A "satisficer" is a person who
a. always chooses the best course of action.
b. often chooses the worst course of action.
c. makes decisions that are merely good enough.
d. studies both economics and psychology.
c
Economics
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Money as a medium of exchange
I. Facilitates the exchange of goods II. Reduces the incentive to barter A) I only B) II only C) Both I and II D) Neither I nor II
Economics
Refer to Table 3-1. The table above shows the demand schedules for Kona coffee of two individuals (Luke and Ravi) and the rest of the market. If the price of Kona coffee rises from $4 to $5, the market quantity demanded would
A) decrease by 115 lbs. B) decrease by 35 lbs. C) increase by 35 lbs. D) increase by 115 lbs.
Economics