3. What is the difference between elastic and inelastic demand? Use your own
perspective and experience as a consumer to give an example of each, being sure to
clearly explain why you consider your demand for these goods to be elastic or
inelastic. (4 points)

Answers

Answer 1

The elasticity of demand is when a change in the price will affect the demand for the goods.

What is the demand?

Demand refers to a consumer's desire to buy products and services, as well as their ability to pay a price for them. When the demands for any goods rise, then the price of the goods will also increase.

In elastic demand, the shift in the demand curve as a result of a price change is large whereas the change in quantity demanded as a result of a price change is minor in an inelastic demand.

An example of inelastic demand will be Gasoline since individuals buy about the same amount even when prices go up. Cereals or durables consumed are referred to as an example of elastic demand so these can be postponed if the prices are high.

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Related Questions

What is foreign employment?​

Answers

Being employed in a different country than that of a persons origin

what would you do if your mother tells you that you to look after the house?

Answers

Answer:

well then you would look after the house

Explanation:

first what ever you do don't brake anything second Keep the house clean don't make any messes third it is always good to lock the doors just to be safe fourth if there was any messes before she left maybe help and to a little more and clean that to

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why did the Harriet Beecher Stowe’s Uncle Tom’s Cabin cause the Civil War?

Answers

Answer:

Stowe's Uncle Tom's Cabin widened the chasm between the North and the South, greatly strengthened Northern abolitionism, and weakened British sympathy for the Southern cause. The most influential novel ever written by an American, it was one of the contributing causes of the Civil War.

Explanation:

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Which of these experts would a historian most likely consult to learn about the effects of the modern lumber industry on a country's forests?

Answers

Among others, a professional geographer is most likely to be consulted by a historian to learn about the effects of the modern lumber industry on a country's forests.

Who is a professional geographer?

This is an expert who studies the physical features of the earth, its atmosphere, and human activity as it affects and is affected by these.

Therefore, the geographer is most likely to be consulted by a historian to learn about the effects of the modern lumber industry on a country's forests.

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write your personal mission statement that clearly indicates your own position in engaging in service delivery protests that will be a good model to the youth.​

Answers

"Service provision" is helpful for personal mission statement that clearly indicates the position in engaging in service delivery protests that will be a good model to the youth.​

What do you mean by Service provision?

Service provision protests are helpful to show the responsibilities that youth needs to be adopt in their life not only in case of education center they belong but for a community that depends on these services.

Hence, the protests needs to have the proper aim for claiming these types of services in a protective and peaceful way.

This allows the youth to see protests as something beneficial and not something that destroys and causes problems.

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the great migration was

Answers

Answer:

was one of the largest movements of people in United States history.

Differentiate monopoly quantity from efficient quantity

Answers

Monopoly quantity produces too little output at too high a cost but efficient quantity is where the demand equals the marginal cost.

What is a monopoly?

A monopoly refers to the dominant position of an industry or a sector by one company.

The efficient quantity of output is where the demand highly equals the marginal cost whereas monopoly quantity produces too little output at too high a cost.

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The price of a gallon of almond milk increases from $5 to $10, so people start buying more oat milk as an alternative. This causes a shift to the left in the demand for almond milk. Demand for almond milk ____________ because of a change in ___________.

A. Increased; tastes and preferences
B. Increased; number of buyers
C. Decreased ; related goods
D. Decreased; income

Answers

The demand for almond milk decreased because of a change in income.

What is a demand?

It means the quantity of a good that consumers are willing to buy at particular prices during a given period of time.

Here, as the price of a gallon of almond milk increases, the demand for almond milk decreased because of a change in income.

Therefore, the Option C is correct.

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Answer: Decreased; income

Explanation:

please define social psychology and discuss some of "social psychology's big ideas."

Answers

Answer:Social psychology is the scientific study of how the thoughts, feelings, and behaviors of individuals are influenced by the presence of others and the internalized social norms that humans are influenced by, even when alone.

Explanation:

:)

Determine alternative actions that could have been used by the federal government or the central bank to alleviate or divert the economic crisis that prompted your selected government policy. Explain if your alternative action is better for the overall health of the economy or not. (6-8 sentences)

Answers

The alternative actions that could have been used by the federal government or the central bank to alleviate or divert the economic crisis are to follow the expansionist monetary policy.

What are economic crisis?

Economic crises is the situation which refers to the financial crises in the economy such crashing of the stock market, no flow of money in the market, reduces production, currency crises etc.

The federal government goes for the traditional methods in the crises situation. some of the ways are decrease in interest rates, increase in the money supply, reduction of the reserve rates to the banks etc.

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Select all the correct answers.
What was a result of the Brown v. Board of Education ruling?

20 POINTSIt encouraged many African American students to enroll in all-White schools in the South.
It convinced individuals that integration was too dangerous for African Americans.
It changed the majority of individuals’ perspectives on desegregation in schools.
It showed that racial separation continued even after segregation was outlawed.
It displayed that the Board of Education had more influence over the ruling.

Answers

B : it changed the majority of individuals perspectives on desegregation in schools , i believe .

Which of the following is a natural barrier to the entry of firms in an industry?

A. Issuing of patients
B. A public franchise
C. License
D. Economies of scale

Answers

Answer:

D

Explanation:

The correct answer to this question is D

Economies of scale are the natural barriers of entry achieved by firms when it produces...

Answer:

D

Explanation:

Economies of scale are the natural barriers of entry achieved by firms when it produces something.

