Which of the following is the oldest economic system?

A(n) ________ is an auction in which bids are placed publicly and the price decreases until a bidder stops the auction

A) open outcry English auction B) open outcry Dutch auction C) silent auction D) penny auction

The sales of shoes that include shoelaces is a tie-in sale that most likely

A) greatly increases the shoe producer's profit. B) increases transactions costs. C) increases efficiency. D) None of the above.