Automobile manufacturers produce a range of automobiles such as sports utility vehicles, luxury sedans, pickup trucks, and compact cars. What fundamental economic question are they addressing by making this range of products?
A) Who to produce automobiles for? B) How to produce goods that consumers want?
C) What to produce? D) Why produce a variety of automobiles?
C
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The quantity demanded in a market depends on many things, but the concept of elasticity focuses on the effect of changes in the price of the good.
Answer the following statement true (T) or false (F)
What was the main cause for the reversal-of-fortune of many countries?
What will be an ideal response?
Countries where investment is relatively
A) productive should be net exporters of currently available output. B) unproductive should be net importers of currently available output. C) unproductive should be net exporters of currently available output. D) unproductive should be net exporters of future available output. E) unproductive should focus on their internal balance.
Which of the following was true of the United States before 1970? a. The government was not responsible for promoting employment, output, and purchasing power. b. Most macroeconomic instability was caused by changes in international oil prices
c. Most macroeconomic instability was caused by shifts of aggregate demand. d. Most macroeconomic instability was caused by the depreciation of the dollar. e. The government was responsible for using monetary policy to correct a depression.