5. Illustrate in appropriate diagram (change in demand or change in supply) the impact on the good or service of the following events: ( A. Nominal income of consumers rise and potatoes are considered inferior goods B. Buyers of gold expect that the price of gold will decrease in the near future Producers of gold expect that the price of gold will rise in the near future C. D. Longer and more occurrences of strong typhoons affected the country's major agriculture crops E. Population increases affecting the market for automobiles

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Q: 1

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Financial Statements

Financial statements (or financial reports) are the formal records of the financial activities that are undertaken by a firm. They are convenient instruments used for analyzing a company’s financial position and performance. Financial ratios are created with the help of the numerical values that are derived from the financial statements. They give meaningful information about the financial performance of the company.