Which of the following statements is true?
A) Capitalism has a tendency to eliminate scarcity.
B) Competition could be eliminated if money were abolished.
C) Competition is desirable and cooperation is undesirable.
D) Greed must be present for a market transaction to be effective.
E) None of the above.
E
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Goods that are very useful and highly desired are likely to be relatively expensive, no matter how scarce or abundant they are
Indicate whether the statement is true or false
In arriving at the quantity of output and price of its product, a company
A. chooses either output or price, and consumer demand determines the other. B. has no control over either quantity or price. C. makes two decisions by setting both optimal output and optimal price. D. generally leaves both quantity and price decisions to consumers.
What is the difference between government deficit and government debt?
Donald Trump’s first years in office could be illustrated by an
A. increase in aggregate demand. B. increase in aggregate supply. C. decrease in aggregate demand. D. decrease in aggregate supply.