Markets exist to facilitate exchange between people
Indicate whether the statement is true or false
TRUE
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The International Monetary System was established
A) by the United Nations. B) by the Bretton Woods Agreement. C) by the United States, in cooperation with Great Britain. D) during the Great Depression by the League of Nations.
A monopoly sets a market price that is higher than the marginal cost of production. This fact implies that a monopoly's allocation of resources is:
a. unfair. b. inefficient. c. discriminatory. d. excessive.
More businesses in the United States are organized as partnerships than as proprietorships
Indicate whether the statement is true or false
Which of the following examples would most likely result in a decrease in supply?
a. A warm spell causes cotton to ripen early. b. A new manufacturing methods speeds bicycle production. c. A flood has a devastating effects on the tea crop. d. A new irrigation method spurs alfalfa yields.