People must make choices because

A) most people enjoy shopping.
B) of scarcity.
C) there are many goods available.
D) the question "What goods and services are produced?" is not adequately answered.
E) making choices is in the social interest.

B

Economics

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What is the price elasticity of supply? List and briefly define three cases of the price elasticity of supply

What will be an ideal response?

Economics

The amount of a tax paid by the buyers will be smaller the

A) more elastic the demand and the more inelastic the supply. B) more inelastic the demand and the more elastic the supply. C) more inelastic are both the supply and demand. D) more elastic are both the supply and demand.

Economics