the following information is available for fenton manufacturing company at june 30: cash in bank account $ 6,955 inventory of postage stamps $ 79 bank account balance $ 12,900 petty cash balance $ 400 nsf checks from customers returned by bank $ 917 accounts payable $ 516 cash in register $ 757 a certificate of deposit maturing in five years $ 8,500 based on this information, fenton manufacturing company should report cash and cash equivalents on june 30 of:
Answers
The cash balance including cash and cash equivalents that must be reported on June 30 by Fenton Manufacturing Company in the register would be $21,012.
Cash in bank account $6,955, bank account balance $12,900, petty cash balance $400, cash in register $757, NSF checks from customers returned by bank $917.
Cash and cash equivalents are those assets that are readily convertible to cash and have a maturity period of fewer than three months.
The following are considered cash and cash equivalents: Cash in the bank account ($6,955), bank balance ($12,900), petty cash balance ($400), and cash in the register ($757). Cash and cash equivalents = $6,955 + $12,900 + $400 + $757= $21,012.
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Related Questions
Supply and Demand can influence a jobs ____?
Answers
Answer:
affecting wages, employment levels and thus equilibrium
Explanation:
what level of market coverage is typically used for products like honest tea beverages?
Answers
The level of market coverage that is been utilized in marketing some products such as honest tea beverages is Intensive distribution
Intensive distribution can be regarded as form of marketing strategy whereby a company tries to sell its product using small vendor and at times big store. It helps in the creation of brand awareness of the product which later result to higher sales. This method is been used fir products such as soft drinks, cigarettes.Therefore, Intensive distribution utilize retailers in distribution of goods
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You are on vacation and did not open your account to see if you were paid on the BBB tranche of a cash waterfall instrument you own. You know that you must have received your full payment if you read in the newspaper that
Answers
If you read in the newspaper that the BBB tranche of the cash waterfall instrument you own has been fully paid out, then you can assume that you have received your full payment. However, it is still important to check your account and confirm that the payment has been received. It is always better to be proactive and ensure that everything is in order, rather than relying solely on external sources of information.
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according to the transaction cost perspective in analyzing vertical integration, every market transaction involves some transaction cost.
Answers
According to the transaction cost perspective, every market transaction involves some transaction cost. These transaction costs refer to the costs associated with conducting business and making transactions in the market. They can include various expenses such as search costs, bargaining costs, monitoring costs, and enforcement costs.
1. Search costs: When engaging in a market transaction, individuals and firms need to spend time and effort searching for the best prices, suppliers, or buyers. For example, if a company wants to purchase raw materials, they need to research and compare prices from different suppliers to find the most cost-effective option.
2. Bargaining costs: Negotiating and reaching agreements in market transactions can involve additional costs. These costs include the time and resources spent on negotiating contracts, resolving disputes, and ensuring that both parties are satisfied with the terms of the transaction.
3. Monitoring costs: In market transactions, there may be a need to monitor and ensure that the agreed-upon terms are being met. This involves keeping track of the quality of goods or services, verifying delivery, and enforcing the terms of the contract. For instance, a company may need to monitor the production process of a supplier to ensure that the agreed-upon quality standards are maintained.
4. Enforcement costs: If one party fails to fulfill its obligations in a market transaction, there may be additional costs associated with enforcing the contract or seeking legal remedies. This can include legal fees, court costs, or the cost of hiring third-party intermediaries to resolve disputes.
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All of these are true for parasympathetic neurons, except a. part of the autonomic nervous system b. usually cause excitation of an organ c. found entirely outside of CNS d. part of peripheral nervous system
Answers
The statement that is not true for parasympathetic neurons is: b. usually cause excitation of an organ. So, the correct option is b.
Parasympathetic neurons are indeed part of the autonomic nervous system (ANS) (option a). They are responsible for regulating the body's involuntary functions and work in conjunction with the sympathetic neurons to maintain homeostasis. The ANS controls various physiological processes such as heart rate, digestion, and glandular secretions.
However, the statement that parasympathetic neurons usually cause excitation of an organ (option b) is incorrect. Parasympathetic neurons generally have an inhibitory effect on organs rather than causing excitation. When parasympathetic neurons are activated, they tend to decrease heart rate, constrict blood vessels, and promote rest and digestion.
Regarding option c, parasympathetic neurons are not found entirely outside the central nervous system (CNS). While the cell bodies of parasympathetic neurons are located outside the CNS, in ganglia close to the target organs, their axons extend from the CNS to these ganglia and then innervate the organs.
