Pencils - (for pearson users)
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I wasn't able to see what goods that you were talking about, but it is anything that has inelastic demad. i.e. the reactiveness of demand to a change in price. This would include things that we cannot live without, and those which we get addicted to e.g. petrol, alcohol, tobacco. Hope that helps!
If there is an increase in demand, there will be increase in the price of the product if the supply remains the same. But if the manufacturer or supplier is able to supply increased quantity of product there will be no major effect.
Yes. Imagine you are in the market to buy a sports car. A $100 increase in price is not likely to affect the quantity you will demand. However, if you are in the market for bananas a $100 increase in price will definitely affect the quantity you will demand.
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I wasn't able to see what goods that you were talking about, but it is anything that has inelastic demad. i.e. the reactiveness of demand to a change in price. This would include things that we cannot live without, and those which we get addicted to e.g. petrol, alcohol, tobacco. Hope that helps!
If there is an increase in demand, there will be increase in the price of the product if the supply remains the same. But if the manufacturer or supplier is able to supply increased quantity of product there will be no major effect.
Yes. Imagine you are in the market to buy a sports car. A $100 increase in price is not likely to affect the quantity you will demand. However, if you are in the market for bananas a $100 increase in price will definitely affect the quantity you will demand.
Commercial vacuum could still be bought in stores such as COSTCO where they sell commercial products in bulk quantity and you are more likely to get a better price and good quality.
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The likely word is "least" (of the smallest quantity or extent).
A Macbook keyboard can be purchased directly from the Microsoft companies, via secondary retailer or directly from their website. Other business, such as Walmart and Target will most likely offer this product.
m apex :)