Tractors, shovels, copy machines and computer programming expertise are all examples of scarce resources
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Which of the following is an advantage of clustering?
a. New entrants can charge higher prices for products as compared to existing firms b. New entrants can have lower cost of gathering regional information about trends in the market. c. New entrants can benefit from favorable terms of trade. d. New entrants can engage in non-price competition with other firms in the industry. e. New entrants can charge low prices for their products.
Most of the world's currencies are backed by some type of commodity
Indicate whether the statement is true or false
Cyclical unemployment is the result of the business cycle
a. True b. False Indicate whether the statement is true or false
A utility-maximizing consumer always purchases a good that yields the greatest average utility per dollar of expenditure
a. True b. False Indicate whether the statement is true or false