Markets exist:
A. so people can buy and sell things.
B. because people are self-sufficient.
C. because each person specializes in the production of many products.
D. as an arrangement where buyers do not interact with sellers.
Answer: A
You might also like to view...
Hummel is a line of figurines based on the artistic style of German nun Maria Innocentia Hummel and have become a collector's item. The Hummel figurines are almost uniformly "cute
" Lukas, Felix, Anya, and Hannah sell Hummel figurines through the internet. Their willingness to sell price for one figurine is: Lukas $240, Felix $180, Anya $150, Hannah $130. Suppose the price of a Hummel figurine is $150, who will sell their figurine? A) Anya and Hannah B) Lukas, Felix, and Anya C) Felix, Anya, and Hannah D) Hannah
A firm’s break-even point occurs where
a. marginal revenue equals marginal cost. b. marginal revenue equals average variable cost. c. total revenue equals total cost. d. total revenue equals total variable cost.
Contractionary monetary policy:
A. increases the U.S. interest rate and decreases the U.S. exchange rate. B. increases the U.S. interest rate and increases the U.S. exchange rate. C. lowers the U.S. interest rate and increases the U.S. exchange rate. D. lowers the U.S. interest rate and decreases the U.S. exchange rate.
During a business cycle expansion, total production ________ and total employment ________
A) decreases; increases B) increases; increases C) increases; decreases D) decreases; decreases