Human wants
a. are unfilled only in the poorer countries of the world
b. can be completely satisfied by adopting new production technologies
c. can never be fully satisfied
d. can be satisfied if they refer only to necessities
e. exist only if we are selfish, irrational, or unwilling to modify how we produce goods and services
C
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For a given positively sloped supply curve, the price increase to consumers resulting from a specific tax imposed on sellers will be
A) greater the more price elastic demand is. B) greater the less price elastic demand is. C) equal to the entire tax when demand is perfectly elastic. D) equal to half of the tax whenever demand is unit elastic.
A buyer's response to a change in income is an example of a "change in demand."
a. True b. False Indicate whether the statement is true or false