Karl Marx said the people who control a society are the people who

A. run the government.

B. own the land.

C. own the plant and equipment.

D. work in the factories.


C. own the plant and equipment.

Economics

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Which of the following is a capital resource?

A. a computer programmer B. silicon (sand) used to make computer chips C. a corporate bond issued by a computer manufacturer D. a piece of software used by a firm

Economics

The above figure shows a housing market with a rent ceiling equal to $1,000. In this figure, after taking account of the resources lost in search, what area is equal to the consumer surplus?

A) area A B) area B C) area C D) area D E) area E

Economics

In the above figure, of the quantities listed below, for which is the total deadweight loss the largest?

A) 0 units B) 10 units C) 20 units D) 30 units

Economics

Why is a firm in perfect competition a price taker?

What will be an ideal response?

Economics