Demand is based on:
a. desires, regardless of ability to pay.
b. needs and wants, and the ability to pay.
c. what supplies can provide.
d. government calculations.
b. needs and wants, and the ability to pay.
Demand is based on needs and wants, and the ability to pay.
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Describe the Clayton Act
What will be an ideal response?
According to the National Bureau of Economic Research, the recession that began in December 2007
A) lasted 12 months. B) lasted 18 months. C) lasted 27 months. D) did not end until December 2011.
Suppose that a consumer is at an optimum consuming A and B. If the price of A falls, then to get to a new equilibrium the consumer must
A) purchase less A and more B. B) purchase less B and less A. C) purchase more A. D) purchase more B.
Refer to the information provided in Figure 8.7 below to answer the question(s) that follow. 
Figure 8.7 Refer to Figure 8.7. If Buffy gives 17 perms per day, her total revenue is
A. $3. B. $51. C. $153. D. $204.