When a consumer chooses the combination of goods and services to buy, what is she or he trying to achieve?
What will be an ideal response?
The consumer is trying to achieve the highest level of well being possible.
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An apparel manufacturer bought raw materials worth $60,000 in a particular year and earned a total revenue of $90,000. If he had no other expenditure, he added a value of ________ to the production process
A) $30,000 B) $90,000 C) $150,000 D) $12,000
Nearly half of federal government research and development spending takes place in the
a. National Science Foundation. b. National Aeronautics and Space Administration (NASA). c. Department of Defense. d. Federal Office of Technology Policy.
How does the concept of derived demand relate to the value of the U.S. dollar?
What will be an ideal response?
Identify markets in which there is an exchange.
What will be an ideal response?