The value of a commodity expressed in terms of money is known as - (1) Price (2) Utility (3) Value (4) Wealth

The value of a commodity expressed in terms of money is known as - (1) Price (2) Utility (3) Value (4) Wealth
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(1) Price Explanation: The exchange value of every commodity can be expressed in terms of money. This possibility has enabled money to become a medium for expressing values when the growing elaboration of the scale of values which resulted from the development of exchange necessitated a revision of the technique of valuation. When value is expressed in terms of money, it is called price. Thus, price can be defined as exchange value of a commodity expressed in terms of money.
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The value of a commodity expressed in terms of money is known as (1) Price (2) Utility (3) Value (4) Wealth

Description : The value of a commodity expressed in terms of money is known as (1) Price (2) Utility (3) Value (4) Wealth

Last Answer : Price

Elasticity of demand is the degree of responsiveness of demand of a commodity to a - (1) change in consumers' wealth (2) change in the price of substitutes (3) change in consumers' tastes (4) change in its price

Description : Elasticity of demand is the degree of responsiveness of demand of a commodity to a - (1) change in consumers' wealth (2) change in the price of substitutes (3) change in consumers' tastes (4) change in its price

Last Answer : (4) change in its price Explanation: The elasticity of demand, also known as price elasticity of demand, is the degree of responsiveness of demand to change in price. Its measure depends upon comparing ... demand is the ratio of percentage change in amount demanded to a percent-age change in price.

Elasticity of demand is the degree of responsiveness of demand of a commodity to a (1) change in consumers’ wealth (2) change in the price of substitutes (3) change in consumers’ tastes (4) change in its price

Description : Elasticity of demand is the degree of responsiveness of demand of a commodity to a (1) change in consumers’ wealth (2) change in the price of substitutes (3) change in consumers’ tastes (4) change in its price 

Last Answer : change in its price

The total utility from 9 units of commodity x is 20 and from 10 units is 15. Calculate the marginal utility from 10th unit. (1) 0.5 (3) 5 (2) -0.5 (4) -5

Description : The total utility from 9 units of commodity x is 20 and from 10 units is 15. Calculate the marginal utility from 10th unit. (1) 0.5 (3) 5 (2) -0.5 (4) -5

Last Answer : (4) -5 Explanation: Marginal Utility = Change in Total Utility / Change in number of Units consumed. The first component of the formula is to calculate the change in total utility. The second component of the marginal utility formula is the change in the number of units that have been consumed.

The term utility means - (1) usefulness of a commodity (2) the satisfaction which a commodity yields (3) the service which a commodity is capable of rendering (4) None of these

Description : The term utility means - (1) usefulness of a commodity (2) the satisfaction which a commodity yields (3) the service which a commodity is capable of rendering (4) None of these

Last Answer : (2) the satisfaction which a commodity yields Explanation: In economics, 'Utility,' refers to the total satisfaction received from consuming a good or service. It is usually applied by economists ... commodities that an individual or a society would accept to maintain a given level of satisfaction.

The Marginal Utility Curve slopes downward from left to right indicating - (1) A direct relationship between marginal utility and the stock of commodity (2) A constant relationship between marginal utility and the stock of commodity (3) A proportionate relation-ship between marginal utility and the stock of commodity (4) An inverse relationship between marginal utility and the stock of commodity

Description : The Marginal Utility Curve slopes downward from left to right indicating - (1) A direct relationship between marginal utility and the stock of commodity (2) A constant relationship between marginal ... stock of commodity (4) An inverse relationship between marginal utility and the stock of commodity

Last Answer : (4) An inverse relationship between marginal utility and the stock of commodity Explanation: The Marginal Utility Curve is a curve illustrating the relation between the marginal utility obtained from ... marginal (additional) benefit to the consumer falls; hence consumers are prepared to pay less.

