The direct transfer of goods and services rather than cash is known as

The key distinguishing characteristic of an oligopoly is the:

A) presence of long-run economic profits. B) fact that in all cases firms produce a standardized product. C) mutual interdependence of the firms in the market. D) near total absence of advertising.

While you were an intern you bought 5 packages of hot dogs a month. After acquiring a full-time job with a considerably higher salary, you stopped purchasing hot dogs. For you, hot dogs are a

a. Complementary good b. Normal good c. Inferior good d. Substitute good