Author Question: If the quantity desired of something exceeds the amount available at zero price, that item is called ... (Read 34 times)

corkyiscool3328 · **on:** Jun 29, 2018

If the quantity desired of something exceeds the amount available at zero price, that item is called

A) capital.
B) an economic good.
C) an intangible good.
D) a bad.

Question 2

According to the law of demand, other things being equal

A) when the price a good goes up, then people buy more of that good.
B) when the price a good goes up, then people buy less of that good.
C) when people's income goes up, then they buy more of a good.
D) when people's income goes up, then they buy less of a good.