The rate at which buyers exchange money for a good or service is known as the price.

Answer the following statement true (T) or false (F)


True

The rate at which the buyer and seller exchange money for a good or service is called the price.

Economics

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Figure 4.5 illustrates a set of supply and demand curves for hamburgers. A decrease in demand and a decrease in quantity supplied are represented by a movement from

A) point a to point c. B) point d to point b. C) point b to point c. D) point c to point a.

Economics

If marginal product is greater than average product, then

A) marginal product could either be increasing or decreasing. B) average product must be decreasing. C) marginal product must be decreasing. D) marginal product must be increasing.

Economics

The Islamic country that is attracting attention because of its rapid growth:

a. Egypt b. Iran c. Pakistan d. Turkey e. None of the above

Economics

Market failure can occur even when the price signals are accurate.

Answer the following statement true (T) or false (F)

Economics