Lastly, parasympathetic neurons are indeed part of the peripheral nervous system (PNS) (option d). The PNS consists of nerves and ganglia located outside the CNS, and both parasympathetic and sympathetic neurons are components of the PNS.
In summary, the statement that is not true for parasympathetic neurons is option b, as they usually cause inhibition rather than excitation of an organ.
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deadline for filing income tax returns that have received extensions
Answers
Third quarter 2023 estimated tax payment is due on September 15, 2023. The deadline to submit your 2022 extended tax return is October 16, 2023. This is the deadline for submitting your tax return if you opted to request an extension.
What occurs if taxes are still unpaid after the extension?For each month that you are late, penalties for filing might increase by 5% of the tax owed. The minimum fine is $100 or 100% of the tax owed with the return, whichever is less, if you are more than 60 days late. By requesting the extension by the deadline, the penalty file is destroyed.
What occurs if you submit your taxes late but don't have any outstanding debt?There is no penalty for filing a late return after the tax deadline if a refund is due. If you didn't file and owe tax, file a return as soon as you can and pay as much as possible to reduce penalties and interest.
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A group of friends wants to go to the amusement park. They have no more than $325 to spend on parking and admission. Parking is $13, and tickets cost $39 per person, including tax. Write and solve an inequality which can be used to determine pp, the number of people who can go to the amusement park.
Answers
The number of people who can go to the amusement park is 8.
What is an equation?An equation is a sequence of figures which needs to be solved to calculate the missing figure. In the given question the missing value of the number of friends who can attend the amusement park needs to be determined and that can be done with the help of an equation.
No. of people = (Total amount in hand - Parking fees) / Admission ticket cost
No. of people = ($325 - $13)/ $39
No. of people = 8
The maximum number of people who can visit the amusement park is 8 given that the parking ticket needs to be paid and that will cost $13 and so the remaining $312 can be divided by the admission ticket of the amusement park which is $39. Hence this equation upon solving provides a result of 8, which is the number of friends who can visit the amusement park.
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1) You are studying the market for a particular new smartphone. You notice that several changes are happening in the market at the same time. The company that makes the smartphones has just opened a production plant in Malaysia where the cost of labor is lower than it is in the UK. The company has also switched to using a more cost-effective material for the outer shell of the phone. In addition, a new advertising campaign for the phone has gone viral, and now everybody wants this phone. What do you expect will happen to the equilibrium price and the equilibrium quantity? Explain your answer using a graph. [7.5%] 2) A market is described by these two equations: Q d
=75−5P and Q s
=5P. Using this information, answer the following questions. [7.5%] (i) Calculate the equilibrium price. (ii) Calculate the equilibrium quantity.
Answers
With the changes happening in the market for the new smartphone, we can expect a shift in both the supply and demand curves.
The opening of a production plant in Malaysia will lower the cost of producing the phones, leading to an increase in supply. The switch to a more cost-effective material will also lead to a decrease in production costs, further increasing supply. Meanwhile, the viral advertising campaign will increase consumer demand for the phone.
The effect of these changes on the equilibrium price and quantity will depend on the magnitude of the shifts in supply and demand. If the increase in supply is larger than the increase in demand, we would expect the equilibrium price to decrease and the equilibrium quantity to increase. This is shown in the graph below:
As we can see, the original equilibrium was at point A, where the quantity demanded and supplied were both 50 units, and the price was £5. With the increase in supply and demand, the new equilibrium is at point B, where the quantity demanded has increased to 70 units, the quantity supplied has increased to 80 units, and the price has decreased to £4.
(i) To find the equilibrium price, we can set the quantity demanded equal to the quantity supplied:
Qd = Qs
75 - 5P = 5P
Solving for P, we get:
10P = 75
P = £7.50
Therefore, the equilibrium price is £7.50.
(ii) To find the equilibrium quantity, we can substitute the equilibrium price into either the demand or supply equation:
Qd = 75 - 5(£7.50) = 37.5
Qs = 5(£7.50) = 37.5
Therefore, the equilibrium quantity is 37.5 units.
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Jamie wants to focus on selling her overstocked blue saucepans. She sets up keywords using a broad-match modifier. What are two ways the broad-match modifier makes Jamie's work easier? (Choose two.)
Answers
She doesn't have to think of all the related saucepan keywords. and She can easily select the color she wants to focus on.
