Which of the following is not a determinant of a good's price elasticity of demand?
A) the slope of the demand curve
B) whether the good is a luxury or a necessity
C) the share of the good in the consumer's total budget
D) the passage of time
Question 2
Which of the following statements about the economic decisions consumers, firms, and the government have to make is false?
A) Each faces the problem of scarcity which necessitates trade-offs in making economic decisions.
B) Both firms and individuals face scarcity.
C) Only individuals face scarcity; firms and the government do not.
D) Governments face the problem of scarcity in making economic decisions.
Slope Streaks in Acheron Fossae
Attention and memory are in demand during circle time.
Kneeling on one knee to keep good alignment when massaging the arms and hands.
China has relied on cheap coal to meet its demand for energy
Potatoes are a good source of complex carbohydrates
Find the factor demand for labour and the amount of output it will produce. Show all ...