodity which the sellers or producers are able and willing to offer for sale at a particular price, during a certain period of time.

Note: Hope it helped

You might be interested in

A $200,000 loan amortized over 13 years at an interest rate of 10% per year requires payments of $21,215.85 to completely remove

kvasek [131]

Answer:

Loan amount = $184,193.95

Explanation:

Interest will remain same each year. Interest per year = 200,000*10% = $20,000

Installment $21,215.85

Less: Interest <u>$20,000</u>

Payment to Principal <u>$1,215.85</u>

Total principal repaid in 13 years = $1,215.85 * 13 years = $15,806.05

So, the principal left = $200,000 - $15,806.05 = $184,193.95

3 0

3 years ago

An undergraduate business student has purchased a laptop computer for use during exams. This laptop is perfectly reliable except

g100num [7]

Answer:

probability of a reliable performance = 19/20

Explanation:

If a new battery has just been installed, then the chances of failure are only contributed by the faulty microchip, which has a failure rate of 1 in 20 hours.

Therefore in 1 hour, the probability that the laptop will perform reliably is calculated as follows:

Chances of failure = 1 in 20

20 hours = 1 chance of failure

∴ 1 hour = 1/20 chance of failure

1/20 = 0.05 chance of failure

Now, let us express 0.05 as fraction:

0.05 = 5/100

Therefore in 1 hour, there is a 5 in 100 chances of failure.

But we are asked to find the probability that the laptop will perform reliably. This is simply done by finding the difference between the total chances of occurrence (100) and the chances of failure (5)

∴ Probability of reliable performance in one hour = (100 - 5) / 100

= 95/100

95/100 = 19/20

8 0

3 years ago

Explain the technique of making bamboo based handicrafts with an example.

Gala2k [10]

Answer:

Bamboo can be processed into thin strips or sheet materials for bamboo plaiting , commonly known as bamboo strips. The processing procedures of bamboo strips include selecting materials , sawing bamboo, pruning, scraping, dividing, splitting, setting the width, thinning and chamfering.

Explanation:

Example: •Bamboo furniture

•Bamboo toys

•Bamboo wind chimes

•Bamboo lamps and lanterns

•Bamboo placements and coasters

6 0

3 years ago

A second mover: a.is typically ineffective in its response to a first mover. b.attempts to provide a product with greater custom

Viktor [21]

Answer:

b. attempts to provide a product with greater customer value than the first mover.

Explanation:

In marketing, it is believed that the first mover gains an edge over the followers. A first mover is the initial entrant and provider of products and services catering to a marketing segment.

A second mover refers to the immediate next of the first mover. The advantage second mover has over the first mover being, it can analyze the response the first mover generated and effectively gauge what went right and what went wrong for the first mover.

This way, the second mover can provide improved products than the first mover by not committing same errors as the first mover.

5 0

4 years ago

Catherine bought 355 shares of Trochel Office Supplies at $31. 29 per share. Several months later, the price went up and she sol

goblinko [34]

The correct answer would be 17707.40

5 0

2 years ago