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4. Explain each key ingredients.
(ii) There should be willingness to buy the product.
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Solved in 2 steps
- 7, Question 7 options: The human wants for goods, services and resources exceed what is available, is known asChoose 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 system6 Is examining the intersection of budget lines and indifference curves a valid means of assessing consumer behavior? Why or why not? How does your analysis of this topic apply to making business decisions? Something new
- True/False 1. it is necessary assumption and economics that consumers prefer higher quantities a good to lower quantities of that good for all goods1. _______ Refers To an upper limit on the amount of a commodity that can be purchased by an individual unit?# 4 can you explain what the correct answer is and why?
- 10. What is the willingness and ability of producers to offer a good for sale referred to as? A) Private enterprise B) Supply C) Free market economy D) Law of supply 11. A key to business success is to decide in advance how to respond to the issues that underlie all questions of ethics and A) personnel complaints B) compensatory damages. C) governmental support D) social responsibility1.(a) Suppose a consumer derives satisfaction from consuming hamburgers and hot dogs.How will the budget line change when the consumer is offered a "buy two, get one free" deal for hotdogs (limit one free hot dog). Please show the changed budget line on the graph given below. (b) Please explain how “Buy one get one free” is different from a half price (50% off) sale. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.1.Which characteristics a person making handicrafts should acquire to develop marketable products? 2.Why should you apply finishing materals on products? 3.What should you do to achieve a beautiful and attractive product
