The law of demand relates primarily to the actions of consumers in response to changes in prices. Thus option (C) is correct.
What is demand?A demand of a product or a commodity is how much a consumer is willing and able to pay for a product at a given time.
The law of demand states the relationship between price and quantity demanded, ceterus paribus. It states that when the price of a product increases its demand decreases, other things remaining constant and vice versa.
The graphical representation of the law of demand is known as demand curve . When the tuition fees of a college falls then the demand for college enrollment will rise.
The law of demand relates primarily to the actions of consumers in response to changes in prices. Therefore, option (C) is correct.
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Two countries produce copper and lead. Country A can produce a maximum
of 300 tons of copper per day or 150 tons of lead. Country B can produce a
maximum of 400 tons of copper per day or 100 tons of lead. Which
statement best describes this situation?
A. Country Bhas a comparative advantage producing copper.
B. Country A has an absolute advantage producing copper and lead.
C. Country A has an absolute advantage producing copper.
D. Country Bhas a comparative advantage producing lead.
Answer:
A. Country B has a comparative advantage producing copper.
Explanation:
Comparative advantage is the capability of a firm or country to produce a good or service at a lower opportunity cost than rivals. It implies the country uses fewer resources to produce that commodity. Comparative advantage enables a country to have a higher output while using the same inputs as its competitors.
Country B can produce 400 tons of copper, while country A ability is 300 tons. Country B uses labor and materials more efficiently in copper production; hence it has a comparative
Answer:A
Explanation: got it right <3
Which of the following is the last step in the buying process?  A. Evaluate performance  B. Make purchase  C. Engage in search  D. Recognize need
Answer:
A. Evaluate performance
Explanation:
Evaluating a product's performance is the last stage of the buying process. The customer assesses the product's performance against expectations. Customers are either satisfied with the product or not.
Evaluating performance is also the post-purchase evaluation stage. Satisfied customers feel they made the right decisions. Marketers always ignore this last process, but it's very important. One way to create loyal customer is the contact customer after the purchase to check if they are happy with the product.
Answer:
A. Evaluate performance
Explanation:
The consumer decision-making process involves five basic steps. This is the process by which consumers evaluate making a purchasing decision. The 5 steps are problem recognition, information search, alternatives evaluation, purchase decision and post-purchase evaluation.