Which of the following is true of markets?
a. Markets help to acquire a specialized set of skills and use the pay to buy goods and services
b. Markets allow consumers to consume only those goods they can produce.
c. Markets are based on reciprocity and require a mutual coincidence of wants between traders.
d. A market is a cashless economic system in which services and goods are traded at negotiated rates.
a
Economics
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If the price of a substitute increases, which of the following is most likely to happen in the market for the product under consideration in the short run?
A) Supply will increase. B) Firms will leave the market. C) Firms will devote more variable inputs in the production of this good. D) Firms will devote less variable inputs in the production of this good.
Economics
A bondholder is a stockholder who owns bonds
Indicate whether the statement is true or false
Economics