What does a bank do with people's money? (4 points)

a
Buys computers with it to help run the bank

b
Stores it in small boxes until the individual requests it

c
Lends it to other people and charges interest

d
Gives it back right away and pays interest

Answers

Hopefully, the answer to your question is C.

What position does DR Martin Luther king jr hold in his speech I have a dream

Answers

Dr. Martin Luther King Jr., as position of Baptist minister Dr. Martin Luther King Jr. gave a speech as an "I Have a Dream."

What is Speech?

A speech is an oral presentation made to a live audience. Speech purpose: to persuade a big audience of her point of view.

I Have a Dream” This speech was a motive to deliver civil rights moments, economic rights, and an end to racism in the United States. Martin Luther King Jr. gave an important speech on August 28, 1963, in American history.

As a result, Martin Luther King Jr. as position on Baptist minister.

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What is the current account for each country?

United States:
-Purchased $800 of goods and services
-Sent $100 of humanitarian aid
-Americans spent $200 in Chinese stock market
-American tourists spend $1000 in China

China:
-Chinese tourists spend $1000 in the US
-Purchased $300 of goods and services
-Chinese purcgaed a $600 business in the US
-Chinese government purchased US bonds​

Answers

Answer: I can only calculate the us number but it’s $2100

Explanation:

Analyze how limitations to the right to freedom of expression of the media may assist in promoting public safety

Answers

The state may however limit the freedom of expression on certain grounds such as national security

The Magna Carta...

A) Created taxes
B) Divided England
C) Declared war on France
D) Limited the king's power

Answers

Answer:

D) Limited the king's power

Explanation:

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Dear students, construct 5 arguments consisting of premise and conclusion statements and indicator words in group. The argument you construct must be your own and the arguments must be good and bad argument types. ​

Answers

To build a good argument, it is essential to have a foundation on your ideas, which will lead the reader to reflect on what is being said.

How to build an effective argument?

It is essential that ideas be organized in a logical way, based on a scientific basis if possible, with data and information that increase reliability.

Therefore, in order for your premise and conclusion to be in line with your objective, you should also include group indicator words, such as for premise the word "assuming that", and for conclusion the word "consequently".

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Compare and contrast a structure-based model of recognition and a view-based model.

Answers

Is based on a hybrid representation of shale in which view like representations

Why did people begin migrating to Europe in the 300s?
A) Major cities were already set up for people to live in.
B) The rulers had efficient trade routes set up.
C) The government was well organized and fair.
D) There were many rivers that provided fertile soil.

Answers

People started to migrate to Europe in the 300s because the rulers had efficient trade routes set up during that period. Thus, Option B is the correct statement.

What do you know about migration?

Migration refers to the movement of human beings from one area to some other as a way to stay and work. The movement of human beings from their domestic to some other city, country, or country for a job, shelter, or a few different motives is known as migration,

Therefore, People started to migrate to Europe in the 300s because the rulers had efficient trade routes set up during that period. Thus, Option B is the correct statement.

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Which law protect citizens from human rights violations

Answers

Answer:

The Universal Declaration of Human Rights (1948)

Explanation:

Determine if Pepsi and coca-cola are duopoly

Answers

Both Pepsi and coca cola are a duopoly.

What is duopoly?

Duopoly is a  market  that is competitive and in this market in two different companies  selling almost similar products sell their product to Large number of consumers because they have large consumer base.

In a duopoly market the producer are the determinant of the market price of the product they sell to consumer and the beverage companies are known to control about seventy five percent of the market.

Therefore Pepsi and Coca cola are a duopoly.

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During the Middle Ages, Jews
a.

were discriminated against throughout Europe.
b.

controlled territory in much of Europe.
c.

had a strong alliance with Muslims.
d.

began several important universities.



Please select the best answer from the choices provided

Answers

c. had a strong alliance with Muslims

Answer:

b

Explanation:

i am muslim i should know

ways in which community Can help in Shaping one's personalities​

Answers

Answer: The community has a big influence in shaping one's community because you are a person living in that said community. The culture, trends, practices, and such will affect your habits, decisions, and choices because the community is a big impact on your life.

what does the authors use the descriptive phrase 'paternal acres and native air in the first stanza most suggested about the speker

Answers

Answer:

He remembers his family fondly.

Explanation:

why is it important to learn about the impact that colonization had on indigenous women in 1876? giving brainliest:)

Answers

The Europeans brought many diseases with them that decimated Native American populations

What does the acronym M.A.I.N stand for?

Answers

Answer: militarism, alliances, imperialism and nationalismThe M-A-I-N acronym is often used to analyse the war – militarism, alliances, imperialism and nationalism.


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Which of the following statements best describes the Baker and Pascua River Dam project in Chile?

Answers

Answer:

the project will bring more electricity resources to Chile, but there will be negative effects to people and the environment.

Explanation:

The graph shows a recent budget for the state of washington 

Answers

Based on the budget for the state of Washington, the source of government revenue is sales and property taxes.

Where does the Washington state government get revenue?

As a state government, the Washington state government relies on taxes for its revenue.

The budget shows however, that most of the taxes are from the sales of goods and services in the state, and properties that are in the state.

Question:

Washington’s state government collects (blank) taxes to generate revenue.

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help mee thank youu!

brainiest given!

Answers

Answer:

option 3

Explanation:

the word Tao literally means "way"

Answer:

Answer 3: The Way

Explanation:

The term "Tao" means way, path, or principle.

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