All markets involve the following elements, except:
A. Demand or buyers
B. Face-to-face negotiation
C. Prices of goods and services
D. Supply or sellers
Answer: B
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Refer to Table 14-8. Which of the following is true?
A) Brawny Juice's dominant strategy is to select a high price. B) Power Fuel does not have a dominant strategy. C) Power Fuel's dominant strategy is to select a low price. D) Brawny Juice does not have a dominant strategy.
"The hotter it gets, the more water people drink." This statement implies that the relationship between temperature and water consumption must have: a. no relationship
b. a negative slope. c. a positive slope. d. either positive or negative slope.
The theory of relative backwardness
a. formulated by Rostow b. called for substitutions for missing preconditions c. explained the industrial revolution d. was an idea of Gerschenkron e. both b and d are correct
The French expression used by free-market advocates, which literally translates as "allow them to do," is
a. laissez-faire. b. je ne sais pas. c. si'l vous plait. d. tête-à-tête.