The "law of demand" refers to the fact that, all other things remaining the same, when the price of a good rises
A) the demand curve shifts rightward.
B) the demand curve shifts leftward.
C) there is a movement down along the demand curve to a larger quantity demanded.
D) there is a movement up along the demand curve to a smaller quantity demanded.
D
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For years, economists believed that market structure explained the ability of some firms to earn economic profits. Today, economists and business strategists put greater emphasis on
A) the number of countries in which a firm conducts business and the number of employees the firm has in each country. B) the number of years a firm has been in business and the average price of the products sold by the firm. C) the characteristics of individual firms and the strategies their managements use to continue to earn economic profits. D) the size of a firm relative to the industry average and the number of firms in the domestic industry.
Which of the following goods has the property of rivalry?
A) national defense B) a highway C) air to breath D) an outdoor movie screening