Answer:
Question 12. Credit
Question 13. None of the above
Question 14. Income Elasticity of Deman
Explanation:
Q12:
I am not 100% sure on this one, margin seems to be a definition for paying very little or a small percentage on money to be deposited/paid.
During the 1920s, many people bought on margin, a process whereby the buyer pays as little as 10% of the purchase price of the stock and borrows the rest from a broker (a person who buys and sells stock or bonds for the investor).
Loans were the same as now, the bank would give you the money but there will be interest. You would eventually pay the loan amount plus interest back.
Credit in the 1920s was a popular thing, when it first 'came out' many people who couldn't buy automobiles due to price would buy automobiles outright with credit and then have to pay every month with interest.
I think credit would make the most sense for this question.
Q13:
PES = percentage change in quality supplied / percentage change in price
or
PES = %⛛ Qs / %⛛ P
Q14:
Income Elasticity of Demand (YED) is defined as the responsiveness of demand when a consumer's income changes. The higher the income elasticity, the more sensitive demand for a good is to changes in income.
