Which of the following actions gave Ralph an indirect ownership share in a corporation?
a. He holds stock in a technology firm.
b. He bought products from a large department store.
c. He invested for retirement in a mutual fund.
d. He bought gift certificates from a restaurant chain.
c. He invested for retirement in a mutual fund.
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What does it mean when a "free lunch" is available? Relate your answer to the production possibilities frontier
What will be an ideal response?
Consider the following economic agents:
a. the government b. consumers c. producers Who, in a modern mixed economy, decides what goods and services will be produced with the scarce resources available in that economy? A) consumers B) consumers and producers C) producers D) the government E) the government, consumers, and producers
If the quantity of concert tickets sold decreases by 10 percent when the price increases by 5 percent, the price elasticity of demand over this range of the demand curve is:
a. price elastic. b. price inelastic. c. perfectly inelastic. d. unitary elastic.
Which concept explains how individual consumers in market economies determine what is to be produced?
a. competition b. consumer sovereignty c. decentralized decision-making d. free enterprise