In goods markets ________ and in factor markets ________
A) households sell to firms; firms sell to households
B) firms sell to households; households sell to firms
C) households sell to firms; households sell to firms
D) firms sell to households; firms sell to households
B
Economics
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Protection in the form of tariffs or quotas is a very inefficient tool for job creation and preservation
Indicate whether the statement is true or false
Economics
If an economist states that not enough of a good is being produced, she usually means that
A) not everyone can afford the good. B) price exceeds marginal cost. C) consumer surplus equals zero. D) at equilibrium, some people who still wish to sell the good cannot find a buyer.
Economics