Only changes to the unadjusted cash (book) balance necessitate journal entries. Adjustments to the unadjusted bank balance are items that have already been recorded in the company's records, such as deposits in transit and outstanding checks. Thus, the right choice is true.
What is a journal entry?A journal entry is an act of keeping or making records of any commercial or non-commercial transaction.
Journal entries can capture one-time events or ongoing events like depreciation or bond amortization. Journal entries are frequently entered in a different module from accounts payable, which normally has its own sub-ledger that impacts the main ledger indirectly. As a result, journal entries immediately affect the general ledger account balances. A correctly documented journal entry includes the right date, amount(s) to be debited, amount to be credited, transaction narrative, and a unique reference number.
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you put money into an account and earn a real interest rate of 6 percent. inflation is 3 percent, and your marginal tax rate is 20 percent. what is your after-tax real rate of interest? group of answer choices
the after-tax real rate of interest is calculated by the fisher effect and is found to be 4.2%
The Fisher effect describes the relationship between the real and nominal interest rates and the expected rate of inflation. It also explains money's neutrality. As such, it is crucial in economics.
Fisher effect :
Real interest rate = nominal interest rate - inflation rate
6 = nominal interest rate - 3
Nominal interest rate = 9
Given that the marginal tax is 20%, the nominal interest rate realized will be:
9 - 20*9 / 100 = 7.2
Now, the real rate of interest =
7.2 - 3 = 4.2
The Fisher Effect, named after economist Irving Fisher, describes the relationship between inflation and both real and nominal interest rates.
According to the Fisher Effect, the real interest rate equals the nominal interest rate minus the expected inflation rate.
The Fisher Effect has been applied to the study of the money supply and global currency trading.
When the real interest rate is positive, it indicates that the lender or investor can outperform inflation.
When the real interest rate is negative, it means that the interest rate charged on a loan or paid on a savings account is not higher than the inflation rate.
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Which economic measure is the total dollar value of all final goods and services produced each year in a country?.
GDP measures the total dollar value of final goods and services produced each year in a country.
What is GDP?
An estimate of a nation's GDP can be used to determine the size and growth rate of an economy. A country’s GDP can be computed in three different methods, considering expenditures, production, or income, and it can be adjusted for population and inflation to give more detailed information.
Real GDP is a measure of a country’s GDP which takes into effect of inflation.
Nominal GDP measures the GDP using current prices and it is not adjusted by Inflation.
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a default happens when: multiple choice a borrower fails to pay back a loan according to the agreed-upon terms. a lender fails to allot money according to the terms set by the government. a bank fails to have enough cash on hand to give all depositors their money. all of these are considered defaults.
A default happens when a borrower fails to pay back the loan as given in the first option.
What exactly do you mean by a bank?A bank is a company that offers additional financial services in addition to dealing with money and its alternatives. A bank serves as a financial middleman by accepting deposits and making loans.
What exactly is a bank? What does one do?Although banks perform a number of different tasks, their primary duty is to gather deposits from people who have money, pool them, and then lend the money to people who need it. Banks serve as a go-between for depositors (who give the bank money) and borrowers.
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the manufacturing strategy in which the product is designed, engineered, and built to specifications only after the order has been received is called what? it is used when products are unique and extensively customized for the specific needs of individual customers. the manufacturing strategy in which the product is designed, engineered, and built to specifications only after the order has been received is called what? it is used when products are unique and extensively customized for the specific needs of individual customers. assemble-to-order (ato) engineer-to-order (eto) make-to-stock (mts) make-to-order (mto)
The manufacturing strategy in which the product is designed, engineered, and built to specifications only after the order has been received is called Engineer-to-order(ETO), Make-to-order(MTO)
The manufacturing strategy in which the product is designed, engineered, and built to specifications only after the order has been received is called Engineer-to-order, it is used when products are unique and extensively customized for the specific needs of individual customers.
The manufacturing strategy in which the product is designed, engineered, and built to specifications only after the order has been received is called Make-to-order, it is used when products are unique and extensively customized for the specific needs of individual customers.
Make-to-order (MTO), or made-to-reserve, is a business manufacturing method that commonly permits purchasers to purchase merchandise that might be customized to their specifications. it's far a manufacturing system in which the manufacturing of an item begins handiest after a confirmed client order is acquired.
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Which type of on-floor sales measurement includes sales per hour and gross margin?