The total utility from 9 units of commodity x is 20 and from 10 units is 15. Calculate the marginal utility from 10th unit. (1) 0.5 (2) –0.5 (3) 5 (4) –5

Description : The total utility from 9 units of commodity x is 20 and from 10 units is 15. Calculate the marginal utility from 10th unit. (1) 0.5 (2) –0.5 (3) 5 (4) –5

Last Answer : –5

The term utility means (1) usefulness of a commodity (2) the satisfaction which a commodity yields (3) the service which a commodity is capable of rendering (4) None of these

Description : The term utility means (1) usefulness of a commodity (2) the satisfaction which a commodity yields (3) the service which a commodity is capable of rendering (4) None of these 

Last Answer :  the satisfaction which a commodity yields

The Marginal Utility Curve slopes downward from left to right indicating (1) A direct relationship between marginal utility and the stock of commodity (2) A constant relationship between marginal utility and the stock of commodity (3) A proportionate relationship between marginal utility and the stock of commodity (4) An inverse relationship between marginal utility and the stock of commodity

Description : The Marginal Utility Curve slopes downward from left to right indicating (1) A direct relationship between marginal utility and the stock of commodity (2) A constant relationship between marginal ... stock of commodity (4) An inverse relationship between marginal utility and the stock of commodity

Last Answer : An inverse relationship between marginal utility and the stock of commodity

Demand curve can be derived from the law of diminishlng marginal utility on which of the following assumptions? (i) Utility can be measured in quantitative terms (ii) Utility of money is constant Of these statements: A.Only (i) is true B.Both (i) and (ii) are true C.Only (ii) is true D.Neither (i) nor (ii) is true

Description : Demand curve can be derived from the law of diminishlng marginal utility on which of the following assumptions? (i) Utility can be measured in quantitative terms (ii) Utility of money is constant Of these statements: A.Only ... ) and (ii) are true C.Only (ii) is true D.Neither (i) nor (ii) is true

Last Answer : B.Both (i) and (ii) are true

When price of a substitute of commodity falls, the demand for - (1) falls (2) remains unchanged (3) increases at increasing rate (4) rises

Description : When price of a substitute of commodity falls, the demand for - (1) falls (2) remains unchanged (3) increases at increasing rate (4) rises

Last Answer : (1) falls Explanation: Cross Price Effect refers to effect on the demand for a given commodity due to a change in the price of a substitute commodity. A change (increase or decrease) in the ... the given commodity (tea) also decreases. It shifts the demand curve of the given commodity towards left.

A demand curve will not shift: (1) When only income changes (2) When only prices of substitute products change (3) When there is a change in advertisement expenditure (4) When only price of the commodity changes

Description : A demand curve will not shift: (1) When only income changes (2) When only prices of substitute products change (3) When there is a change in advertisement expenditure (4) When only price of the commodity changes

Last Answer : (4) When only price of the commodity changes Explanation: In economics, the demand curve is the graph depicting the relationship between the price of a certain commodity and the amount of it that ... only when there is a change in other determinants of demand, other than price of the commodity.

The term 'Dumping' refers to - (1) The sale of a substandard commodity (2) Sale in a foreign market of a commodity at a price below marginal cost (3) Sale in a foreign market of a commodity just at marginal cost with too much of profit (4) Smuggling of goods without paying any customs duty

Description : The term 'Dumping' refers to - (1) The sale of a substandard commodity (2) Sale in a foreign market of a commodity at a price below marginal cost (3) Sale in a foreign market of a commodity just at marginal cost with too much of profit (4) Smuggling of goods without paying any customs duty

Last Answer : (2) Sale in a foreign market of a commodity at a price below marginal cost Explanation: Dumping is an international price discrimination in which an exporter firm sells a portion of its out-put in ... , incurring loss in the foreign market (International Economics by M. Maria. John Kennedy, p.122).

The price of a commodity is the same as (1) Average revenue (2) Total cost (3) Average cost (4) Total revenue

Description : The price of a commodity is the same as (1) Average revenue (2) Total cost (3) Average cost (4) Total revenue

Last Answer : (1) Average revenue Explanation: Average Revenue refers to revenue received per unit of output sold. It is the same as Price of the commodity. Average revenue can be obtained by dividing the total revenue by the number of units sold.

'Law of demand' implies that when there is excess demand for a commodity, then (1) price of the commodity falls (2) price of the commodity remains same (3) price of the commodity rises (4) quantity demanded of the commodity falls

Description : 'Law of demand' implies that when there is excess demand for a commodity, then (1) price of the commodity falls (2) price of the commodity remains same (3) price of the commodity rises (4) quantity demanded of the commodity falls

Last Answer : (3) price of the commodity rises Explanation: The Law of demand states that the quantity demanded and the price of a commodity are inversely related, other things remaining constant. That is, if ... of the commodity the price starts rising and it continues to rise till equilibrium price is reached.

