Economists find the notion of people "needing" things to be
A) supported by the law of demand.
B) considered false.
C) seriously misleading because they ignore substitutes.
D) considered tentatively true until the preponderance of the data suggests otherwise.
C
You might also like to view...
The term "laissez faire" was given to a system of free markets by
a. twentieth-century American economists. b. a seventeenth-century Scottish economist. c. eighteenth-century French economists. d. nineteenth-century Italian economists.
International trade can be correctly considered as an example of a zero-sum game
a. True b. False Indicate whether the statement is true or false
Sellers will tend to be most concerned with customer satisfaction when
a. it is difficult for the customer to evaluate product quality. b. they depend on repeat customers for most of their business. c. they sell primarily to tourists. d. they are a monopoly protected from competition by government licensing.
Because capitalism is practiced in the United States, misleading advertising is permitted.
a. true b. false