A.
sales activity
B.
accounting-based
C.
customer relationship quality
D.
stakeholder satisfaction
The on-floor sales measurement that includes sales per hour and gross margin is the accounting-based sales measurement. Hence, Option B is correct.
What does sales measurement mean?
Data points known as sales metrics are used to track and assess a person's, group's, or organization's sales performance over time. In the broadest sense, sales metrics assist a company in assessing the accomplishment of its sales efforts and pinpointing potential improvement areas.
Sales metrics are employed in a variety of ways, including goal-setting, problem-solving, designing incentive programmes, commission and bonus calculations, and more.The accounting-based sales measurement is the on-floor sales metric that accounts for gross margin and sales per hour.
Therefore, Option B is correct.
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what monopolositc competitors demand curve is more elasticticity than a pure competitor or a pure monopolouist
The demand curve of a monopolistic competitor is more elastic than that of a pure rival and less elastic than that of a pure monopolist. In contrast to a monopoly where there are no near replacements, a monopolistically competitive firm's demand curve is substantially more elastic since substitutes exist.
Does monopolistic competition have an elastic demand curve?In monopolistic competition, a firm's demand curve is downward sloping, as opposed to perfect competition, in which the firm's demand curve is fully elastic. This is because businesses have the power to raise prices without alienating their whole customer base. A monopolistic competitor faces a downward-sloping demand curve, not a flat one, which allows it, like the monopoly, to raise prices without completely losing market share.
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what does a reductive process mean in sculpting? group of answer choices removing the marble block from the mountain tools get smaller and finer as the process nears completion once material has been removed it cannot be replaced polishing the finished piece with leather
A reductive process in sculpting means B) tools get smaller and finer as the process nears completion.
Reductive art is created through a process meant to reduce, consolidate, and simplify. By stretching the definition of the word, you may conclude that Michelangelo's marble sculpture David is reductive in some ways. After all, it resulted from the altering of the original form.
Reducing is the process of employing a pantograph to reduce a huge sculpture to a smaller one or to reverse the enlargement process.
The oldest type of sculpting is subtractive, which involves taking material out to make a finished piece, as in stone or wood carving. Additive sculpture, in its simplest form, is the technique of creating sculpture by adding materials to the object.
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a leading beverage company sells its signature soft drink brand in vending machines for $0.78 per 12 oz. can. a vending machine has monthly fixed costs of space rental, energy consumption, and capital depreciation of $147. variable cost for a can of soda is $0.41. the regional sales manager wondered what the breakeven volume would be at this higher price?
The breakeven volume would be at this higher price will be 47.43%.
The selling price (S) is $0.78 per can and the variable Cost (V) is $0.41 per can'. Contribution margin = S-V = 0.78 - 0.41 = $0.37 per can. Contribution Margin percentage = 100*Contribution Margin/Selling Price = 100*0.37/0.78 = 47.43%.
The amount of your product you must make and sell to break even on production expenses is known as the breakeven volume. The quantity of units that must be manufactured and sold in order to create a sufficient contribution margin to pay fixed expenses is known as the breakeven level.
The Contributions Margin is a crucial idea in this approach. The denominator in the calculation above is "selling price less the variable costs per unit," or contributions margin.
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Match the different formal groups with their descriptions or situations.
a Employees in the HR department of an
organization interact through an online
social medium.
b Lee, Haider, Gary, and Sophia are put
together in a team to address real-timeclient issues.
c Angela is the chief editor in a publication,
and has three sub-editors reporting to her.
1 command groups
2 virtual groups
3 task groups
Command structures: In a publication, Angela is the chief editor and is subordinate to three other editors.
What was Employees in the HR department of an organization ?Employees in an organization's HR department communicate with one another via virtual groups on social media.
Lee, Haider, Gary, and Sophia are placed in task groups.
Addressing client issues in real time as a team .
Command groups are teams made up of employees at various levels. Here, a chief editor collaborates with subeditors. On the organizational structure, chief editors are above sub-editors.
Virtual groups are those that don't hold regular meetings. They connect online with a platform like Soon or MS Teams.
Task groups are formed when people are assembled to complete a task or generate a product.
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corporate stocks and bonds meet the requirements to be among the items of property characterized as goods under the ucc. True or False
The statement " corporate stocks and bonds meet the requirements to be among the items of property characterized as goods under the ucc. " Is false Option B
What are corporate stocks?Generally, Different forms of corporate stocks each denote a different level of ownership interest in a firm. You can also hear this referred to as shares or stocks.
