Which of the following activities is NOT included in the production process?
A) determining the value of the goods
B) making the goods
C) packaging the goods
D) transporting the goods
Answer: A
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A defendant forced to pay punitive damages must pay the plaintiff
a. the exact amount of actual damage. b. more than the amount of actual damage. c. less than the amount of actual damage. d. nothing.
If Big City Cameras advertises a 90 day low-price guarantee that will refund any of its customers the difference between the price they paid for a camera and a lower price offered by Big City Cameras for the same camera, this is an example of ________.
A) a meet-or-release clause B) a meet-the-competition clause C) price visibility D) a most-favored-customer clause
A "trade deficit" occurs when
A) we sell more to one country than another. B) we sell more to other countries than we buy from them. C) we buy more from other countries than we sell to them. D) we sell less to one country than another.
The equimarginal principle illustrates:
a. that consumers are essentially robots. b. that people behave irrationally. c. that people behave in rather consistent ways in order to maximize happiness. d. that people behave in rather inconsistent ways. e. that people will spend all their incomes.