which of the following best summarizes the importance of business failure and the central idea of "creative destruction in a market economy?"
What will be an ideal response?
business failure allows the assets and resources from that business to move into other areas where they will be more productive
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Who is the seller in a primary market and who is the seller in a secondary market?
What will be an ideal response?
In the HPAE, inflation is kept under control and budget deficits and foreign debt levels are kept within the ability of the governments and the economies to handle them, which is quite different from the past experience of the Latin American region
Indicate whether the statement is true or false
All the problems studied in economics arise from
a. the unequal distribution of income b. overpopulation c. the scarcity of resources d. inappropriate government action e. war
Goods and services sold to foreign buyers are
A. Exports. B. A trade embargo. C. The terms of trade. D. Imports.