Before making an investment in stocks, it is essential to determine whether or not the company in question has more than one kind of share. A collection or kind of stock that all have the same rights is referred to as a class.
According to the statement, "corporation stocks and bonds fulfill the qualifications to be among the articles of property defined as goods under the ucc," these assets are qualified to be included in this category. Is it not true that Option B
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omar and penn want to discharge their contract by executing a new agreement with performance different from what they originally promised. they can best accomplish this by
They can best accomplish Discharge of contract by an accord and satisfaction
The term discharge of contract refers to the termination of the parties' contractual relationship. When a contract ceases to operate, the rights and obligations created by the parties are said to have been discharged. A contract can be discharged if the parties mutually agree to end it. Furthermore, there are various methods for contract termination.
The following methods are used to discharge a contract:
Discharge by Performance
Discharge by Agreement or Consent
Discharge by Performance Impossibility
Discharge by Time Lapse
Discharge by Operation of Law
Discharge by Breach of Contract
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a decreasing-cost industry is one in which firms experience ___ costs as their industry . (check all that apply.)
The decreasing-cost industry is one in which firms experience higher; contract costs as their industry.
The industry of a reducing fee is an industry where the expansion of enterprise output decreases the company's price curves by using the entry of recent companies. For instance, whilst the manufacturing of digital components expands so the charge of laptop chips is probably decreased.
The reducing-value industry refers to industries that revel in lower in average expenses after they develop larger. Or, in other words, the industry reports external economies of scale. The enterprise's long-term supply curve is downward sloping.
An increasing-value enterprise is an enterprise whose fees for manufacturing go up as extra companies compete. while there are only a few gamers in that enterprise, the fees for manufacturing are low. however, when many freshmen enter the scene, demand for sources rises. In this enterprise, sources are restrained, i.e., finite.
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with the decentralization post-fordism movement, post-industrial cities are over saturated with abandoned factories, housing, and other amenities. the major question that cities, like detroit, are facing is how a once populous city can shrink appropriately. what should these rustbelt cities do with all the vacant buildings without creating redundant infill that does not have the population to support it?
Answer:
Small batch production, specialized products
-City of Melbourne, infill, provided amenities, housing, walkability
Explanation:
barnard bike shop sells a bicycle to a customer for $600. barnard offers to sell three tune-ups over the next three years for a total price of $150. the customer decides to purchase the tune-ups and pays a total of $750. barnard uses the adjusted market approach. required: allocate the transaction price to the performance obligations
In the adjusted market approach, prices are divided between goods and services based on how much a customer is willing to pay for them.
The customer is willing to pay 600 for a bicycle and 150 for maintenance. Therefore, these should be divided as follows: bicycle tune-ups $150 and bicycle sales $600
What exactly is an adjusted market strategy?
The entity employs the adjusted market assessment strategy by assessing the market in which it sells products or services and estimating the price that a customer in that market would be willing to pay for those products or services.
How is adjusted market value calculated?
The MVA would be calculated by subtracting one from the total after adding one to the purchase index, dividing that number by one, and adding one to the index for today when you withdraw. Therefore, you would have a negative 1.9% return if the purchase index were 2% and the current index at the point of withdrawal is 4%.
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tanning company analyzes its receivables to estimate bad debt expense. the accounts receivable balance is $276,000 and credit sales are $1,000,000. an aging of accounts receivable shows that approximately 7% of the outstanding receivables will be uncollectible. what adjusting entry will tanning company make if the allowance for doubtful accounts has a credit balance of $3,000 before adjustment?
Bad Debt Expense 17,000 adjusting entry will tanning Company makes allowance for Doubtful Accounts 17,000.
An allowance is a quantum of plutocrats given or distributed generally at regular intervals for a specific purpose. In the environment of children, parents may give an allowance to their child for their eclectic particular spending.
Everyone, including scholars, has a commodity called a Personal Allowance. This is the quantum of plutocrats you are allowed to earn each duty time before you start paying Income Tax. For the the2022/23 duty time, the Personal Allowance is£,570. still, you generally will not have to pay any income duty, If you earn lower than this. However, benefits in kind and vittles exceed the maximum quantities, also the excess constitutes a tested stipend for your hand, If allowances. still, you can also conclude to indicate this as final tax stipend.
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the law requiring that toys and infant products be tested before sale is called the: group of answer choices child safety act. strong product safety bill. consumer product safety improvement act. uniform safety testing bill.