Shares are a type of protection that gives stockholders a proportion of possession in an employer. shares also are known as “equities. “An inventory is a well-known time period used to describe the possession certificate of any enterprise. A percentage, on the other hand, refers to the inventory certificates of a specific employer. maintaining a particular enterprise's proportion makes you a shareholder. Description: shares are of sorts—common and desired.
A stock is a sort of investment in an organization. agencies problem inventory shares to raise money that allows you to finance operational desires and to fuel growth, and traders buy the one's stock stocks for the possibility to generate a go back on their funding. A proportion is a monetary instrument that represents the component possession of an organization. An inventory is a financial tool that represents part possession in one or more establishments.
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there is a surplus of a new brand of cereal on the market. what will likely happen to the price of the cereal?
Answers
Answer:
The price of the cereal would fall.
Explanation:
In Economics, there are primarily two (2) factors which affect the availability and the price at which goods and services are sold or provided, these are demand and supply.
The law of demand states that, the higher the demand for goods and services, the higher the price it would be sold all things being equal. On the other hand, law of supply states that the higher the price of goods and services, the lower the supply.
When there is a surplus of a new brand of cereal in the market. What will likely happen to the price of the cereal is that the its price would fall.
here's a easy career question
Answers
The answer is A) adjunct
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1. What is the impact of government created price ceilings on the market place?
Answers
Answer:
They create shortages in the market
Explanation:
A price ceiling refers to the maximum amount that sellers are legally allowed to charge for products are services. The government uses price control to regulate prices when it feels they are rising at a fast rate. The price ceiling is set at a lower level than the equilibrium price as the government tries to tame rising prices.
The price ceiling brings about a shortage in the market. Suppliers will shy away from the market as the reduced price may not meet their cost. Price ceiling reduces supplier profits margins, which discourages supply.
In this type of economy, production is determined by tradition, ritual, or custom.
Answers
Answer:
Traditional economy
Explanation:
A traditional economy is really an initial organization framework under which the products and services produced in an market, as well as the laws and method of the delivery, are influenced by practices, beliefs, and ideologies. Nations that have used the form of economic structure are mostly plantation and agricultural.
Why would you write a complaint to a company?
Answers
Answer:
To discuss with a company about a problem you may be having with their service or product.
Explanation:
what can occur for project activities on a critical path that include slack time? more than one answer may be selected.
Answers
b) 'They can be completed after the project end date' and d) 'They need to be completed before other activities on the critical path' can occur for project activities on a critical path that include slack time.
Activities on the critical path are the ones that directly impact the project's overall duration. Slack time refers to the amount of time an activity can be delayed without causing a delay to the project's completion date. If an activity on the critical path has slack time, it means that it has flexibility in its schedule.
Given the nature of activities on the critical path and their impact on the project timeline, the following scenarios can occur for project activities with slack time:
b) They can be completed after the project end date: Activities with slack time can be delayed without affecting the project's completion date. This flexibility allows for adjusting the schedule to account for unforeseen delays or resource constraints.
d) They need to be completed before other activities on the critical path: While activities on the critical path have slack time, they still need to be completed before subsequent activities can begin. The critical path represents the longest sequence of dependent activities that determines the project's minimum duration. Completing activities on the critical path is crucial to maintain the project's timeline.
Regarding the other options:
a) They can be allocated fewer resources: This statement is not necessarily true. Activities on the critical path usually require sufficient resources to be completed within the planned time. Reducing resources may impact their timely completion and potentially affect the project's overall schedule.
c) They can be deemed a lower quality: Slack time does not necessarily imply lower quality for activities on the critical path. Quality standards should be maintained irrespective of the availability of slack time. The focus is on meeting the project's objectives and timeline while delivering the expected level of quality.
Hence, the correct answers are b) 'They can be completed after the project end date' and d) 'They need to be completed before other activities on the critical path'.
Correct Question :
What can occur for project activities on a critical path that include slack time?
More than one answer may be selected.
a) They can be allocated fewer resources.
b) They can be completed after the project end date.
c) They can be deemed a lower quality.
d) They need to be completed before other activities on the critical path.
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farmco received a $50,000 check from tiffin farms that was due on an account receivable. which journal entry will farmco make?
Answers
The journal entry that FarmCo will make to record the receipt of the $50,000 check from Tiffin Farms on the accounts receivable would be as follows:
Debit: Cash (or Bank) $50,000
Credit: Accounts Receivable $50,000
This journal entry reflects the increase in the cash (or bank) account by $50,000, indicating the receipt of funds, and the corresponding decrease in the accounts receivable account by $50,000, as the amount owed by Tiffin Farms has now been paid.
