Which of the following is NOT a characteristic of the capitalist form of economic organization?
A. Central planning.
B. A reliance on decentralized market processes for resource allocation purposes.
C. Private ownership of productive resources.
D. All decisions are made by the government.
A. Central planning.
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To be efficient, outputs should be produced that minimize total cost.
Answer the following statement true (T) or false (F)
Screening is
a. actions by the informed party to reveal her true risks b. actions by the informed party to conceal her true risks c. actions by the uninformed party to uncover the true risks d. actions by the uninformed party to conceal the true risks
The U.S. Environmental Protection Agency estimated that communities that use the “pay-as-you-throw” program generate almost 50 percent less waste than communities where fixed fees or taxes cover the cost of curbside trash pickup.
Answer the following statement true (T) or false (F)
Ceteris paribus, which of the following will cause the demand curve for basketballs to shift to the left?
A.) The cost of producing basketballs increases. B.) Consumer incomes increase. C.) Parents decide soccer is a better sport for their children than basketball. D.) People become more interested in basketball as more football players are arrested for drugs.