When is a buyer NOT willing to spend a lot of time and energy researching the market?
a) when buying a large quantity of goods
b) when there are many identical products available
c) when the savings to be made are small
d) when prices vary but quality is the same
Ans: c) when the savings to be made are small
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Which of the following is an example of an effort to decrease physical capital differences between an advanced and a developing economy?
A) American troops build roads in Afghanistan. B) Through World Vision, women and children in Africa receive education. C) Peace Corps volunteers teach English around the world. D) Creating Hope International trains women in Afghanistan to become tailors. E) Habitat for Humanity builds houses for low income families in the United States.
Econometrics is the use of statistics to quantify and test economic models
Indicate whether the statement is true or false