Catherine compares the prices of candy bars in order to get the "best buy." This comparison represents using money as a

Erin and Deidre, two residents of Ithaca, New York, are planning a trip to Boston. Erin, the sales manager for a large retailer, has to attend a business meeting

Deidre, a college student on vacation, is planning a leisurely trip to visit friends and relatives. Which of the following statements is true? A) Since there is no difference in the cost of producing air travel, airlines will not charge different prices to Erin and Deidre. B) An airline cannot price discriminate because buyers can resell their tickets through the Internet. C) An airline that price discriminates will charge Erin a higher price. D) An airline that price discriminates will charge Deidre a higher price.

Economic theory suggests that if natural resources can be held as private property, then

A) conservation will be nonexistent. B) owners will have an incentive not to abuse them. C) natural resources will be sold off for immediate use. D) people will simply hold them and refuse to make them available.