When FarmCo receives a $50,000 check from Tiffin Farms, it represents the collection of an accounts receivable. Accounts receivable is an asset account that records the amounts owed to FarmCo by its customers for goods or services provided on credit.
To properly record this transaction, FarmCo will make a journal entry that reflects the increase in cash and the reduction in the accounts receivable balance. The entry follows the principles of double-entry accounting, ensuring that the accounting equation remains balanced.
The first part of the journal entry involves debiting the Cash (or Bank) account. This reflects the increase in cash as a result of receiving the $50,000 check. The debit entry is made on the left side of the journal entry.
The second part of the journal entry involves crediting the Accounts Receivable account. This records the reduction in the accounts receivable balance since the payment from Tiffin Farms has been received. The credit entry is made on the right side of the journal entry.
By making this journal entry, FarmCo accurately reflects the financial impact of the transaction on its books. The $50,000 increase in cash is offset by the $50,000 decrease in accounts receivable, ensuring that the accounting equation (Assets = Liabilities + Equity) remains balanced.
It's worth noting that the specific account titles and amounts may vary based on the company's chart of accounts and individual circumstances. However, the fundamental concept remains the same - recording the collection of accounts receivable through a journal entry that reflects the increase in cash and decrease in accounts receivable.
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Question 1 of 10: after analyzing your menu, you find that food sales are $1,200 and beverage sales are $800. Your average gross margin for food and beverage is 67%. Which is more profitable, food or beverage? a) food b) beverage c) they are the same d) can't tell from the data
Answers
The gross profit for food is $804, which is higher than the gross profit for beverages, which is $536. Therefore, the answer is option (A) food is more profitable.
To determine which is more profitable between food and beverages, we need to calculate the gross profit for each category. Gross profit is the difference between revenue and the cost of goods sold (COGS), expressed as a percentage of revenue. The formula for gross profit margin is:
Gross Profit Margin = (Revenue - COGS) / Revenue x 100%
Given that the average gross margin for both food and beverages is 67%, we can assume that the COGS for each category is 33% of the sales price. Therefore, we can calculate the gross profit for food and beverage as follows:
Gross Profit (Food) = $1,200 x 67% = $804
Gross Profit (Beverage) = $800 x 67% = $536
Based on this calculation, we can see that food is more profitable than beverages. It's important to note that this analysis is based solely on the given information, and there may be other factors that affect profitability, such as the cost of labor, overhead costs, and other expenses. However, based on the information provided, we can conclude that food is more profitable than beverages.
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why irs warns millions across us to hold off on filing taxes
Answers
Millions of people in more than 20 states, including California, Colorado, and Florida, who got tax refunds the previous year are being urged by the IRS to postpone filing their taxes.
Briefing:-According to the government, it wants to know if these tax breaks and special refunds are regarded as taxable income.
Can a firm be closed down by the IRS?If you owe taxes and are unable to pay them, the IRS may shut down your company. The IRS has the right to take legal action to enforce a lien. The business might be forced to close its doors and all of its assets might be taken.
What causes a business audit by the IRS?An IRS audit may result from excessive spending or significantly different expenses from one year to the next. Even though you could have a company credit card, you shouldn't make a lot of purchases. For instance, it may be suspicious to claim all of your meals throughout the working day as business costs.
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1. Define business organisation 2. write short notes on the following a. sole proprietorship b. Population - census
Answers
Answer:
A business organization is an entity or firm that is formed to carry out commercial activities
A sole proprietorship is a business organization or entity owned by an individual only.
Population census is the official counting of a particular number of people living in a particular territory, region or country at a particular time for socio-economic, demographic, political purposes.
does bank accounts last forever?
Answers
Answer:no they don’t
Explanation:
they will become dormant after 24 months
If plant assets of a manufacturing company are sold at a gain of $1,000,000 less related taxes of $350,000, and the gain is not considered unusual or infrequent, the income statement for the period would disclose these effects as
A. operating income net of applicable taxes, $750,000.
B. an extraordinary item net of applicable taxes, $750,000.
C. a prior period adjustment net of applicable taxes, $1,000,000.
D. a gain of $1,000,000 and an increase in income tax expense of $350,000.
Answers
Answer:
D. a gain of $1,000,000 and an increase in income tax expense of $350,000.
Explanation:
Given that
The gain is $1,000,000
And, the taxes is $350,000
So here the income statement that disclose the impact is that
There is a gain of $1,000,000 and also at the same time the income tax expense is rise by $350,000
Therefore the option d is correct
hence, the same would be considered
Which of the following is a common heuristic for assembly line balancing?
