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1. the object of sale and
2. on the purchase
Briefly explain what each of these two requirements entails
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- 1. Show the market for potatoes on a graph and show what will happen if there is a drought in Idaho (where a lot of potatoes are grown) b. On another graph, show what will happen in the market for potatoes if there is a drought in China (where, I presume, a lot of rice is grown).9, what is primarily concerned with markets for goods, services and resources1. These are factors affecting the supply to increase and decrease, except one. A. Technology C. Producers Tastes B. Producer Preferences D. Consumer preferences 2. These are factors affecting the demand to increase and decrease, EXCEPT one. A. Raw materials C. Consumer Tastes B. Producer Preferences D. Price of related goods
- Question 2 1. What is the consumer's income? 2. what is the price of good 2? Full explain this question and text typing work only thanksQuestion. If the price of hot dog is $2 and the price of a hamburger is $4, then the A. Relative price of a hot dog is 1/2 of a hamburger per hot dog. B. Money price of hot dog is 2 hamburger per hot dog. C. Relative price of a hamburger is 1/2 of a hot dog per hamburger. D. Money price of a hamburger is 2 hot dongs per hamburger.7._______ Refers To an upper limit on the amount of a commodity that can be purchased by an individual unit?
- 5. Discuss the concept of Economic Goods.?26. What is a basket of goods? Explain how it is selected.Choose the Letter of the Correct Answer 1. It refers to a basic economic question that asks what needs and wants to be produced?. A. How much to produce? B. What to produce? C. How to produce? D. For whom to produce? 2. It refers to the skills and talents to produce a product. A. How much to produce? B. What to produce? C. How to produce? D. For whom to produce? 3. It refers to the target market of a certain product. A. How much to produce? B. What to produce? C. How to produce? D. For whom to produce? 4. A basic economic question that relates about quality and quantity of the product. A. How much to produce? B. What to produce? C. How to produce? D. For whom to produce? 5. It is a kind of economic system that is paternal, kinship in nature. A. Traditional economic system B. Market economic system C. Command economic system D. Mixed economic system
- What refers to the quantity of goods and services that consumers are willing to buy at a given price? refers to the quantity of goods and services that consumers are willing to buy at a given price.Choose the letter of the correct/best answer. ____1. It summarizes the transactions between the consumer and producer. A. Circular Flow C. Interactions B. Illustrations D. Figures ____2. It shows that when price increases, quantity decreases. A. Law of Supply C. Law of Demand B. Law of the concept of Supply D. Law of the concept of Demand ____3. It shows that when price increases, quantity increases also. A. Law of Supply C. Law of Demand B. Law of the concept of Supply D. Law of the concept of Demand ____4. The relationship between price and quantity in the law of demand is _____. A. Positive C. Indirect B. Direct D. Negative ___5. The relationship between price and quantity in the law of supply is _____. A. Indirect C. Negative B. Direct…Briefly outline and explain some of factors that depend on line amount of a commodity a consumer os prepared to buy
