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

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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Which of the following is an accurate paraphrase of the statement below? Each time we select one alternative, we give up another. A. Each time we make a choice, we give up a benefit. B. Each time we make a choice, we give up a different choice. C. Each time we select a consequence, we are given a cost. D. Each time we select a marginal benefit, we are given a cost. Please select the best answer from the choices provided A B C D

Answers

Answer:

it is B

Explanation:

___ and transportation make up -60% of global fossil fuel consumption.

A: Energy
B: Retail
C: Food
D: Production Plastics​

Answers

it’s D Plastics are made from raw materials like natural gas, oil or plants, which are refined into ethane and propane. Ethane and propane are then treated with heat in a process called “cracking” which turns them into ethylene and propylene. These materials are combined together to create different polymers.



Explanation : yea

what response should we do in exchange of the love offered to us by Jesus despite our sinfulness​

Answers

Answer:

To be faithful and obey God for He is our savior

Which are elements of art?

A.
line and texture

B.
emphasis and shape

C.
contrast and unity

D.
rigor and flexibility

Answers

Answer:

The answer is A, line and texture

PLSSSSSSSSSS ANSWER THISSSS QUICKLYYYYYY​

Answers

Answer:

(b) forest soil

here your answer

hope it helps you

Answer:

Forest Soil.

What was the Chinese Cultural Revolution?

an attempt to embrace communism by destroying all traces of the past
a group that tried to improve productivity without lessening communist power
a resurgence of belief in traditional Chinese cultural ideas
an effort to meld old customs with modern economic freedom

Answers

Answer:

a resurgence of belief in traditional Chinese cultural ideas

Explanation:

A___________ resource is one that can be easily replaced. For example, sunlight

Answers

Answer:

renewable

Explanation:

Listen
Kamil, a 33-year-old lawyer, experiences premature ejaculation. Through behaviorally
oriented therapy, he would most likely learn to minimize his problem by
a) uncovering the unconscious fears that underlie his problem.
Ob) engaging in sexual activity less frequently.
c) eliminating his high level of sexual guilt.
d) learning ways to control his urge to ejaculate.
ao 8 of 14

Answers

Answer:

I think the answer is D

Explanation:

What is the difference between traditional and new social movements?​

Answers

Answer:

Ok, so tradional is, basically like big acts that have to do with things like religion and tradition and cultur etc. And then social movements are big acts for communitys and states, things like that. I hope this helps!

Explanation:

Its up there .

1. What are the differences between a command economy and a market economy?

Answers

Answer:

Market economies utilize private ownership as the means of production and voluntary exchanges/contracts. In a command economy, governments own the factors of production such as land, capital, and resources.

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."

Which of the following correctly shows the difference between weight and mass?

A Weight and Mass are the same thing

B Weight is dependent on gravity whereas Mass is the amount of matter in an object.

C Mass is dependent on gravity whereas Weight is the amount of matter in an object.

D Mass is dependent on Weight

Answers

The answer is B. How I remember it is both start with an “m” so it’s a little easier. A scale just measures the pull of gravity on an object.

The difference between weight and mass is that the weight is dependent on gravity whereas Mass is the amount of matter in an object. Thus option (B) is correct.

What is mass?

Mass is a fundamental physical property of matter that measures the amount of matter in an object or substance. It is a scalar quantity, which means it has only magnitude and no direction.

The SI unit of mass is the kilogram (kg), and it is defined as the amount of matter in an object. Mass is different from weight, which is the force exerted on an object due to gravity and depends on both the mass of the object and the acceleration due to gravity.

The weight is dependent on gravity whereas mass is the amount of matter in an object is the difference between weight and mass. Therefore, option (B) is correct.

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"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

what was the role of the Iroquois confederacy during the french and indian war

Answers

Answer:

The Iroquois Confederacy sided with the British during the French and Indian War. The Iroquois Confederacy claimed that it owned the lands that made up the Ohio Country. The British government, which argued that the Iroquois were their subjects, used the Iroquois claim to assert that it held legal title to the land.

