In a free market economy, the decisions of buyers and sellers are:

A. coordinated by the government.
B. random.
C. motivated by custom and tradition.
D. guided by prices.


Answer: D

Economics

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Economic growth is most likely to solve the problems of

a. environmental pollution. b. world poverty. c. emotional stress. d. social alienation.

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Supply-side economics concerns itself with the interaction between demand and supply, the price level, and real GDP.

Answer the following statement true (T) or false (F)

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In economics, people make decisions regarding consumption based on comparing

A) additional units of satisfaction with additional costs. B) average satisfaction with additional costs. C) average satisfaction with average costs. D) additional units of satisfaction with average costs.

Economics