Category: Economics

➤ Why does a fall in costs produce a curve shift rather than a movement along it?
Price changes cause movements along a supply curve. Cost changes are non-price factors, so they shift the entire curve. When costs fall, sellers can offer more at the same price, moving the curve right. When costs rise, the curve shifts left. Separate ‘quantity supplied’ (movement) from ‘supply’ (shift).

If a farmer buys a new tractor from John Deere for use on her cotton farm, it is included in GDP as a
durable consumption good.
a service.
part of private investment.
a nondurable consumption good.

➤ How do companies build strong customer relationships?
They collect and analyze customer data, personalize communications, and deliver consistent service across channels. Firms implement CRM platforms, loyalty programs, proactive support, feedback loops, and tailored offers. They measure engagement and lifetime value, and they listen and respond regularly to strengthen trust and encourage repeat purchases.

Executive orders:require government officials to resignrequire private citizens to do certain thingsrequire agencies to do certain thingsnone of the other choicesrequire businesses to pay taxes

➤ How do credible sources fit into the introduction?
Use credible sources in the introduction to establish context and authority with one or two brief references, such as a key study, statistic, or authoritative definition. Cite sparingly and summarize main findings. Reserve full literature review, detailed citations, and critical discussion for the body to support your thesis with depth and evidence.