Applied Economics

Question #1
If your income or the income of your family is not enough to purchase the basic commodities needed by your family, what goods would you buy, instead?


Question #2
How would you respond to the price changes of these commodities?

Answers

Answer 1

If your income or the income of your family is not enough to buy the basic commodities needed, the goods that you should buy should be based on your scale of preference.

Some goods are known to be more of a necessity than some other goods. The scale of preference helps to outline the goods that would be of more use or necessity to the family.

The most important goods are

FoodClothingShelter

So the family would have to buy the most basic goods first given the limited resources.

2. A change in the price of these commodities may make the family to increase its purchase of the goods or it may cause them to buy less of it.

If the price of the good rises, the family would be only able to afford less of it. But if it falls in price, they would be able to buy more.

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Related Questions

s
Why was the idea of "taxation without representation" so
important to the revolutionary cause?

A.Colonists believed that Great Britain should tax only certain items.

B.Great Britain would have ended taxation if colonists had kept the
peace.

C.Colonists believed King George III had abused his pqwer by taxing
them without their consent.

D. Great Britain taxed the colonists only to force them into war.


Answers

Answer:

the answers C

Explanation:

taxation without giving colonists a voice is am abuse of power and led them to pull away from great Britain

Answer:

C

Explanation:

The Supreme Court decision ruling that "separate but equal" was constitutional and allowed racial segregation to take place was
a. Shelley v. Kraemer
b. Brown v. Board of Education
c. Loving v. Virginia
d. Plessy v. Ferguson

Answers

The correct answer should be D.) Plessy V Ferguson

Why do people in North africa
look different from the people in
Sub Saharan Africa?

Answers

The religion and culture and climate

Roberto a sole proprietor purchased a warehouse in 2016 for 500,000. His adjusted basis in the warehouse as of 12/31/2019 was $ 455,200. during 2020 there was a fire in the warehouse and Roberto spent $115,000 to repair the damage. The fire insurance company paid Roberto $ 100,000 on his damage claim. Assuming the 2020 depreciation expense on the warehouse is $ 40,000 what is the adjusted basis of the warehouse at 12/31/2020

Answers

Roberto's warehouse had an adjusted basis on December 31, 2020, is $430,200.

Data and Calculations:

Purchase cost of warehouse in 2016 = $500,000

Adjusted basis on December 31, 2019 = $455,200

Cost to repair damage =                            $115,000

Indemnity from insurance company =    ($100,000)

Depreciation expense for 2020              ($40,000)

Adjusted basis on Dec. 31, 2020          $430,200

Thus, Roberto's warehouse has an adjusted basis of $430,200 as of December 31, 2020.

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The captain of a boat is smuggling a family of Jewish refugees from Nazi Germany. A German naval boat comes alongside the captain’s boat and an officer asks if there are any Jews aboard. If the captain says “yes,” the Nazi officer will come aboard and shoot them. If the captain says “no” he will, in all likelihood, continue on his way and leave the Jewish refugees alone.
(1) What should the captain do according to either utilitarianism or Kantian ethics? Explain.
(2) What do you think the captain should do? Explain.

Answers

In keeping with utilitarianism and Kantian ethics, the captain must say that there are no Jews on board.

We can arrive at this answer because:

Utilitarianism is a philosophical theory that claims that it believes human actions should be based on ethics and morals.Kantian ethics states that reason must be the basis of all human actions and decisions.Thus, both utilitarianism and Kantian ethics support the captain's decision to assert that there are no Jews on board the ship.That's because ethics and morals would claim that the captain committed to transporting the Jews and not complying with that commitment is incorrect. The reason, in turn, claims that the Jews would be put to death and that would not be right.

In this case, we can say that the captain must not hand over the Jews and I followed the journey to transport them to a safe place.

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Brainliest if correct 4.1 Sequoyah Convention (25 POINTS)
The Sequoyah Convention was held to?
A. Honor the accomplishments of Sequoyah
B. Separate Indian Territory from Oklahoma Territory
C. Attempt to obtain statehood for Indian Territory
D. Seek compensation for land

Answers

B they wanted to separate the Indian territory from the Oklahoma territory

I need help please.