The law requiring that toys and infant products be tested before sale is called the uniform safety testing bill. By providing a discount to a product that is priced "high," buyers are more inclined to purchase the goods because customers believe it is a good deal.
In essence, the initial high price establishes the product's bill value to customers. Major shops such as Macy's and Nordstrom, as well as niche brands such as Adidas and Nike, use high-low pricing widely. They set high pricing but then provide lower rates to customers on a regular basis through specials, promotions, or the coupons.
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darnold is developing a business message that he hopes will convince his colleagues to keep common areas clean. he wants to focus on employees' shared efforts, interests, and problems. which voice should darnold use?
Darnold is developing a business message that he hopes will convince his colleagues to keep common areas clean. He should use we-voice.
We-voice is a useful tool for concentrating on shared initiatives, passions, and issues. It works especially effectively for internal company communications.
The we-voice stresses the writer's common interests with the reader in a business communication. Although voice can be difficult to define, it is simple to identify.
We frequently say, "Don't use that tone of voice," in reaction to sarcastic, irate, or other improper tones. We might also reply to an email adversely and in an unprofessional manner.
Contrarily, a professional voice reflects favorably on the topic, audience, and writer and generates a favorable reaction from the reader. Make use of everyday language and stay away from negativity to develop this voice.
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A performance report shows that the planning revenue was $240,000, the flexible budget revenue was $225,000, and actual revenue was $230,000. The activity variance is $_______.
A performance report shows that the planning revenue was $240,000, the flexible budget revenue was $225,000, and actual revenue was $230,000. The activity variance is $Unfavourable.
Activity variance is another name for the discrepancy between a project’s actual and planned progress.Numerous factors can affect the frequency of activity variance. Accurate estimations and predictions, insufficient resource planning and management, and the human element are other causes of activity variation. The activity variation with the specified planning income and fixed budget revenue is unfavourable by $15,000 dollars.An activity variance is the difference between what wasThe budgeted flexible revenue reflects what could have been reached but wasn’t, and the additional actual revenue received represents the revenue variance. expected and what really occurred during a project.
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belinda wants to sign up for a streaming service to watch movies and other programs. after much thought, she decides to subscribe to netflix. shortly after having done so, belinda hears her friends talking about a great series they are watching on amazon prime. belinda now wonders whether she made the right decision. what part of consumer behavior does this represent?
Answer: Cognitive Dissonance
Explanation: This is the correct answer, I found it on Quizlet.
a man and his neighbor owned homes on adjacent lots in a subdivision. the subdivision's recorded restrictions did not prohibit detached storage sheds, and several homeowners in the subdivision had placed such sheds in their backyards. because the man and the neighbor thought the sheds were unsightly, they both agreed in writing not to place detached storage sheds in their respective yards. their agreement was drafted in recordable form and stated that it was enforceable by and against all assignees, heirs, and successors. the agreement was promptly recorded. three years later, the neighbor gave his home to his daughter. shortly after moving into the home, the daughter learned of the restriction. she informed the man that she planned to put a detached storage shed in her backyard, claiming that the restriction was not enforceable against her. does the man have the right to enjoin the neighbor's daughter from placing a detached storage shed in her yard?
The man can enjoin the daughter from building the storage because the restriction is binding on the daughter because she is a successor of the previous owner.
Successor:
Successor means a person who has a job, position, or title after someone else simply said that someone who succeeds another person.
Given,
A man and his neighbor owned homes on adjacent lots in a subdivision. , And they both agreed in writing not to place detached storage sheds in their respective yards. They done their agreement was drafted in recordable form and stated that it was enforceable by and against all assignees, heirs, and successors and agreement was promptly recorded. After three years later, the neighbor gave his home to his daughter. And she shortly after moving into the home, the daughter learned of the restriction. Now, she claimed the man that she planned to put a detached storage shed in her backyard, claiming that the restriction was not enforceable against her.
Here we need to find does the man have the right to enjoin the neighbor's daughter from placing a detached storage shed in her yard.
While we looking into the give question we have identified that the agreement is signed and register. And it will be enforceable against all assignees, heirs, and successors of the assignees.
Therefore, the man can have the right to enjoin the neighbor's daughter from placing a detached storage shed in her yard.
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1. manufacturers normally establish standard costs for . direct materials direct labor factory overhead all of these choices are correct. 2. standards that can be attained with reasonable effort are known as standards. theoretical normal ideal none of these choices are correct.
