Category: Economics

➤ Why would the demand for the sports magazine likely be inelastic given a $20,000 income and $100 price?
$100 equals 0.5% of a $20,000 income, which is a very small budget share. Goods with tiny income shares tend to be less sensitive to price changes, so consumers often keep buying. Habit, brand loyalty, and few close substitutes further support inelastic demand, though close substitutes could change responsiveness.

➤ How did surveys measure who refused to take the threat seriously?
Polls used direct questions about perceived severity, agreement with statements that the virus was overblown, and self-reported behavior like masking or social distancing. Standard methods include random sampling, Likert scales, and demographic weighting. Timing, wording, and response bias affected estimates, so cross-survey comparisons require caution.

Which of the following is directly impacted by bird flu?a. Supply of chicken and eggsb. Demand for chickens and eggsc. Supply of products containing eggsd. Demand for products containing eggs

➤ How do right-wing totalitarian regimes suppress communist movements?
They use legal bans, arrests, and show trials to dissolve communist parties and leadership. Security forces and secret police implement surveillance, imprisonment, torture, and extrajudicial violence. Regimes control media and education to discredit leftist ideas, co-opt or crush labor unions, and employ economic incentives and repression to break grassroots organizing.