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What happens to total revenue when prices fall and demand is price inelastic?
Inelastic demand means that the demand changes very little as the price rises or falls. If prices drop and people don't buy any more of the item, total revenue declines.
Do people still trade?
yes people still trade you may even still have grandparents that trade
What statement describes economic activity in a recession?
Consumer Spending Declines
What happens when the level of imports is greater than the level of exports?
A trade deficit
How does scarcity impact personal financial decisions making?
Consumers must make trade-offs to buy what they need. Scarcity happens when the needs and wants of the people exceed available resources (land, labor and capital). It happens in every economy. As a result, people make trade-offs to get what they need. Consumers make decisions to give up one want/need to satisfy another.
What happens when a population reaches a steady state?
It then declines
What happens when a species over produces offspring?
they become over populated and the population declines
What happens when species over produce offspring?
they become over populated and the population declines
Are declines facts?
No, declines are not facts
What happens when you trade on Movie Star Planet?
you get to be that person that you trade with
What happens when you trade with Steven in Pokemon Heartgold?
Nothing happens you just trade him and he leaves and you go on with your Pokemon journey
When was The Penguin Declines created?
The Penguin Declines was created on 1967-01-18.
When did the slave trade finnish?
to be honest it was 1807 when the british government abolished the slave trade but it carried on to 1886 and still happens now there are still people in countries who are forced to be slaves!
How does the exchange rate affect the balance of trade?
If by that you mean what happens if one country's currency appreciates relatively to the rest of the world, then country's exports sell less (because they become more expensive for the foreigner), while its imports increase (because they are cheaper now for the domestic consumer); thus the balance of trade is decreased (because the country is spending more on imports relative to its sales of exports).
What happens if you trade your soul for a lifetime supply of polka dot underwear?
Nothing happens-becuase you can't. No kid has the power to trade your soul.
What happens as people age?
As people age, they may experience declines in physical abilities, such as diminished strength and flexibility. Cognitive functions, like memory and processing speed, may also decline. Additionally, there can be a higher risk of developing chronic health conditions like heart disease, arthritis, and dementia.
What happens to total revenue when prices fall and demand is price inelastic?
Inelastic demand means that the demand changes very little as the price rises or falls. If prices drop and people don't buy any more of the item, total revenue declines.
