If the quantity desired of something exceeds the amount available at zero price, that item is called
A) capital.
B) an economic good.
C) an intangible good.
D) a bad.
B
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Intellectual property refers to the ________ creations of ________ intelligence.
A) intangible; technical B) tangible; technical C) intangible; human D) tangible; human
Economic models are of limited use since they cannot be tested empirically
a. True b. False Indicate whether the statement is true or false
Restrictions that limit sugar imports, subsidies for the construction of sports stadiums, and federal spending on programs like the construction of an indoor rain forest in Iowa all provide examples of government programs
What will be an ideal response?
A potential negative effect of advertising for society is that it can:
A. be self-canceling and contribute to economic inefficiency. B. lower barriers to entry and undermine profits in the industry. C. reduce mutual interdependence and increase competition. D. be the major cause of price wars among firms in the industry.