Patent laws establish property rights for new goods

The income elasticity of demand for store brands of soda (that is, non-name brands) is negative. What does this fact indicate about consumers' perceptions about the store brands?

What will be an ideal response?

Chausiku’s country has seen its production possibilities curve shift down and to the left over the past five years. Which of the following has most likely affected Chausiku’s country during this period?

a. discovery of a major oil field b. a prolonged drought c. expansion of the nation’s highway system d. implementation of universal health care