The first number in any ordered pair is
a. the x-coordinate.
b. the y-coordinate.
c. the vertical location of the point.
d. the slope.
a
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Any deviation from the efficient scale of production would result in a(n): a. decreased marginal cost
b. increased marginal cost. c. increased average total cost. d. decreased average total cost.
An example of a good that is not rival in consumption is:
A. bottled water. B. electricity. C. a sports car. D. a paper clip.
The act of putting a new product on the market in order to make profits is called
A. invention. B. innovation. C. investment. D. development.
In general, a nation can enjoy a higher standard of living by ________ than by being self sufficient.
A. specialization and trading B. avoiding trade with other nations C. increasing its versatility D. taxing imported goods