Other things being equal, a decrease in quantity demanded of a commodity can be caused by – (1) a rise in the price of the commodity (2) a rise in the income of the consumer (3) a fall in the price of a commodity (4) a fall in the income of the consumer

Description : Other things being equal, a decrease in quantity demanded of a commodity can be caused by – (1) a rise in the price of the commodity (2) a rise in the income of the consumer (3) a fall in the price of a commodity (4) a fall in the income of the consumer

Last Answer : (1) a rise in the price of the commodity Explanation: In economics, the law states that, all else being equal, as the price of a product increases, quantity demanded falls; likewise, as the price of a product decreases, quantity demanded increases.

The difference between the price the consumer is prepared to pay for a commodity and the price which he actually pays is called (1) Consumer's Surplus (2) Producer's Surplus (3) Landlord's Surplus (4) Worker's Surplus

Description : The difference between the price the consumer is prepared to pay for a commodity and the price which he actually pays is called (1) Consumer's Surplus (2) Producer's Surplus (3) Landlord's Surplus (4) Worker's Surplus

Last Answer : (1) Consumer's Surplus Explanation: Consumer surplus is the difference between the maximum price a consumer is willing to pay and the actual price they do pay. If a consumer would be willing to pay ... price, then they are getting more benefit from the purchased product than they spent to buy it.

When the price of a commodity falls, we can expect - (1) the supply of it to increase (2) the demand for it to fall (3) the demand for it to stay constant (4) the demand for it to increase

Description : When the price of a commodity falls, we can expect - (1) the supply of it to increase (2) the demand for it to fall (3) the demand for it to stay constant (4) the demand for it to increase

Last Answer : (4) the demand for it to increase Explanation: In economics, the law of demand is an economic law, which states that consumers buy more of a good when its price is lower and less when its ... of good demanded by the consumer will be negatively correlated to the change in the price of the good

The excess of price a person is to pay rather than forego the consumption of the commodity is called - (1) Price (2) Profit (3) Producers' surplus (4) Consumer's surplus

Description : The excess of price a person is to pay rather than forego the consumption of the commodity is called - (1) Price (2) Profit (3) Producers' surplus (4) Consumer's surplus

Last Answer : (3) Producers' surplus Explanation: Producer Surplus' is an economic measure of the difference between the amount that a producer of a good receives and the minimum amount that he or she would be ... or surplus amount, is the benefit that the producer receives for selling the good in the market.

If the change in demand for a commodity is at a faster rate than change in the price of the commodity, the demand is - (1) perfectly inelastic (2) elastic (3) perfectly elastic (4) inelastic

Description : If the change in demand for a commodity is at a faster rate than change in the price of the commodity, the demand is - (1) perfectly inelastic (2) elastic (3) perfectly elastic (4) inelastic

Last Answer : (3) perfectly elastic Explanation: If quantity demanded changes by a very large percentage as a result of a tiny percentage change in price, then the demand is said to be perfectly elastic ... in this extreme case would be undefined but it approaches negative infinity as demand becomes more elastic.

The Law of Demand expresses - (1) effect of change in price of a commodity on its demand (2) effect of change in demand of a commodity on its price (3) effect of change in demand of a commodity over the supply of its substitute (4) (4) None of the above

Description : The Law of Demand expresses - (1) effect of change in price of a commodity on its demand (2) effect of change in demand of a commodity on its price (3) effect of change in demand of a commodity over the supply of its substitute (4) (4) None of the above

Last Answer : (1) effect of change in price of a commodity on its demand Explanation: The law of demand states the inverse relation that comes to exist of between price in one hand and quantity demanded on ... quantity demanded. In other words, the higher the price of a product, the lower the quantity demanded.

Extension or contraction of quantity demanded of a commodity is a result of a change in the - (1) unit price of the commodity (2) income of the consutner (3) tastes of the consumer (4) climate of the region

Description : Extension or contraction of quantity demanded of a commodity is a result of a change in the - (1) unit price of the commodity (2) income of the consutner (3) tastes of the consumer (4) climate of the region

Last Answer : (1) unit price of the commodity Explanation: Demand for a commodity refers to the quantity of the commodity that people are willing to purchase at a specific price per unit of time, other factors ... In other words, higher the price, lower the demand and vice versa, other things remaining constant.

