Which of the following is true?
A) Entrepreneurs are under-represented among millionaires.
B) All of the above are true.
C) The parents of successful entrepreneurs almost always have at least a college education.
D) Successful entrepreneurs are good at discovering profitable opportunities that have been overlooked by others.
D) Successful entrepreneurs are good at discovering profitable opportunities that have been overlooked by others.
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If the market in the figure above is perfectly competitive, consumer surplus is the area ________
A) ABH B) BFGH C) ACG D) BCD E) ACE
Should economics be considered a science? Why or why not?
What will be an ideal response?
Typically, the greater the specialization of resources
A) the less production that takes place. B) the greater the bow of the production possibilities curve. C) the poorer the country becomes. D) the greater the unemployment in the country.
Overconsumption of a product can be caused by imperfect information
a. True b. False Indicate whether the statement is true or false