Business High School

The demand for this type of good rises when income falls and falls when
income rises.
O substitutes
o inferior
O normal
O complements

Answers

Answer 1

Answer:

o inferior

Explanation:

The inferior goods shown the inverse relationship between the demand and the income. If the demand of the goods is increased so the income would fall and if the demand of the goods fall so the income would rises

So this represent that the good is an inferior good

Hence, the second option is correct

Related Questions

Smart tips for selling to business customers include all the following except: a. Emphasize various benefits that meet the differing needs and interests of each member of the buying center b. Offer fresh insight and ideas in e-mails and other correspondence c. Develop a marketing mix to satisfy the needs of the organization as well as the needs of individual purchasing managers d. Show appreciation by offering desirable gifts to purchasing managers e. Explain how products and services will reduce the firm's risk

Answers

Answer:

c. Develop a marketing mix to satisfy the needs of the organization as well as the needs of individual purchasing managers.

Explanation:

In order to have smart selling in business, one needs to have an emphasis on the various benefits that are offered by the product to the client. Such as on the sales of A/C one needs to offer insights and ideas to the buying customers, show appreciation by providing gifts to the purchasing managers.Even explain how the products and services can help boost profit. Rather than developing a marketing plan to meet the need of the customers as it is not their concern.

Mill Company began operations on January 1, 20X1, and recognized income from construction-type contracts under different methods for tax purposes and financial reporting purposes. Information concerning income recognition under each method is as follows: Year Tax Purposes Book Purposes 20X1 $ 400,000 $ 0 20X2 625,000 375,000 20X3 750,000 850,000 Required: Assume the income tax rate is 21% in all years and that Mill has no other temporary differences. In its December 31, 20X3, balance sheet, what amount of deferred income taxes should Mill report

Answers

Answer:

Deferred tax asset balance on  December 31, 20X3 =   $115,500

Explanation:

The computation of the amount of deferred income taxes should Mill report is shown below:

Year   Tax purpose   Book purpose   Difference   Deferred tax book

20X1     $400,000          $0                $400,000        $84,000

20X2    $625,000     $375,000         $250,000        $52,500

20X3     $750,000     $850,000        ($100,000)        ($21,000)

Deferred tax asset balance on  December 31, 20X3 =   $115,500

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