Specialization arises because
A) some people don't like doing some tasks.
B) differences in the costs of production give some producers a comparative advantage in the production of particular goods or services.
C) the government directs resources into certain activities.
D) inefficient production forces producers to trade.
Ans: B) differences in the costs of production give some producers a comparative
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If income decreases or the price of a complement rises
A) the demand curve for a normal good shifts leftward. B) the demand curve for a normal good shifts rightward. C) there is an upward movement along the demand curve for the good. D) there is a downward movement along the demand curve for the good.
What is an indifference curve? Can two indifference curves intersect? Explain your answer
What will be an ideal response?