The tasks performed by the chef at your favorite restaurant could be categorized as
A) a good.
B) an economic good.
C) a service or intangible good.
D) All of the above are correct.
D
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In Japan, residents pay for most routine and preventive medical care
Indicate whether the statement is true or false
If people took external costs like pollution into consideration:
A. they would consume less of the goods causing these externalities. B. they would act in a way that is optimal from a societal perspective C. the markets for these goods creating such externalities would generate greater surplus. D. All of these statements are true.
When theaters charge lower prices for matinee showing, it is not price discrimination, since it is more expensive to operate a theater during the day, as compared to the evening hours.
Answer the following statement true (T) or false (F)
Individuals are forced to make choices because
A. human wants are limited. B. the supply of resources is infinite. C. wants are unlimited and resources are scarce. D. resources are unlimited.