One of the two reasons why we are driven to buy and sell goods and services in the market is that most of us are incapable of producing everything we want to consume.
Answer the following statement true (T) or false (F)
True
Individuals have an absolute inability to produce all the things we need and desire.
You might also like to view...
A progressive tax is such that:
A. tax rates are higher the greater one's income. B. the same tax rate applies to all income receivers, so that the rich pay absolutely more taxes than the poor. C. entrepreneurial income is exempt from taxation. D. the revenues it yields are spent on transfer payments.
An increase in U.S. imports of goods and services from the European Union (EU) countries will result in a(n) ________ euro and a(n) ________ U.S. dollars in the foreign exchange market.
A. decrease in the demand for; decrease in the supply of B. increase in the demand for; increase in the supply of C. surplus of; shortage of D. increase in the supply of; increase in the demand for