Economics is the study of how evenly goods and services are distributed within society
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
Often trade will not occur because
a. transaction costs are too high b. neither party has an opportunity cost c. the benefits to one party just equal the losses to the other party d. no one expects to gain from the trade e. the profits of the firm are excessive
A high HHI indicates that a market may be dominated by one large firm
Indicate whether the statement is true or false
The supply of loanable funds comes from anyone who has saved money and wants to lend it out
a. True b. False Indicate whether the statement is true or false
As long as a market is contestable, then even if it has only a few sellers, the
a. threat of new entrants will prevent the prices from rising above the competitive level. b. producers will be able to charge prices that are high enough to produce long-run economic profits. c. producers will not face new competition because the barriers to entry are high. d. market will never be expected to come close to the competitive result.