Supply and Demand Curve. pllzzzz help<333?
The market of pizzas in a college town decreased recently, and the students in an economics class are debating the cause of the price decrease. Some students suggest that the price decreased because several new pizza parlors have recently opened in the area. Other students attribute the decrease in the price of pizzas to a recent decrease in the price of hamburgers at local burger joints. Everyone agrees that the decrease in the price of hamburgers was caused by a recent decrease in the price of ground beef, which is not generally used in making pizzas. Everyone also agrees that pizza parlors and burger joints are entirely separate entities-that is, there aren't places that serve both pizzas and hamburgers. The first group of students thinks the decrease in the price of pizzas is due to the fact that several new pizza parlors have recently opened in the area. 1) What is the new adjustments to the supply and demand curves to illustrate their explanation for the decrease in the price of pizzas. The Second group of students attributes the decrease in the price of pizzas to the decrease in the price of hamburgers 2) What is the new adjustments to this new supply and demand curve 3) Suppose that both of the events you analyzed above are partly responsible forthe decrease in the price of pizzas. Based on your analysis of the explanations offered by the two groups of students, how would you figure out which of the possible causes was the dominant cause of the decrease in the price of pizzas? A) If the price decrease was small, then the supply shift in the market for pizzas must have been larger than the demand shift. B) If the price decrease was large, then the supply shift in the market for pizzas must have been larger than the demand shift. C) If the equilibrium quantity of pizzas decreased, then the supply shift in the market for pizza must have been larger than the demand shift D) Whichever change occurred first must have been the primary cause of the change in the price of pizzas E) If the equilibrium quantity of pizzas decreased, then the demand shift in the market for pizza must have been larger than the supply shift I KNOW IT IS LONG BUT PLEASE HELP<333333
How is India the largest exporter of beef in the world given that we have a ban on slaughtering cows in many states? How is India still the industry leader in cow slaughter?
It is sad to hear that today, India ranks fifth in world for beef production and first in exporting beef.Wikipedia says that India produced 3.643 million metric tons of beef in 2012. Out of which 1.963 million metric tons were consumed domestically and 1.680 million metric tons were exported.Even during the Mughal rule, cow killing was banned in India. The whole dynasty – Babur, Humayun, Akbar, Jahangir, Shah Jahan, and Bahadur Shah Zafar upheld the ban.Today, we want to conserve the tigers, save the rhinos, protect the stray dogs, and preserve wild life. Why not show the same compassion to the cows, which are gentle, social animals?Here are Top 10 Reasons Not to Eat Cows (an article published by PETA) and none of them are religious. Anyone who wants to live a healthy and civic life will accept these reasons as valid.For those who are accustomed to eating meat, try these Veggie Meat is fast becoming a new food trend. There are alternatives available for every type of meat. Why not allow the cows to live peacefully?Conserve tiger. Protect stray dogs. But cows…?
What is Law of Demand? definition with examples?
The law of demand states that there is a direct relationship between the price of a good and the demand for it. In particular, people generally buy more of a good when the price is low and less of it when the price is high. This is a general rule that applies to most goods called normal goods. As the price of a normal good increases, people buy less of it because they are usually able to switch to cheaper goods. An example is butter, which can be substituted for margarine when the price of butter increases. However there are certain goods that defy this general rule. One such category of goods is called "Giffen goods". With "Giffen goods", there are no cheap substitutes and these goods are so important to the livelihood of the consumer that he devotes overwhelmingly more of his income towards its purchase when the price increases. "Giffen goods" are extremely rare but one popular historical example of this phenomenon is potato during the Irish potato famine in the mid 19th century. It has also been suggested that gasoline may be an example of a modern day "Giffen good".
What other factors affect material selection other than design?
Product quality , Cost of the material and transportation or freight costs, relation to the stock markets and supply and demand formula, material durability and availability of spare parts .
Finance questions, really confused and please help!?
1. The financial choices we make impact our economy. Think of a recent item you purchased. What factors influenced your decision in making this purchase? Did this purchase impact your local economy? Explain why or why not. 2. In the lesson you learned that a market economy is where the prices of services and goods are determined through a free system. Tell what you think an advantage and disadvantage is of this type of economy. 3. Every day you hear on the news about different issues in the global economy. Have you recently experienced anything in your own community that was a factor from something that happened globally? Was this a good thing or bad? 4. You are now familiar with government and how it plays a role in our economy. What are the advantages and disadvantages of governmental involvement? What changes would you make to improve government’s role? 5. In order for North America to operate as healthy economy, what do individuals need to do to contribute to the success of the country? How is our economy impacted when people make bad financial decisions? anything helps, thank you
If the US decides to stop importing from China, how much will China suffer?
There are many very good answers here. I would like to point out that “stop importing from China” is a very vague rule. So what could you mean by that phrase? Let’s give two extreme scenarios:(1) You cannot import anything sold by a Chinese-domiciled company.This is very easy to get around. Neighbouring East Asian countries will benefit greatly because of their new ability to play middleman between China and USA. So company “McChinaman Limited” will sell to “Singapore Middleman Co” and then “Singapore Middleman Co” will sell to “USA Importer LLC”.China has FTAs (free trade agreements) with most countries in the Asia-Pacific region. So it’s pretty trivial for them to re-route the goods through a third party, and the third-party can get a fee for doing pretty much nothing at all.(2) You cannot import anything which has, in its supply chain (recursively, so to any depth of the supply chain), anything sold by a Chinese-domiciled company.This means you basically can’t import almost anything at all. That would massively debilitate the US economy. Keep in mind US-manufactured products often also contain Chinese-made parts in their supply chain.Therefore:Probably you need some rule about how much of the “value added” is done in China, or some other quantitative “line in the sand”.Hey guess what: China’s “value added” is often not that much! How much money do you think Foxconn makes from every sale of an iPhone? How much money do you think Apple makes?So your import ban is most likely to result in case (1).Conclusion:USA will suffer. China will suffer. Other countries (middlemen) will benefit. Go ahead USA, make us non-Chinese non-US people richer. We’re looking forward to it.
What is the impact of inflation on exports and imports?
Before answering impact of inflation I just want to elaborate meaning of inflation . In economics inflation use as tool to check money supply level in meraket .For example if the money supply increase in market, people start demanding for goods and services which cause hike in price .And when the money supply is low less demand of goods and services which lead deflation .Now impacts of inflationExports - Inflation leads reduction in exports due to goods and services prove more costlier in international market .Import - Because in inflation money supply increase in market which enhance purchasing power of people which lead increment in demand of goods and services .To fullfill these demands government start importing goods and services .