A) first come, first served
B) least preceding tasks
C) earliest due date first
D) ranked positional weight
E) most preceding tasks
D
Answers
A common heuristic for assembly line balancing is option B) least preceding tasks. This heuristic aims to allocate tasks to workstations on an assembly line based on minimizing the number of tasks preceding each task. The idea is to prioritize assigning tasks to workstations that have fewer tasks already assigned to them.
By using the least preceding tasks heuristic, the goal is to distribute the workload evenly across workstations and minimize the potential bottlenecks or imbalances in the assembly line. This heuristic helps to optimize the efficiency and productivity of the assembly process by ensuring that tasks are allocated in a way that reduces the overall time required to complete the entire production process.
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A common heuristic for assembly line balancing is option B) least preceding tasks. This heuristic aims to allocate tasks to workstations on an assembly line based on minimizing the number of tasks preceding each task. The idea is to prioritize assigning tasks to workstations that have fewer tasks already assigned to them.
By using the least preceding tasks heuristic, the goal is to distribute the workload evenly across workstations and minimize the potential bottlenecks or imbalances in the assembly line. This heuristic helps to optimize the efficiency and productivity of the assembly process by ensuring that tasks are allocated in a way that reduces the overall time required to complete the entire production process.
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How did economics delay scientists’ first attempts for conservation in the forest industry? Think about MONEY involved for conservation.
Answers
Economics delayed scientists’ first attempts for conservation in the forest industry by prioritizing profits over ecological concerns. The forest industry became a highly profitable venture in the late 19th century, and this led to the exploitation of natural resources, particularly trees. The need to extract timber at a faster rate made it difficult for conservationists to carry out their plans.
Economics and conservation are in conflict because environmental protection often requires investment, which may lead to a reduction in profits. Investors and business owners usually prioritize profit-making over other considerations, such as conservation of resources. This was particularly true in the forest industry, where the demand for wood was high, and the need for conservation was secondary.Forest conservation requires policies and actions aimed at preserving natural resources, such as the implementation of sustainable harvesting methods and protection of endangered species. The need to extract timber at a faster rate made it difficult for conservationists to carry out their plans.
Economics delayed conservation efforts in the forest industry. Profit-making was prioritized over environmental protection, making it challenging for scientists to carry out their plans. In the late 19th century, the forest industry was highly profitable, and the exploitation of natural resources was rampant. Policies aimed at preserving natural resources, such as sustainable harvesting methods and protection of endangered species, required investment, which may lead to a reduction in profits. The demand for wood was high, and conservation was secondary, making it difficult for conservationists to carry out their plans. Therefore, economics played a significant role in delaying conservation efforts in the forest industry.
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Market failure associated with the free-rider problem is a result of.
Answers
Market failure associated with the free-rider problem is a result of benefits that accrue to those who don't pay.
What is market failure?Market failure refers to a situation when there's an inefficient distribution of resources in the market.
Market failure occurs when the free market does not distribute resources efficiently. This leads to rational outcomes for the group as a whole.
Hence, market failure associated with the free-rider problem is a result of benefits that accrue to those who don't pay.
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Accenture is helping a large retailer transform their online sales and services. The Data Analyst audits the client's customer journey and maps out the kind of data they need to collect at each touch point. How does this help the client achieve their objectives?
Answers
Answer: a. by updating their sales platform and adding new features
Explanation:
a. by updating their sales platform and adding new features
b. by shifting the focus away from the customer and towards new products or services
c. by identifying products that are poor sellers and removing them from the inventory
d. by increasing their customer knowledge and leveraging that information to improve customer experience.
From the question, we are informed that the data analyst audits the client's customer journey and then maps out the kind of data they will need to collect at every touch point.
This helps the client to achieve their objectives by updating their sales platform and adding new features. This is because we are informed at first that Accenture wants to help the retailer transform their online sales and services.
Accenture was created for helping clients in becoming cloud first business. Accenture extends technology sevices to its clients by brings together the capabilities and industry knowledge at one place.
Accenture helps the clients in transforming their online sales and services by mapping out the customer journey and the data they need to collect at the touch points.This is done after the audit of data of the client by data analyst.
