Ask Question
BusinessBusiness
2 November, 17:30

How does the percentage of your budget you spend on a good affect it's elasticity why is this the case?

+4
Answers (1)
  1. 2 November, 18:09
    0
    The greater the percentage of your budget, the more elastic a person becomes, meaning that they are more price sensitive and small increases in price will affect your decision to purchase. The things will higher percentage of budget spending are usually bigger items and small changes in price can affect a person's discretionary money for the rest of their expenses.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “How does the percentage of your budget you spend on a good affect it's elasticity why is this the case? ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Lewis Company began operations on February 1, 2016, and experienced the following events during the year: 1. Earned $300,000 of revenue on account. 2. Collected $250,000 cash from accounts receivable. 3. Paid $110,000 cash for salaries expense. 4.
Answers (1)
Warner Company's year-end unadjusted trial balance shows accounts receivable of $113,000, allowance for doubtful accounts of $740 (credit), and sales of $420,000. Uncollectibles are estimated to be 1.50% of accounts receivable. 1.
Answers (1)
Hair World is considering a contract to sell merchandise to a hair salon chain for $16,000. This merchandise will cost Hair World $10,480.
Answers (1)
What does a victim do in court?
Answers (1)
When Char's outside basis in the Toleffson Partnership is $704,000, the partnership distributes to her $122,000 of cash, a package of accounts receivable (fair market value of $250,000, inside basis to the partnership of $0), and a parcel of land
Answers (1)
New Questions in Business
A company pursuing the differentiation or focused differentiation strategy would tend to: Group of answer choices develop flexible systems that allow rapid response to customers' changing needs. develop and maintain cost-effective MIS operations.
Answers (1)
Suppose that your tuition to attend college is $14,000 per year and you spend $5,000 per year on room and board. If you were working full time, you could earn $26,000 per year. What is your opportunity cost of attending college? A. $19,000 B.
Answers (1)
If government tax policy requires Jane to pay $25,000 in taxes on annual income of $200,000 and Mary to pay $10,000 in tax on annual income of $100,000, then the tax policy is:
Answers (1)
Angel wants to become a successful brewer. He analyzes the target market for beer and finds that there is a market niche for gluten-free beer. Angel considers the types of markets he can target with his beer.
Answers (1)
Patel Company has an inexperienced accountant. During the first 2 weeks on the job, the accountant made the following errors in journalizing transactions. All entries were posted as made. 1.
Answers (1)
Home » Business » How does the percentage of your budget you spend on a good affect it's elasticity why is this the case?
Sign Up Forgot Password?