Business, 17.01.2020 05:31 seanholmes91405

"inflation is when prices in a national economy increase, or the purchasing power of the dollar weakens on a continual basis."

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Answer from: nadiarose6366

True

Explanation:

In inflation, the cost of goods and services in a nation is increasing enormously, and the buying power of the money of that country is reducing .Inflation is a specificity of the degree at which an economy is improving the price level of a product over time.Inflation sometimes presented as a percentage gesture of a reduction in the buying power of the currency of a country.

different countries has different inflation rates.

Answer from: Quest

1 all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

Answer from: Quest

answer: marginal utility of the fourth brownie is 0.

explanation: marginal utility is the addtional utility gained from the consumption of one more unit of a good. it is given by,

$mu{n} = tu{n} -tu{n-1}$

so, marginal utility at the 4th unit will be given by

$mu{4} = tu{4} -tu{3}$

since, the values are not given here, you can simply find marginal utility at fourth unit by subtracting total utility at 3rd unit from total utility at 4th unit.

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