Helping clients in achieving objectivesAccenture can help its clients by updating and analysing their sales platform and adding new and useful features to it which will help the clients in achieving objectives.
Therefore accenture can help in this manner to its clients in increasing and transforming their online sales.
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a. by updating their sales platform and adding new features
Explanation:
a. by updating their sales platform and adding new features
b. by shifting the focus away from the customer and towards new products or services
c. by identifying products that are poor sellers and removing them from the inventory
d. by increasing their customer knowledge and leveraging that information to improve customer experience.
From the question, we are informed that the data analyst audits the client's customer journey and then maps out the kind of data they will need to collect at every touch point.
This helps the client to achieve their objectives by updating their sales platform and adding new features. This is because we are informed at first that Accenture wants to help the retailer transform their online sales and services.
For those with health issues, regular exercise is not generally recommended. Please select the best answer from the choices provided. T F D. soccer Please select the best answer from the choices provided. A B C DIt's recommended that those with osteoporosis __________. A. monitor their blood sugar levels throughout cardiorespiratory activities B. increase their bone density with high-intensity activities C. always have their inhalers close by during flexibility activities D. limit their overall activity time to 20 minutes per day Please select the best answer from the choices provided. A B C D Mark this and return
Answers
Answer:
For those with health issues, regular exercise is not generally recommended. regular exercise can be too hard for them. If they have Asma attacks, they can stop breathing if they run for too long
Explanation: my sister has a health issue
Answer:
FALSE
Explanation:
To reach consensus, areas of disagreement must be emphasized.
True
False
Answers
To reach consensus, it is true that areas of disagreement must be emphasized in more than 100 words. In decision making, consensus refers to all members of a group or community, despite any initial disagreements or objections.
Consensus is frequently used in complex organizations and groups, such as governments, non-profits, and businesses, as a means of fostering collaboration and decision-making that is equitable and inclusive. In essence, consensus is about reaching agreement while valuing and considering every person's ideas and input, which necessitates a great deal of cooperation and communication.
Emphasizing areas of disagreement, as stated in the question, can facilitate the consensus-building process since it promotes dialogue and allows for the exchange of opinions. When we confront areas of disagreement and express our concerns, we can identify areas. To conclude, it is true that areas of disagreement must be emphasized to reach a consensus.
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List the five most common functions of business reports for an
organisation that manufactures electric cars for 1, 2 or 4
passengers. Name the users and the stakeholders involved in each
function.
Answers
The five most common functions of business reports for an organization that manufactures electric cars for 1, 2, or 4 passengers, along with the users and stakeholders involved.
Are as follows: Sales and Marketing Analysis:
Users: Sales and marketing teams, executives.
Stakeholders: Customers, dealerships, investors, shareholders.
Production and Inventory Management:
Users: Operations managers, production teams.
Stakeholders: Suppliers, logistics partners, investors.
Financial Performance Evaluation:
Users: Finance department, executives.
Stakeholders: Investors, shareholders, lenders, regulatory authorities.
Quality Control and Product Development:
Users: Quality control teams, research and development teams.
Stakeholders: Customers, regulatory authorities, investors.
Sustainability and Environmental Impact Assessment:
Users: Environmental compliance teams, sustainability managers.
Stakeholders: Regulatory authorities, customers, environmental organizations, investors. These functions and their corresponding reports serve different purposes and cater to various users and stakeholders within and outside the organization. By analyzing these reports, decision-makers can make informed choices, assess performance, ensure quality, drive innovation, and address sustainability concerns in the manufacturing and marketing of electric cars.
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please help me answer these questions
Answers
Answer: See explanation
Explanation:
1. Inelastic demand occurs when a change in price doesn't really have an effect on the quantity of the goods demanded. Examples of products with inelastic demand are salt and prescription drugs.
2. Elasticity for demand helps in the determination of the prices of factors of production. It is also vital in knowing how price changes will affect the revenue of the firm.
3. Normal goods are the goods that when income increases, the demand for them increases as well e.g. household appliances
For inferior goods, when Income increases, their quantity demand reduces. These are common with extremely cheap products.
Give four future of labour
Answers
MARK "BRIANLIEST!"
1. Government. Government holds much sway over the free markets. ...
2. International Transactions. The flow of funds between countries effects the strength of a country's economy and its currency.
3. Speculation and Expectation.
4. Supply and Demand.
MARK "BRIANLIEST!"