Goods known as substitutes increase the use of another good.
a. true
b. false
Ans: b. false
Economics
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Consumer sovereignty answers which central issue in economics?
a. How will goods be produced? b. Who will produce the goods? c. What goods will be produced? d. For whom will the goods be produced? e. By what method will the goods be produced?
Economics
If demand is perfectly elastic,
A. The demand curve is vertical. B. The demand curve is very steep. C. The demand curve has a zero slope. D. The demand curve is horizontal.
Economics
What is the difference between an exclusive union and an inclusive union? What are the economic effects of each type?
What will be an ideal response?
Economics
A move from E to F represents
A. an increase in quantity supplied.
B. a decrease in quantity supplied.
C. an increase in supply.
D. a decrease in supply.
Economics