(Q007) There are a number of goods that, over time for a variety of reasons, transition from being a normal good to being an inferior good or from being an inferior good to being a normal good. One example is the flip phone. Prior to about 2010, more income for a household usually resulted in more flip phones being purchased. However, today flip phones are liable to be purchased by households that have experienced a reduction in income. How could this happen

How do you get a monthly budget spend down

On june 1 of the current year, chad wilson established a business to manage rental property. he completed the following transactions during june: opened a business bank account with a deposit of $28,000 from personal funds. purchased office supplies on account, $2,690. received cash from fees earned for managing rental property, $7,390. paid rent on office and equipment for the month, $3,310. paid creditors on account, $1,230. billed customers for fees earned for managing rental property, $6,130. paid automobile expenses (including rental charges) for the month, $740, and miscellaneous expenses, $370. paid office salaries, $2,330. determined that the cost of supplies on hand was $1,590; therefore, the cost of supplies used was $1,100. withdrew cash for personal use, $2,210. required: 1. indicate the effect of each transaction and the balances after each transaction: for those boxes in which no entry is required, leave the box blank. for those boxes in which you must enter subtractive or negative numbers use a minus sign. (example: -300) answer

Amarket that consists of all possible consumers regardless of their specific needs or wants is a