Diminishing returns - Study guides, Class notes & Summaries

Economics- Chapter 5 Latest Update Already Graded A supply the amount of a product that would be offered for sale at all possible prices that could prevail in the market law of supply principle that suppliers will normally offer more for sale at high prices and less at lower prices supply schedule a listing of the various quantities of a particular product supplied at all possible prices in the market supply curve a graph showing the various quantities supplied at all possible prices that mig...

Liquidity correct answers the ease with which an asset can be converted into the economy's medium of exchange Commodity Money correct answers money that takes the form of a commodity WITH intrinsic value (has value even if it were not used as money) - ex: gold M1 = correct answers - currency - demand deposits - traveler's checks - other checkable deposits M2 = correct answers - everything in M1 - savings deposits - small time deposits - money market mutual funds - a few minor ...

Capsim Quizzes Market segments are named for: a The customer's geographic region b The customer's end product c The manufacturer's geographic region d The customer's top concern - d. The customer's top concern Of the five market segments, which three are more concerned about leading-edge technology within their respective segment expectations? a Size Segment, Peformance Segment, and Traditional Segment b Size Segment, Performance Segment, and Low End Segment c Size Segment, Pe...

What is advertising? - correct answer --a popular form of promotion Why do new brands w/small market share tend to spend more for advertising and sales promotion? - correct answer --a certain minimum level of exposure is needed to measurably affect purchase habits -after certain level of spending, diminishing returns set in Define advertising response function. - correct answer -spending for advertising and sales promotion increases sales or market share, up to a certain level, but then p...

RSK 4802 EXAM PACK 2022 JANUARY /FEBRUARY 2016 QUESTION1.1 ai) Risk management is an important process because it empowers a business with the necessary tools so that it can adequately identify and deal with potential risks. Once a risk has been identified, it is then easy to mitigate it. In addition, risk management provides a business with a basis upon which it can undertake sound decision-making. -For a business, assessment and management of risks is the best way to prepare for even...

animal systems - answerAg, Food, and Natural Resources pathway that includes careers that involve animals environmental - answerAg, Food, and Natural Resources pathway that employs people who are interested in preserving the environment food products and processing - answerAg, Food, and Natural Resources pathway that is dedicated to food production, processing, and preservation natural resource systems - answerAg, Food, and Natural Resources pathway that focus on natural resources and the...

Final Exams ECON 1580 Introduction to Economics Question 1 If the price of chocolate-covered peanuts increases and the demand for strawberry licorice twists increases, this indicates that these two goods are: a. unrelated goods. b. superior goods. c. inferior goods. d. substitute goods. Question 2 A decrease in the demand facing a monopoly firm would _______ quantity and _______ price. The demand is inelastic. a. increase; increase b. increase; decrease c. decrease; increase d. decrease; decreas...

characteristics of monopolistic competition include all of the following except correct answers identical products As the manager of a waterpark, you want to increase the number of tickets sold by 6%. Your staff economist has determined that the price elasticity of demand for waterpark tickets is 2. To increase sales by the desired amount, you should decrease price by correct answers 3% A production possibilities frontier shows correct answers all of the possible combinations of goods & se...

If, when a firm double all its inputs, its average cost of production decreases, then production displays correct answers economies of scale The long-run average cost curve shows correct answers the lowest average cost of producing every level of output in the long run All of the following statements are true of the minimum efficient scale except one. Which one? correct answers an increase in the output level will increase profit At the minimum efficient scale correct answers the firm h...

supply and demand - correct answer the amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price. High supply and low demand - correct answer lower prices Low supply and high demand - correct answer higher prices law of diminishing returns - correct answer refers to a point at which the level of profits or benefits gained is less than the amount of money or energy invested. fixed costs - correct answer Costs that ...