Segmenting based on lifestyle and social class is categorized as
Sociodemographic
Psychographic
Cohort
Usage
Psychographic
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When competition is present and private ownership rights are clearly defined and securely enforced by the legal system, business firms will have a strong incentive to
a. innovate and develop better products and lower cost production methods. b. spend time attempting to plunder (take) the resources of others. c. engage in wasteful activities that increase the cost of producing goods and services. d. use resources during the current period rather than conserving them for the future.
Refer to Figure 8.9. If the market price of hay falls to $18, then to maximize profits this farmer should produce A) 350 bales of hay. B) 500 bales of hay. C) 750 bales of hay. D) a level of output that is indeterminate from this information
The figure below shows the supply and demand curves for oranges in Smallville. 
What is the marginal cost of producing the tenth pound of oranges?
A. $4 B. $2 C. $5 D. $3
Based on the transactions in the above table, what is the change in the U.S. current account balance?
A) $30,000 B) $31,000 C) -$32,500 D) -$32,700