What does the term normal goods refers to?

Answers

Answer 1

Answer: Normal goods are any goods for which demand increases when income increases, and falls when income decreases but price remains constant, i.e. with a positive income elasticity of demand.

Answer 2

Answer:

goods that consumers demand more of when their incomes increase

Related Questions

Drs. James and Janet Baker saw that many people experienced difficulty and frustration when typing, some because of physical disabilities. So they invented a voice recognition software to allow users to talk to the computer. Their ideas have become Dragon Naturally Speaking, a popular talk-to-type software application. Which of these statements describes their startup? A) Borrow heavility from existing products or services. B) Combine two businesses to create a market opening. C) Begin with a problem in mind or a pain you can relieve. D) Recognize a hot trend and ride the wave.
Give an example of a person interacting outside of a market?
Paying rent is a needwhile buying a new video game is a want If you buy a new video game, you cannot pay your cell phone bill. This is an example of...setting a long term goalsetting a short term goalrealizing opportunity cost
Which of the following statements is TRUE? A. Total consumer surplus is represented graphically by the area beneath the demand curve. B. Consumer surplus is the difference between the maximum price a consumer is willing to pay for a good or service and its market price. C. Bill is willing to pay $10 for a pound of clay. If he buys a pound of clay at a market price per pound of $5, his consumer surplus is $2. D. Total consumer surplus is represented graphically by the area above the demand curve.
New ventures:a) should be killed if they don't make a profit within three years.b) are often preferred by technology-based companies.c) are more attractive compared to acquisitions when entry barriers are high.d) are less risky than acquisitions. e) are best when the company is entering the industry on a small scale.

Which of the following statements is correct?A.The payment of a cash dividend reduces net income.B.Cash received from issuing common stock to stockholders is reported as a financing activity cash flow within the statement of cash flows.C.Providing services to a customer on account does not impact net income.D.The purchase of manufacturing equipment is reported within the statement of cash flows as a financing activity.

Answers

Answer:

B.Cash received from issuing common stock to stockholders is reported as a financing activity cash flow within the statement of cash flows.

Explanation:

As when common stock is issued, it provides cash to the company, for any kind of investments, or expense to be made, for running the business.

Financing activities are those which arrange monetary assets generally cash for the company, issue of securities, issue of bonds, borrowings as loans or note payable.

Thus, the statement B is correct.

Further dividends are provided after tax, and are distribution from net income, but not shown under that.

Providing services on account will provide revenue and net income will increase.

Purchasing of any equipment is investing as it will create an asset for the company.

Justify the establishment of a State-Owned Company

Answers

The establishment of a state -owned Company is really important for every nations, especially if it involved in the resources that is critically needed for the people.
For example, lets say that all of the water resources fall to the hands of capitalist. Imagine how expensive it could be to get a simple drinking water or for baths.

The goal in networking with other business owners is toa. find out what the competition is doing.
b. try to see how people from different fields can help you.
c. find new investors for your business.
d. discover how you can help one another.

Answers

The goal in networking with other business owners is to discover how you can help each on another. When you do networking with different business owners, you're trying to collaborate in order to make your both business very popular and boom in the market.

Answer:

D. Discover how you can help one another

Explanation:

Hope this helps! C:

__________ is one of the key factors in effective teams.a. Building trust
b. A good leader
c. Clear rules
d. A goal handed down from upper management

Answers

All if the above are all good but i would say building trust is the most important i think is Teamwork

Jamie is a 47-year-old accountant who has worked for a large software firm for more than 25 years. His performance during this time has been exceptional, and he is highly regarded by his peers. Despite this, he is notified that he is being laid off as the management wants to replace him with a younger employee. In this scenario, the management of Jamie's firm is violating _____.

Answers

Answer:

Title VII of the Civil Rights Act of 1964.

Explanation:

Jamie's firm in the given scenario is violating 'Title VII of the Civil Rights Act of 1964.' According to this law, any organization is prohibited to discriminate against its employees on the basis of age, race, religion, etc. The employer can not recruit someone favorably and treat an employee differently. Since his organization is intentionally discriminating against him despite his exceptional performance and contribution to the progress of the firm, thus, it is violating the title vii of the Civil rights act.

At the beginning of January 2022, a company reported inventory of $4,000. During the month, the company made purchases at a total net cost of $17,800. On January 31, 2022, a physical count of inventory reported $4,200 on hand. Find the cost of goods sold for the month.A. $17,600B. $18,000
C. $17,800
D. $21,800

Answers

Answer:

.A. $17,600

Explanation:

The cost of goods sold refers to the costs incurred in producing products sold by a business. The formula for calculating the cost of goods sold (COGS) is as follows

COGS=Beginning Inventory+Purchases −Ending Inventory.

In this case:

Beginning inventory is $4,000

Ending inventory is $ $4,200

purchases : $17,800

Therefore:

COGS = $4,000+ $17,800 -$4,200

COGS =$17,600

Other Questions

Which type of portfolio might a young investor who is not afraid of risk choose?a. A portfolio of with a high percentage of stocks b. A portfolio with a high percentage of conservative mutual funds c. A portfolio that is mostly cash d. A portfolio with a high percentage of treasury bonds.

What are some objections that you may hear from a potential employer?

A business-level strategy is an integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage in specific product markets.(A) True(B) False

The ethical codes that tell employees what behavior is expected of them and establish the punishment for any violations are called _______ ethics codes.a. customs-basedb. retribution-basedc. integrity-basedd. compliance-based