According to the text, "economics tempers the enthusiasm of a manager to focus on the customer" because
A) customers hardly know what they want.
B) focusing solely on the customer may ignore other important elements of business success.
C) it shows the manager that the greatest benefit to the firm is to sell more.
D) it enables the manager to see that any kind of customer focus is not worth the costs.
E) it ensures that managers will find equilibrium.
B
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In the United States, the wealthiest 10 percent of households own about ________ of total wealth
A) 40 percent B) 66 percent C) 90 percent D) 55 percent
Farmers receive a relative large amount of transfers per capita because _____
a. farming is in decline b. there are more farmers than any other interest group c. agriculture is a national priority d. farming is the dominant industry in most rural Congressional districts
A currency depreciation is a(n):
A. increase in the official value of a currency in a fixed-exchange-rate system. B. increase in the value of a currency relative to other currencies. C. reduction in the official value of a currency in a fixed-exchange-rate system. D. decrease in the value of a currency relative to other currencies.
The figure below shows the supply and demand curves for jeans in Smallville.
The equilibrium price will NOT lead to the largest possible total economic surplus if:
A. the market for jeans is perfectly competitive. B. the production of jeans generates air pollution. C. there are diminishing returns in the production of jeans. D. jeans are purchased by consumers with reservation prices greater than $40.