Answers

Answer

uhmm

Explanation:

i am not sure

"Our Country" is the common garden of different castes ethnos groups language and culture "Briefly Explain the stament "​

Answers

Answer:

Nepal is called to be a beautiful garden of various castes and religion as they follow there own culture and such diversity among people makes Nepal beautiful. Furthermore, the naturally beautiful floras and faunas, diverse wildlife and the landscapes have added beauty to the nature of Nepal

Many I/O psychologists belong to the Society for Industrial and Organizational Psychology (SIOP), one of the divisions of the American Psychological Association. According to a recent salary survey of SIOP members, what was the median salary for doctorate-level I/O psychologists

Answers

Answer: 120,000

Explanation:

I'm taking the test and this seems correct to me. I'm sorry if it's wrong

escriba 2 razones por las que se dio el auge bananero en el ecuador

Answers

Answer:

ENGLISH: A variety of factors allegedly contributed to the shift back to Ecuador, including an outbreak of Sigatoka Negra, a costly banana disease, in Central America and Colombia; an export tax levied by the Union of Banana Exporting Countries, which included all significant Latin American banana exporters, minus Ecuador

SPANISH: Una variedad de factores supuestamente contribuyeron al regreso a Ecuador, incluido un brote de Sigatoka Negra, una enfermedad costosa del banano, en América Central y Colombia; un impuesto a la exportación recaudado por la Unión de Países Exportadores de Banano, que incluía a todos los exportadores importantes de banano de América Latina, menos Ecuador

Explanation:

Who might someone most likely vote for and why: someone with more political experience or someone with less political experience?

Answers

Answer: don't be lazy and googIe it

Explanation:

What I found on googIe: "A study from 2011, for instance, suggests that people are more likely to vote again if they feel a sense of accomplishment as given by an expression of gratitude from their community."

In water test method, fresh eggs will _____? *

Answers

Explanation:

If eggs sink to the bottom of a bowl of cold water and lie flat on their sides, they are very fresh. If they are less fresh but still good to eat, they will stand on one end at the bottom. If they float to the surface, they are no longer fresh enough to eat.

sink to bottom of glass or bowl of water

A _________ is a motivation to engage in an action in the market?

Answers

Based on marketing analysis, value is a motivation to engage in an action in the market.

This is because both the buyers and the sellers are looking out for value.

Both buyers and sellers are looking for intrinsic and extrinsic value, which includes profits and the usefulness of the products and services.

Achieving value for money comes into play when the sellers are determining the product's prices and the profits to earn.

Similarly, the buyers would consider what he is to get for the products before payment.

Hence, in this case, it is concluded that the correct answer is "Value."

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How does human insecurity affect health?

Answers

Answer:

inability to secure adequate healthcare today

If we wanted to know what grade we needed to get on the final in this class based on our expected performance before the final, we would call that _____________ analysis

Answers

Explanation:

you read well to get your best grade so as to become just become better in future thank you

what theorists talks about the learning environment?

Answers

Answer:

Explanation:

Psychologists such as Albert Bandura found through observational learning, that the young child will observe and copy behaviors of others, leading to decision-making skills and development. Another that finds the environment as an important factor in learning and development of the young mind includes

Elvis is hired as a seasonal firefighter by the Washington Department of Forestry. The training used to prepare Elvis for his firefighting job involves an online training module. In this game-like module, Elvis is virtually placed in a real-life scenario such as a wildfire, resort fire, or residential cabin fire, and his goal is to assist in its containment or to extinguish the fire and save as many lives as possible. This form of training is referred to as

Answers

The form of training which involves an online training module In game-like module is referred to as Simulation training.

Simulation training is also called Virtual training.

Simulation training refers to a virtual medium through which skills can be acquired.

The training usually teach the user how to perform certain tasks in real-world scenarios.

Therefore, in conclusion, the form of training which involves an online training module In game-like module is referred to as Simulation training.

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Hàm số cầu của hàng hóa X có dạng: QD = 120 - 5P. Doanh thu của doanh nghiệp đạt cực đại bằng:

Answers

Answer:

English ??????????????????

