Economists use the word equality to describe a situation in which
a. each member of society has the same income.
b. each member of society has access to abundant quantities of goods and services, regardless of his or her income.
c. society is getting the maximum benefits from its scarce resources.
d. society's resources are used efficiently.
a
Economics
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__________: Is a loss in value within a structure due to changes in tastes, preferences, technical innovations, or market standards.
Fill in the blank(s) with the appropriate word(s).
Economics
What leads to a decrease in the quantity demanded of a good or service?
What will be an ideal response?
Economics