While you were an intern you bought 5 packages of hot dogs a month. After acquiring a full-time job with a considerably higher salary, you stopped purchasing hot dogs. For you, hot dogs are a
a. Complementary good
b. Normal good
c. Inferior good
d. Substitute good
c
Economics
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A market with few entry barriers and with many firms that sell differentiated products is
A) purely competitive. B) a monopoly. C) monopolistically competitive. D) oligopolistic.
Economics
A survey done by the Bank of International Settlements found the _____________ market to be the largest market in the world economy.
a. online b. capital c. foreign exchange d. stock
Economics
The supply curve for land is perfectly elastic
a. True b. False Indicate whether the statement is true or false
Economics
another way to look at opportunity cost is the trade-off that occurs when one activity is undertaken rather than the _______ alternative activity.
Fill in the blank(s) with the appropriate word(s).
Economics