How is/are the judge(s) selected? (Judicial branch for tibes)

Answers

Answer:

Judges may be selected based on their past rulings in lower courts or their conduct as a lawyer. A president may prefer one candidate over another based on their preference for the opposing practices of judicial activism or judicial restraint. If a judge does not have prior judicial experience, it is difficult to predict how they may rule in the future.

Approximately what percentage of bills becomes law?

A. 90%

B. 50%

C. 15%

D. 1%​

Answers

Answer: D. 1%

Explanation:

10. How do we measure inequality?

Answers

Answer:

Gini Index

Explanation:

hope it helps

When you learn that your English instructor also writes romance novels under a pen name, your perception of her changes. This is due to which influence on perception

Answers

Considering the situation described above, when you learn that your English instructor also writes romance novels under a pen name, and your perception of her changes, this is due to Access to information on perception.

This is because, with the Access to Information about your English instructor, you were able to know or understand the personality of your English Instructor better.

Also, knowing that she writes romance novels, you can judge her more based on these novels.

Thus, it is the access to information about your English Instructors that shaped or changed your perception of her.

Some other types of influence on perception include the following:

Past experiences;Education;Values;Culture;Preconceived notions;Present circumstances, etc.

Hence, in this case, it is concluded that the correct answer is "Access to Information."

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What is preoperational stage?

Answers

Answer:

The preoperational stage is the second stage in Piaget's theory of cognitive development. This stage begins around age two and lasts until approximately age seven. During this period, children are thinking at a symbolic level but are not yet using cognitive operations.

Jenna sometimes "shops till she drops," meaning she shops on an exhilarating high until she crashes into a major depressive episode. Jenna's behavior is most common to which disorder?

Answers

Answer:

Probably bipolar

Explanation:

Jenna sometimes "shops till she drops," meaning she shops on an exhilarating high until she crashes into a major depressive episode. Jenna's behavior is common to Bipolar disorder.

What do you mean by Bipolar Disorder?

Formerly called as manic-depressive disease, bipolar disorder is a brain and behavior disorder marked by abrupt changes in a person's mood and energy levels that make it challenging for the individual to operate.

Bipolar disorder affects more than 5.7 million American adults, or 2.6% of the population, who are 18 years of age or older each year. Although it can manifest in youngsters and older adults, the illness often begins in late adolescence or early adulthood. People frequently struggle with the disorder undiagnosed and untreated.

Overwhelming joy, excitement, or enthusiasm, tremendous energy, a decreased need for sleep, and fewer inhibitions—are experienced by people with bipolar disorder. Bipolar disorder is a highly individual experience. Nobody's experience is exactly the same for everyone.

Therefore, Jenna's behavior is common to Bipolar disorder.

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What 3 factors determined your social class in Mesopotamian social hierarchy

Answers

Answer:

Wealth, Education, and Occupation.

An incarcerated person's eligibility for release into community supervision depends on requirements set by law and _____________.

Answers

A person's eligibility for release from prison is dependent on  the law and

sentence imposed by the court.

When a person is tried and found guilty in the court of law, the judge reads

out the sentence which is meant to be served by the party guilty of the

offence.

When he's done or is some years into the sentence, the individual can be

released on normal grounds or on parole. Community supervision then

comes in as it helps integrate the affected individual into the society.

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what should be done to stop mis communication of the through media ?​

Answers

Try to be more open minded, try to see the both perspective of the situation before putting your opinion out there.

list one benefit of having an article from a database mailed to yourself​

Answers

Answer:

they are interested

Explanation:

when a database chooses you they are interested

Answer:

Explanation:

when a database chooses you they are interested

How is the judicial power structured?

Answers

Answer:

How is the judiciary structured and what are its powers? The judiciary consists of a Supreme Court and state courts. The Supreme Court can determine what federal laws mean and can overturn them if they are unconstitutional. Each state has its own supreme court, which interprets that state's constitution and laws.

Explanation:

"Conflict is the main cause of social violence".Justify the statement.​

Answers

conflicts are fights which happen between people. when conflicts get intensified they create violence as in destruction and abusement. when conflicts are created there are chances of it going further which creates social violence and disrupts the community
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