Manufacturers normally establish standard costs for direct materials direct labor as well as factory overhead. Standards that can be attained with reasonable effort are termed Normal.
So, the correct options are 1. D & 2. B.
When creating a budget, the costs are typically calculated on two different scales: the total dollar amount needed to create an income statement and the cost per unit. A standard cost is what is charged per unit. The costs per unit can be further broken down into the anticipated quantity and cost of materials per unit, the anticipated number of hours and cost per hour for direct labor, and the anticipated overall overhead costs and a method for allocating those costs to each unit.
When calculating the standard amount, waste or spoilage must be taken into account within the anticipated amount of materials. Normal standards signify effective performance thresholds that can be reached in typical operating environments. When properly established, normal standards ought to be demanding but doable.
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zoe company reports the following for its overhead cost for the year. activity budgeted cost budgeted activity usage engineering support $ 98,000 70 design changes electricity 136,000 3,400 machine hours setup 210,000 350 setups compute the activity rate for engineering support using activity-based costing.
The activity rate for engineering support using activity-based costing is $1400.
What is an activity-based costing rate?An activity-based costing rate is calculated by allocating indirect costs to a cost pool, totaling the costs in that cost pool, and then dividing the total cost pool by the cost driver. Activity rates are the allocation rates used in activity-based costing to assign overhead costs to the product manufactured.
For each activity cost pool, an activity rate is calculated using an appropriate activity driver as an allocation base. ABC is a costing method that identifies an organization's activities and assigns the cost of each activity to all services and products based on their actual consumption. As a result, when compared to traditional costing, this model assigns more indirect costs (overhead) to direct costs.
Activity rate for engineering support will be:
= Budgeted cost / Budgeted activity usage
= 98000 / 70
= 1400
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bob just closed on his investment property. he's already identified a replacement property that he'll be exchanging into by using a 1031 tax-deferred exchange. how many days does he have to close on his replacement property?
According to the 1031 tax deferred exchange, it takes 180 days does he have to close on his replacement property.
1031 tax deferred exchange:
1031 deferred exchange states that "it allows you to defer capital gains taxes when selling a property, as long as the proceeds are used toward a similar investment within a certain time frame".
Given,
Bob just closed on his investment property. he's already identified a replacement property that he'll be exchanging into by using a 1031 tax-deferred exchange.
Here we need to find the number of days does he have to close on his replacement property.
According to the definition of 1031 deferred exchange, the investors who want to use the 1031 tax-deferred exchange must identify the property within 45 days and close within 180 days.
So, it take 180 days to close on his replacement property.
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which of the following general journal entries would be used to recognize $7,500 of uncollectible accounts expense under the direct write-off method? multiple choice account title debit credit accounts receivable 7,500 uncollectible accounts expenses 7,500 account title debit credit uncollectible accounts expenses 7,500 allowance for doubtful accounts 7,500 account title debit credit uncollectible accounts expenses 7,500 accounts receivable 7,500 account title debit credit allowance for doubtful accounts 7,500 uncollectible accounts expenses 7,500
When a transaction is recorded, the allowance method debits bad debt expenditure and credits a contra-asset account called Allowance for Uncollectible Accounts in $75,00.
How are uncollectible accounts entered into the system?When an account belonging to a certain client is determined to be uncollectible, the journal entry to write off the account is: A credit to Accounts Receivable (to eliminate the amount that will not be collected) A debit to Allowance for Doubtful Accounts (to reduce the Allowance balance that was previously established).Receivables, loans, and other debts with a slim probability of being repaid are referred to as accounts uncollectible. A debt may become impossible to collect for a variety of reasons, such as the debtor's bankruptcy, an inability to locate the debtor, the debtor's fraud, or a lack of adequate documents to support the debt.To learn more about Uncollectible Accounts refer to:
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in december, both the price of christmas trees increases and the quantity of christmas trees sold increases. is this a violation of the law of demand? explain why or why not.
In December, both the price of Christmas trees increases and the quantity of Christmas trees sold increases. This is a violation of the law of demand.
What is Law of Demand?
One of the most fundamental concepts in economics is the law of demand. It explains how market economies distribute resources and set the prices of goods and services that we see in daily transactions by combining the law of supply.
According to the law of demand, the quantity bought varies inversely with price. In other words, the quantity demanded decreases as the price increases. Because of declining marginal utility, this happens.
