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What percentage of consumers incomes goes for food apparel recreation?
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How do you calculate percentage for expenses on an income statement?
Its the amount of expenses divided on the amount of incomes *100 , so we can get the percentage of expenses from incomes .
The term inferior goods refers to what kind of goods?
goods that consumers demand less of when their incomes increases
The term normal goods refers to what kind of goods?
Goods that consumers demand more of when their incomes increase
The term inferior goods refers to what kind of good?
goods that consumers demand less of when their incomes increases
What is degreesive tax?
› TAX a type of tax in which people with high incomes pay less tax as a percentage of their income than those people with low incomes:
What percentage of African Americans have incomes below median level?
3.5% source: American Statistical Society
When consumers get more money they tend to substitute normal goods for what kind of goods?
Superior goods are those which experience increased consumption as incomes increase.
What percentage of home mortgages require two incomes to qualify for the mortgage?
I have no clue on your answer kmsl lol haha byatch
Describe the progressive nature of the individual income tax?
It imposes a higher percentage rate of taxation on persons with higher incomes.
Factors influencing demand?
-Price of good or service (P)-Incomes of consumers (M)-Prices of related goods & services (PR)-Taste patterns of the consumer (T)-Expected future price of product (Pe)-Number of consumers in market (N)
What are the four economic questions?
-What should the economy produce? Market economies use price to answer this question. For example, Product X at a very high price may not sell, thus producers may stop making the product. -How should goods/services be produced? Producers combine resources (consumers sell factors of production) to make products they can sell. Price of factors of production influence producer decisions to make or not to make a product -Who should receive the goods/services produced? Incomes limit choices and decisions of consumers as they respond to price in the marketplace. Consumers earn incomes based on their contributions (factors of production) to production of goods/services. -How should the economy provide for growth? Producers increase the supply of goods and services in response to price in the marketplace. Consumers earn increased incomes as they respond (offer their labor or capital) to the price of factors of production.
What factors are affected when taxes are raised or lowered?
When taxes are raised and lowered, the economyi s affected, the money exchange rates and also the lives of people and consumers. This is because there lowering and highering of taxes will take its toll on the consumers and how they are able to balance their salaries and incomes for everyday use.
