According to your text, the plans of all buyers and sellers would always be perfectly coordinated under
A) perfectly competitive market conditions.
B) imperfectly competitive market conditions.
C) monopolized market conditions.
D) oligopolized market conditions.
E) any market condition.
A
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Which of the following corresponds to the definition of the supply curve?
a. It depicts a positive relationship between income and quantity supplied. b. It depicts a positive relationship between technology and prices. c. It depicts a positive relationship between prices and quantity supplied. d. It depicts a negative relationship between prices and quantity supplied. e. It depicts a proportional relationship between prices and quantity supplied.
The economic way of thinking stresses that
a. changes in personal costs and benefits generally do not influence human behavior. b. incentives matter--when an option becomes less costly, people will be more likely to choose it. c. if one individual gains from an economic activity, then someone else must lose. d. goods provided by government do not consume valuable scarce resources since government activity is not part of the market economy.