Which of the following best describes an entrepreneur?
a. A person who combines the factors of production to produce innovative products.
b. A special type of capital.
c. Wealthy individuals who provide savings that stimulate the economy.
d. A person who works as an office clerk at a major corporation.
a
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The figure above shows the price of a DVD player from 1996 to 2000. a. What type of graph is illustrated above? b. What is the trend in the price of a DVD player?
What will be an ideal response?
The slope of a straight line
A) is the same at all points along that line. B) cannot be defined. C) changes from one point to the next on that line. D) is always equal to zero.
If social cost exceeds private cost, there is
A) underproduction of a good. B) a negative externality. C) a positive externality. D) too little economic profit in the activity.
Germany placed a limit on the amount of beer that can be imported into Germany. This is an example of
A. an export subsidy. B. a tariff. C. dumping. D. a quota.