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Author Question: The price of one product in terms of another commodity is called its A) relative price. B) money ... (Read 58 times)

cookcarl

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on: Jun 29, 2018
The price of one product in terms of another commodity is called its
 
  A) relative price.
  B) money price.
  C) financial price.
  D) converse price.

Question 2

Which of the following statements is NOT true about the price system?
 
  A) The price system allows resources to flow from low-valued uses to high-valued uses.
  B) Firms have total control over what consumers can buy.
  C) Individuals have freedom to purchase what they want.
  D) The price system allows for economic efficiency.


fur

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

B


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