Economics is the study of how people make use of scarce resources to satisfy endless demands. These limitless wants are the focus of the law of demand.
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after hugo chavez became president of venezuela, the government abruptly took over 60 domestic and foreign oil field service companies. this is an example of .
Over 60 domestic and international oil field service companies were abruptly taken over by the Venezuelan government after Hugo Chavez became president. Expropriation can be seen in this situation.
The government of a home nation restricts foreign investment because it lacks foreign currency.
What are some examples of tools that nations use to impose trade protectionism?Tariffs, subsidies, quotas, and currency manipulation are the four main tools of trade protectionism.
What changed for the oil industry under Chavez?His decision to fire thousands of PDVSA employees who had participated in a 2002–2003 industry strike stripped the company of significant technical expertise. Through an alliance known as Petrocaribe, Chavez began providing subsidized oil to several nations in the region, including Cuba, in 2005.
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a manufacturer does not need to inspect and test any purchased components used in the final product to avoid product liability.
False: In order to avoid product responsibility, a manufacturer is not required to check and test any purchased components utilized in the finished product.
Which argument in a strict product liability case asserts that a manufacturer is not required to alert customers to risks that are widely recognized?Intelligent User: The manufacturer is not required to notify specific consumers if they are aware of a specific risk or should be aware of it.
What body of law underlies product liability?Product liability lawsuits are typically brought under the doctrines of negligence, strict liability, or warranty breach and are based on state law. Additionally, each state will have a set of commercial statutes that are based on the Uniform Commercial Code and contain warranty guidelines that affect product liability.
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consider the capm. the risk-free rate is 3%, and the expected return on the market is 15%. what is the expected return on a stock with a beta of 1.2?
17.4% is the expected return on a stock.
Expected return=risk free rate+beta*(market rate-risk free rate)
=3+1.2*(15-3)
which is equal to
=17.4%
Inventory includes all the stocks with the aid of which ownership of a business enterprise or employer is split. A unmarried proportion of the stock approach fractional possession of the business enterprise in share to the whole variety of stocks.
Stocks represent ownership in a publicly traded corporation. whilst you buy a agency's stock, you become element-owner of that corporation. as an instance, if a organisation has one hundred,000 shares, and you buy 1,000 of them, you very own 1% of the organization.
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copy equipment was acquired at the beginning of the year at a cost of $72,000 that has an estimated residual value of $9,000 and an estimated useful life of 5 years. it is estimated that the machine will output an estimated 1,000,000 copies. this year, 315,000 copies were made. what is the units-of-output depreciation for the year?
According to the given information, the units-of-output depreciation for the year is $19845
Given:
Purchase price = $72,000
Residual value = $9,000
Useful life = 5 years
a) Depreciable cost = $72,000 - $9,000 = $63,000
b) Depreciation rate = Depreciation expense / Depreciable cost
Depreciation expense = [tex]\frac{63,000}{5}[/tex] = $12,600
Depreciation rate = [tex]\frac{12,600}{6,300}[/tex] × 100 = 20%
c) Units of output method =
Depreciation per copy of output = [tex]\frac{63,000}{1,000,000}[/tex] = 0.063 per copy
Depreciation in the current year = $0.063 × 31,5000 = $19,845
The accounting technique of spreading out the cost of a tangible asset over its useful life is known as depreciation. The amount of depreciation shows how much of an asset's value has been utilized. By purchasing assets over a predetermined period of time, it enables businesses to generate income from the assets they own.Comparable to amortization, which takes into account the increase in value of intangible assets over time, is depreciation.Learn more about Depreciation, here
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would you consider the price elasticity of demand for toilet paper to be elastic or inelastic? why?2. what are some of the non-price determinants (factors) of demand and non-price determinants (factors) of supply for toilet paper?3. what are some of the determinants of supply for toilet paper?4. what do you feel were the most impactful contributing factors to the toilet paper shortage of 2020?
Relatively inelastic consider the price elasticity of demand for toilet paper to be elastic or inelastic.
Relatively inelastic demand is one when the percentage change produced in demand is less than the percentage change in the price of a product. For example, if the price of a product increases by 30% and the demand for the product decreases only by 10%, then the demand would be called relatively inelastic.
Relatively inelastic demand means that there will be more change in the price of a good or service than in the demand for that good or service.
Electricity, gas, oil, and water are all relatively inelastic because consumers rely on these as necessities rather than luxuries.
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