What happens to a resource as it becomes scarcer?
a. The price rises and this increases the future supply relative to demand.
b. The price rises and this increases the future demand relative to supply.
c. The price falls and this increases the future supply relative to demand.
d. The price falls and this increases the future demand relative to supply.
A
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A payday loan company has decided to open several new locations in the city. To decide where to open these locations it hires consultants and pays them per store opened. At the end of the quarter, the company notices a many of the new stores' sales volume fail to meet expectations. To incentivize the consultants to instead focus on opening profitable stores, the company should have paid them
a. Per store opened b. A percentage of the profit earned per new store c. A fixed salary d. All of the above
The market tends to underproduce public goods because
A. The consumption of a public good by one person prevents the consumption of the same good by another person. B. It is difficult to measure the benefit of a public good such as national defense. C. The free-rider dilemma results in exclusive consumption of a good. D. Joint consumption allows those who do not pay for the good to still benefit from the good.
What are the factors that change investment demand and shift the demand for loanable funds curve?
What will be an ideal response?
Mass production was made possible by mass consumption, a national market and international trade
Indicate whether the statement is true or false