)When percentage change in demand for a commodity is less than percentage change in its price, then demand is said to be - (1) Highly elastic (2) Inelastic (3) Relatively elastic (4) Perfectly inelastic

Description : )When percentage change in demand for a commodity is less than percentage change in its price, then demand is said to be - (1) Highly elastic (2) Inelastic (3) Relatively elastic (4) Perfectly inelastic

Last Answer : (2) Inelastic Explanation: When the percentage change in quantity demanded is less than the percentage change in price, then the demand for the commodity is said to be inelastic. Price elasticity of demand refers to the degree of responsiveness of quantity demanded to change in price.

The relationship between price of a commodity and the demand for it - (1) is a positive relationship (2) is an inverse relationship (3) They are independent of each other (4) They do not have any relationship

Description : The relationship between price of a commodity and the demand for it - (1) is a positive relationship (2) is an inverse relationship (3) They are independent of each other (4) They do not have any relationship

Last Answer : (2) is an inverse relationship Explanation: According to the Law of demand, consumers buy more of a good when its price is lower and less when its price is higher. It states that the quantity demanded and the prices of a commodity are inversely related, other things remaining constant.

The equilibrium price of a commodity will definitely rise if there is a/an: (1) increase in supply combined with a decrease in demand. (2) increase in both demand and supply. (3) decrease in both demand and supply. (4) increase in demand accompanied by a decrease in supply.

Description : The equilibrium price of a commodity will definitely rise if there is a/an: (1) increase in supply combined with a decrease in demand. (2) increase in both demand and supply. (3) decrease in both demand and supply. (4) increase in demand accompanied by a decrease in supply.

Last Answer : (4) increase in demand accompanied by a decrease in supply. Explanation: Price of a commodity is always determined by the forces of demand and supply in the market. The price at which ... equilibrium price definitely increases when there is an increase in demand combined with the decrease in supply.

A fall in demand or rise in supply of a commodity— (1) Increases the price of that commodity (2) decreases the price of that commodity (3) neutralizes the changes in the price (4) determines" the price elasticity

Description : A fall in demand or rise in supply of a commodity— (1) Increases the price of that commodity (2) decreases the price of that commodity (3) neutralizes the changes in the price (4) determines" the price elasticity

Last Answer : (2) decreases the price of that commodity Explanation: The four basic laws of supply and demand are: (1) If demand increases and supply remains unchanged, a shortage occurs, leading to a higher ... (4) If demand remains unchanged and supply decreases, a shortage occurs, leading to a higher price.

The demand for which of the following commodity will not rise in spite of a fall in its price? (1) Television (2) Refrigerator (3) Salt (4) Meat

Description : The demand for which of the following commodity will not rise in spite of a fall in its price? (1) Television (2) Refrigerator (3) Salt (4) Meat

Last Answer : (3) Salt Explanation: For certain goods called necessities, demand is not related to income. Demand for salt does not increase with the increase in income & does not decrease with the decrease in ... irrespective of income. The demand curve slopes downward for goods like salt, but it is inelastic.

Engel's Law states the relationship between - (1) quantity demanded and price of a commodity (2) quantity demanded and price of substitutes (3) quantity demanded and tastes of the consumers (4) quantity demanded and income of the consumers

Description : Engel's Law states the relationship between - (1) quantity demanded and price of a commodity (2) quantity demanded and price of substitutes (3) quantity demanded and tastes of the consumers (4) quantity demanded and income of the consumers

Last Answer : (4) quantity demanded and income of the consumers Explanation: Engel's law is an observation in economics stating that as income rises, the proportion of income spent on food falls, even if ... consumers increase their expenditures for food products (in % terms) less than their increases in income.

