Answer:
C). I, II, and IV only
Explanation:
The Association of Southeast Asian Nations (ASEAN), the European Union (EU), and the North American Free Trade Agreement (NAFTA) are bodies that promote trade and economic cooperation among member countries. They are treaties that aim are accelerating economic and social integration by eliminating or minimizing restrictions on the movement of people and commodities across borders.
Opec is an association of oil-producing countries. Its objective is to have similar oil policies in member countries. Opec is a cartel-like group that aims at controlling international oil prices.
<span>the answers is 2,4,5,6</span>
Answer:
Increase by 5%.
Explanation:
Given that,
cross-price elasticity of demand between goods X and Y = 4
Percentage increase in consumption of good X = 20 %
cross-price elasticity of demand = Percentage change in quantity demanded for good X ÷ Percentage change in price of good Y
4 = 20 ÷ Percentage change in price of good Y
Percentage change in price of good Y = 20 ÷ 4
= 5%
Therefore, the price of good Y must be increase by 5% in order to increase the consumption of good X by 20 percent.
its not b. the periods net income to be understated
Answer:
c. many buyers and sellers.
Explanation:
A perfect market for competition is a market that has a high level of competition.
It has the following features -
1. With regard to the market, knowledge is great in this rivalry between producer and consumer.
2. Free entry, and exit
3. Deals with same or homogeneous products
4. The sellers and buyers are more in this market