Bob's Candy Store provides candy for sweets-loving locals. It employs Susan, who works the day shift, and Terry, who works the night shift. Is Bob's Candy Store a buyer (demander) in the market for factors of production or goods and services? In this market, does the money flow from household's to Bob's Candy store or from Bob's Candy Store to Susan and Terry?
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Bob's Candy Store provides candy for sweets-loving locals. It employs Susan, who works the day shift, and Terry, who works the night shift.
Is Bob's Candy Store a buyer (demander) in the market for factors of production or goods and services? In this market, does the money flow from household's to Bob's Candy store or from Bob's Candy Store to Susan and Terry?
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- Bob's Candy Store provides candy for sweets-loving locals. It employs Susan, who works the day shift, and Terry, who works the night shift. Bob's Candy Store is a buyer (demander) in the market for In this market, money flowsWhat is the difference between demand and derived demand? What examples do you have of goods and services you buy in product markets? What examples do you have of resources your workplace (or another workplace) buys in resource markets?what happen to equilibrium price and quantity in the following situation? in the market for coca-cola, the price of pepsi, as subtitute, increase at the same time wages paid to worker at coca-cola increase. in the market for lectture, the goverment raises the current market price above equilibrium, and it cannot change meaning the price adjust without a shift in either curve.
- Consider the market for gas in the US. Suppose that due to Covid-19 that there is a fall in the price of oil. Oil is used to produce gas. What is the effect on the market for gas?Consider the market for chicken burger. For each of the events listed here, identify which of the determinants of demand or supply are affected. Also indicate whether demand or supply increases or decreases. Then draw a diagram to show the effect on the equilibrium price and equilibrium quantity of chicken burger.d. Price of hotdog fallse. A stock market crash lowers people’s wealth [Consider chicken burger is inferior good for e)]Land in south western Ethiopia can often be used to grow either coffee or khat.suppose the price of coffee increases. Explain how the market for that will be affected.
- Which of the following is the relation that the law of demand defines? a) Income and price of a commodity b) Price and quantity of a commodity c) Income and quantity demanded d) Quantity demanded and quantity supplied"Assume that the price of crisps rises while the equilibrium quantity falls. Explain in each of the following cases whether they are true, false or uncertain and argue with respect to the statement made: a. An increase in the price of onion rings (a substitute for potato crisps) b. A fall in the price of onion rings. c. An increase in the price of potato bread (production-side substitute for potato crisps). d. A fall in the price of potato bread.As the price rises, the quantity demanded by the buyer will decline and the quantity supplied by sellers will increase until it reaches the point when there is no shortage. Therefore, identify and explain the point where there is no shortage happen. Production means the process of using factors of production to produce goods and services. The inputs bought and used in the production of a given product are classified into four factors of productions. Describe the FOUR (4) factors of production with examples Ans all
- How can we apply the supply and demand analysis to a competitive market? What is a real-life example of an increase in the number of consumers in the market or an increase in the number of sellers/buyers in the market (competitive market)?There was a disruption in production and shipment of fertilizer when Russia invaded Ukraine in March 2022. How does the event in the market for fertilizer transition into the market for food. Explain and draw the graphs for both the markets.Consider the market for minivans. Indicate the impact if any on demand, supply, price and quantity: (a) People decide to have more children. (b) A strike by steelworkers raises steel prices. (c) Engineers develop new automated machinery for the production of minivans. (d) The price of station wagons rises. (e) A stock-market crash lowers people’s wealth ac