The___________is the principle that suppliers will normally offer more for sale at higher prices than lower prices.
a. law of supply
b. law of demand
c. law of inputs
d. law of price
Ans: a. law of supply
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Which of the following did NOT contribute to "internal economies" in the industrialization process?
(a) Diminishing returns to scale (b) Central power sources (c) Managerial improvements (d) Transportation networks
As a nation the United States has been
A. Consuming too much and saving too much. B. Consuming too little and saving too little. C. Consuming too much and saving too little. D. Consuming too little and saving too much.
Which of the following is NOT a precondition for price discrimination?
A. The seller must have some market power. B. The price elasticities of demand are different for each group of consumers. C. The product is a durable good. D. The product cannot be resold to another customer.
The securitization of mortgages was first carried out by
A) Fannie Mae and Freddie Mac. B) WorldCom and Enron. C) the Federal Deposit Insurance Corporation (FDIC). D) Sarbanes-Oxley.