Price elasticity of demand shows the relationship between demand for a commodity and (a) price of other commodities (b) price of that commodity © tastes and preferences of the consumer (d) income of the consumer

Description : Price elasticity of demand shows the relationship between demand for a commodity and (a) price of other commodities (b) price of that commodity © tastes and preferences of the consumer (d) income of the consumer

Last Answer : (b) price of that commodity

The term ‘Dumping’ refers to (1) The sale of a sub-standard commodity (2) Sale in a foreign market of a commodity at a price below marginal cost (3) Sale in a foreign market of a commodity just at marginal cost with too much of profit (4) Smuggling of goods without paying any customs duty

Description : The term ‘Dumping’ refers to (1) The sale of a sub-standard commodity (2) Sale in a foreign market of a commodity at a price below marginal cost (3) Sale in a foreign market of a commodity just at marginal cost with too much of profit (4) Smuggling of goods without paying any customs duty

Last Answer : Sale in a foreign market of a commodity at a price below marginal cost

When price of a substitute of commodity ‘x’ falls, the demand for ‘x’ : (1) falls (2) remains unchanged (3) increases at increasing rate (4) rises

Description : When price of a substitute of commodity ‘x’ falls, the demand for ‘x’ : (1) falls (2) remains unchanged (3) increases at increasing rate (4) rises

Last Answer : falls

The price of a commodity is the same as (1) Average revenue (2) Total cost (3) Average cost (4) Total revenue

Description : The price of a commodity is the same as (1) Average revenue (2) Total cost (3) Average cost (4) Total revenue

Last Answer : Average revenue

The equilibrium price of a commodity will definitely rise if there is a/an : (1) increase in supply combined with a decrease in demand. (2) increase in both demand and supply. (3) decrease in both demand and supply. (4) increase in demand accompanied by a decrease in supply.

Description : The equilibrium price of a commodity will definitely rise if there is a/an : (1) increase in supply combined with a decrease in demand. (2) increase in both demand and supply. (3) decrease in both demand and supply. (4) increase in demand accompanied by a decrease in supply.

Last Answer : increase in demand accompanied by a decrease in supply.

A demand curve will not shift: (1) When only income changes (2) When only prices of substitute products change (3) When there is a change in advertisement expenditure (4) When only price of the commodity changes

Description : A demand curve will not shift: (1) When only income changes (2) When only prices of substitute products change (3) When there is a change in advertisement expenditure (4) When only price of the commodity changes

Last Answer : When only price of the commodity changes

Other things being equal, a decrease in quantity demanded of a commodity can be caused by (1) a rise in the price of the commodity (2) a rise in the income of the consumer (3) a fall in the price of a commodity (4) a fall in the income of the consumer

Description : Other things being equal, a decrease in quantity demanded of a commodity can be caused by (1) a rise in the price of the commodity (2) a rise in the income of the consumer (3) a fall in the price of a commodity (4) a fall in the income of the consumer

Last Answer : a rise in the price of the commodity

When percentage change in demand for a commodity is less than percentage change in its price, then demand is said to be (1) Highly elastic (2) Inelastic (3) Relatively elastic (4) Perfectly inelastic

Description : When percentage change in demand for a commodity is less than percentage change in its price, then demand is said to be (1) Highly elastic (2) Inelastic (3) Relatively elastic (4) Perfectly inelastic

Last Answer : Inelastic

A fall in demand or rise in supply of a commodity– (1) Increases the price of that commodity (2) decreases the price of that commodity (3) neutralises the changes in the price (4) determines the price elasticity

Description : A fall in demand or rise in supply of a commodity– (1) Increases the price of that commodity (2) decreases the price of that commodity (3) neutralises the changes in the price (4) determines the price elasticity

Last Answer : decreases the price of that commodity

The difference between the price the consumer is prepared to pay for a commodity and the price which he actually pays is called (1) Consumer’s Surplus (2) Producer’s Surplus (3) Landlord’s Surplus (4) Worker’s Surplus

Description : The difference between the price the consumer is prepared to pay for a commodity and the price which he actually pays is called (1) Consumer’s Surplus (2) Producer’s Surplus (3) Landlord’s Surplus (4) Worker’s Surplus 

Last Answer : Consumer’s Surplus

If the change in demand for a commodity is at a faster rate than change in the price of the commodity, the demand is (1) perfectly inelastic (2) elastic (3) perlectly elastic (4) inelastic

Description : If the change in demand for a commodity is at a faster rate than change in the price of the commodity, the demand is (1) perfectly inelastic (2) elastic (3) perlectly elastic (4) inelastic

Last Answer : perlectly elastic

The relationship between price of a commodity and the demand for it (1) is a positive relationship (2) is an inverse relationship (3) They are independent of each other (4) They do not have any relationship

