Laurasia has identified the following goods as its market basket. Here are the prices of those goods over three years. Compute the cost of that market basket in all three years.

Explanation:

A Market Basket is used to calculate inflation overtime by tracking the change in prices of a specific and permanent number of goods and services.

The formula for calculating the market basket is;

Cost of Market Basket = ∑(Price of good * Basket Quantity of good)

2015

Cost of Market Basket = (25 * 0.4) + (2 * 18) + ( 4 * 12)

Cost of Market Basket = 10 + 36 + 48

Cost of Market Basket = $94

2016

Cost of Market Basket = (25 * 0.5) + (2 * 22) + ( 4 * 18)

Cost of Market Basket = 12.5 + 44 + 72

Cost of Market Basket = $128.50

2017

Cost of Market Basket = (25 * 0.6) + (2 * 20) + ( 4 * 15)

Cost of Market Basket = 15 + 40 + 60

Cost of Market Basket = $115

answer: heh

explanation:

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.