If the demand for hand-sewn leather shoes increases, it is highly likely the demand for:
A. leather will decrease.
B. skilled sewers will increase.
C. needle and thread will decrease.
D. all shoe-types will also increase.
B. skilled sewers will increase.
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Social costs are
A) costs that are borne by the government. B) the full cost borne by society whenever a resource use occurs. C) borne by individuals who incur them. D) another term for external costs.
Which of the following is not an effort by McDonald's to cope with diseconomies of scale?
a. being exposed to country and regions risk, such as environmental protests b. putting mini-restaurants in airports, gas stations, and Wal-Marts c. allowing managers in each region of the U.S. more leeway in pricing and promotion d. reducing product development time e. closing unprofitable restaurants
If the demand curve shifts outward and the supply curve remains the same, price will fall
a. True b. False Indicate whether the statement is true or false
Major types of indirect intermediaries include export trading companies, distributors, and freight forwarding companies.
a. true b. false