The situation in which a person places greater value on a good as fewer and fewer people possess it is called the
A) Bandwagon Effect.
B) Greater Value Effect.
C) Snob Effect.
D) Behavioral Effect.
C
Economics
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The effect of a quota is to
A) increase quantity supplied and lower price. B) increase quantity supplied and increase price. C) increase demand for the good and increase price. D) reduce quantity supplied and raise price.
Economics
In economic terms, what is achieved when the economy gets the most out of its scarce resources?
a. equilibrium b. specialization c. efficiency d. advantage
Economics