Explanation:

What do we mean by nation​

Answers

Answer:

a large quantity of people united by common descent, history, culture, or language, inhabiting a particular country or territory.

discuss the filinnials

Answers

Answer:

Fillinials (Filipino Millenials) In Filipino terms, Millennials are called Filinnials. They are described as the selfie generation and followers of social media. Increased use and familiarity with communications, media, and digital technologies.

A credit counselor may work in a consumer retail credit capacity, advising on things such as credit cards, student loans, or car loans.


True
or

False

Answers

false False false false false false false that’s my exclamation

Which region is predominantly
Protestant? What about Sunni
Muslim?

Answers

Answer:

Which region is predominantly  Protestant?

The Nordic nations as well as the United Kingdom are among those affected. The Protestant faith continues to be one of the most popular in other historical Protestant strongholds such as Germany, the Netherlands, Switzerland, Latvia, Estonia, and Hungary, among others.

What about Sunni  Muslim?

Sunnis are the vast majority of Muslims - estimates place the ratio anywhere between 85 percent and 90 percent. Egypt, Jordan, and Saudi Arabia are the Middle Eastern nations with the highest number of Sunnis, with Sunnis accounting for 90 percent or more of the population in each of these countries.

Explanation:

Hope it helps;)

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.

Brainliest if correct 4.3 All-Black Towns
African Americans in Oklahoma and Indian Territories would create their own communities to
A. escape discrimination
B. have open markets for crops
C. acquire financial assistance
D. all of the above

Answers

Answer:

D. all of the above

Explanation:

For a variety of causes, African Americans in Oklahoma and the Indian Territories would form their own settlements. The desire to be free of prejudice and abuse would be a motivator. All-Black villages provided the benefit of being able to rely on neighbors for financial support as well as having access to open markets for commodities.

The reserve requirement refers to which tool of monetary policy?

Answers

Answer:

the ability to offer

Explanation:

Why are you afraid of darkness?​

Answers

Answer:

Im not so much afraid of the darkness but what is hiding inside of it and the ability to not see the world around you.

question of the day


In 10 years time, will you be proud of what you are doing now?

Answers

Answer:

Yea

Explanation:

Agriculture was first invented when people moved to towns and realized they needed a larger food supply.

A.
True

B.
False

Answers

B.False because agriculture was made about 12,00 years ago our ancestors and hunters and farmers were the first people to do it and it was a thing way before it was called agriculture

Answer:

False

Explanation:

Agriculture was invented in fertile cresent

Why did Japan want to expand its territory into Manchuria? to antagonize Russia to create a hybrid Japanese and Chinese cultural identity to develop the land as part of a new imperial palace to support its growing population

Answers

Explanation:

The answer is given in the question

Answer:

The Empire of Japan[c] was a historical nation-state[d] and great power that existed from the Meiji Restoration in 1868 until the enactment of the post-World War II 1947 constitution and subsequent formation of modern Japan.[8] It encompassed the Japanese archipelago and several colonies, protectorates, mandates, and other territories.

During which Revolutionary War battle did troops have a day of Thanksgiving?

Answers

Answer: Saratoga

Explanation: To celebrate the American victory at Saratoga, the Continental Congress issued a proclamation for a national day "for solemn Thanksgiving and praise," the first official holiday observance with that name.

They had a day of thanksgiving in Saratoga

Drag each tile to the correct box. The president vetoes a bill that originated in the House of Representatives. What happens next? Put the steps in order. Two-thirds of the Senate votes to override the veto. The bill is sent to the Senate. The bill goes back to the House of Representatives. Two-thirds of the House votes to override the veto. The bill passes and becomes law. ↓ ↓ ↓

Answers

Answer:

This veto can be overridden only by a two-thirds vote in both the Senate and the House. If this occurs  The president cannot return the bill to Congress.

Explanation:

Gender identity and expression in the early childhood classroom:influence on developing within socialcultural contexts-when

Answers

Gender identity and expression in the ararki childhood cjDttoomm and information on development within social I can

Brainliest if correct 4.3 All-Black Towns
Following passage of Jim Crow laws, African Americans in All-Black town left for
A. Western Canada
B. Mexico
C. Africa
D. All of the above

Answers

Answer:

D. All of the above

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