Description : The relationship between price of a commodity and the demand for it (1) is a positive relationship (2) is an inverse relationship (3) They are independent of each other (4) They do not have any relationship

Last Answer :  is an inverse relationship

The demand for which of the following commodity will not rise in spite of a fall in its price? (1) Television (2) Refrigerator (3) Salt (4) Meat

Description : The demand for which of the following commodity will not rise in spite of a fall in its price? (1) Television (2) Refrigerator (3) Salt (4) Meat

Last Answer : Salt

‘Law of demand’ implies that when there is excess demand for a commodity, then (1) price of the commodity falls (2) price of the commodity remains same (3) price of the commodity rises (4) quantity demanded of the commodity falls

Description : ‘Law of demand’ implies that when there is excess demand for a commodity, then (1) price of the commodity falls (2) price of the commodity remains same (3) price of the commodity rises (4) quantity demanded of the commodity falls

Last Answer :  price of the commodity rises

When the price of a commodity falls, we can expect (1) the supply of it to increase (2) the demand for it to fall (3) the demand for it to stay constant (4) the demand for it to increase

Description : When the price of a commodity falls, we can expect (1) the supply of it to increase (2) the demand for it to fall (3) the demand for it to stay constant (4) the demand for it to increase

Last Answer : the demand for it to increase

The excess of price a person is to pay rather than forego the consumption of the commodity is called (1) Price (2) Profit (3) Producers’ surplus (4) Consumer’s surplus

Description : The excess of price a person is to pay rather than forego the consumption of the commodity is called (1) Price (2) Profit (3) Producers’ surplus (4) Consumer’s surplus

Last Answer : Producers’ surplus

The Law of Demand expresses (1) effect of change in price of a commodity on its demand (2) effect of change in demand of a commodity on its price (3) effect of change in demand of a commodity over the supply of its substitute (4) None of the above

Description : The Law of Demand expresses (1) effect of change in price of a commodity on its demand (2) effect of change in demand of a commodity on its price (3) effect of change in demand of a commodity over the supply of its substitute (4) None of the above

Last Answer : effect of change in price of a commodity on its demand

Extension or contraction of quantity demanded of a commodity is a result of a change in the (1) unit price of the commodity (2) income of the consumer (3) tastes of the consumer (4) climate of the region

Description : Extension or contraction of quantity demanded of a commodity is a result of a change in the (1) unit price of the commodity (2) income of the consumer (3) tastes of the consumer (4) climate of the region

Last Answer : unit price of the commodity

Engel’s Law states the relationship between (1) quantity demanded and price of a commodity (2) quantity demanded and price of substitutes (3) quantity demanded and tastes of the consumers (4) quantity demanded and income of the consumers

Description : Engel’s Law states the relationship between (1) quantity demanded and price of a commodity (2) quantity demanded and price of substitutes (3) quantity demanded and tastes of the consumers (4) quantity demanded and income of the consumers

Last Answer : quantity demanded and income of the consumers

In economic wealth is the stock of all those material and immaterial objects which……... (a) Are transferable ; (b) Have utility ; (c) Are scarce ; (d) All the three

Description : In economic wealth is the stock of all those material and immaterial objects which……... (a) Are transferable ; (b) Have utility ; (c) Are scarce ; (d) All the three 

Last Answer : ; (d) All the three 

Consumer gets maximum satisfaction at the point where - (1) Marginal Utility = Price (2) Marginal Utility > Price (3) Marginal Utility < Price (4) Marginal Cost = Price

Description : Consumer gets maximum satisfaction at the point where - (1) Marginal Utility = Price (2) Marginal Utility > Price (3) Marginal Utility < Price (4) Marginal Cost = Price

Last Answer : (1) Marginal Utility = Price Explanation: As per the law of diminishing marginal utility, the utility of each successive unit goes on diminishing as more and more units of a commodity are consumed. A ... for it. In this way, the consumer will get the maximum satisfaction and will be in equilibrium.

A price consumption curve, traces the utility maximizing combination of two goods when (a) the price of one good changes (b) the consumer’s preference change © the consumer’s income changes (d) the demand curve for one of the goods shifts rightward

Description : A price consumption curve, traces the utility maximizing combination of two goods when (a) the price of one good changes (b) the consumer’s preference change © the consumer’s income changes (d) the demand curve for one of the goods shifts rightward

Last Answer : (a) the price of one good changes