The above figure shows four different markets with changes in either the supply curve or the demand curve. Which graph best illustrates the market for tea after severe weather destroys a large portion of the coffee crop?

In economics, scarcity refers to the situation of:

A) optimizing with the use of limited information. B) having more wants than the amount of available resources. C) rationing of available goods and services by the government. D) sellers setting the prices of their products too high for people to be able to afford them.

Which of the following describes two-part tariff pricing?

A) A firm charges two different prices for the same good. B) An importer has to pay a tax at the nation's borders, and a sales tax when the good is sold. C) A buyer must pay a down payment and monthly payments to buy big-ticket items such as a car, a plasma television, or a suite of furniture. D) A buyer pays an initial price for entrance to the market and an additional fee for each unit of the product purchased.