To an economist, a single market is associated with

A. a single group of closely related products.

B. a specific building where trade takes place.

C. all goods traded in a specific geographic region.

D. all buyers living in a specific geographic location.


A. a single group of closely related products.

Economics

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During the antebellum period, the U.S. used more economic output and resources than were domestically available during expansions and less during contractions. International trade assisted during these cyclical times

Indicate whether the statement is true or false

Economics

The Federal Deposit Insurance Corporation was created to ensure that savings and loan associations would be guaranteed as safe as banks

Indicate whether the statement is true or false

Economics

The market for smartwatches is becoming very competitive. The increase in competition in this market is an example of how the market responds to

A) changes in population.
B) increases in income.
C) changes in consumer tastes.
D) decreases in the price of smartphones (a substitute for the product).

Economics

Why is it safe to assume that national defense will always be provided by the government instead of the market?

What will be an ideal response?

Economics