According to most economists, the development of markets is:
A. both a necessary and a sufficient condition for development.
B. a sufficient condition for development but not a necessary condition.
C. a necessary condition for development but not a sufficient condition.
D. neither a necessary nor a sufficient condition for development.
Answer: C
You might also like to view...
A black market develops only when quantity demanded exceeds quantity supplied.
Answer the following statement true (T) or false (F)
Which statement most accurately describes what happens when both supply and demand curves shift?
a. When both curves shift, typically we can determine the overall effect on price and on quantity. b. When both curves shift, typically we can determine the overall effect on price but not on quantity. c. When both curves shift, typically we can determine the overall effect on price or on quantity, but not on both. d. When both curves shift, typically we can determine the overall effect on quantity, but not on price.
If a person uses money to buy a pair of shoes, money is functioning as
A) a unit of account. B) a store of value. C) a medium of exchange. D) none of the above
How much is the concentration ratio in this industry?
