Relate the term scarcity to the action(s) it causes.
A. Scarcity causes developed nations to have more material goods than developing nations.
B. Scarcity causes fewer technological advances.
C. Scarcity forces people to want more material goods.
D. Scarcity forces everyone to make choices.
Answer: D
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Scarcity exists because
A) society and people are greedy and wasteful. B) our wants exceed the resources available to satisfy them. C) of the inefficient choices we make. D) poor people need more food and other goods.
The period of expansion ends with a ________ and the period of recession ends with a ________
A) business cycle peak; business cycle peak B) business cycle trough; business cycle trough C) business cycle peak; business cycle trough D) business cycle trough; business cycle peak
The IBRD part of the World Bank is set up to lend to whom and for what types of projects?
What will be an ideal response?
A movie monopolist sells to students and adults. The demand function for students is QdS = 600 - 100P and the demand function for adults is QdA = 1,200 - 100P. The marginal cost is $2 per ticket. Suppose the movie theater can price discriminate. How many tickets does the theater sell to students to maximize profits?
A. 2500 B. 500 C. 200 D. 600