Suppose you want to open a T-shirt shop. Which of the following would be most helpful in deciding how to price your T-shirts?

Which of the following is the most important pre-requisite to a well-functioning market economy?

A) Goods must be non-scarce. B) Everyone must have an adequate income. C) Participants must follow some clear, general rules. D) People must have roughly similar tastes and preferences. E) There must be approximate equality of incomes.

Refer to above Table 2-1. What is the level of Corporate Profits?

A) 260 B) 180 C) 270 D) 170