Say's law states that
A) supply creates its own demand.
B) supply and demand are never equal.
C) demand may be greater than supply.
D) supply will usually be greater than demand.
A
Economics
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The answer to, "What goods are to be produced?" deals with:
A) who gets the goods. B) how tastes and preferences are determined. C) how resources are combined to produce goods and services. D) the kinds and quantities of goods and services produced.
Economics
Refer to Table 4-2. The table above lists the highest prices five consumers are willing to pay for a concert ticket. If the price of one ticket falls from $50 to $20
A) everyone will buy a ticket. B) consumer surplus decreases from $48 to $24. C) only three tickets will be sold. D) consumer surplus increases from $0 to $62.
Economics