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Author Question: The law of demand can be explained as A) legal reasons people make purchases in the marketplace. ... (Read 70 times)

burchfield96

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The law of demand can be explained as
 
  A) legal reasons people make purchases in the marketplace.
  B) people are willing to make limited sacrifices to acquire products.
  C) a lot of people wanting the same thing.
  D) the higher the price, the smaller the quantity demanded, ceteris paribus.

Question 2

Refer to the scenario above. Which of the following would have happened if the government had decided to provide an export subsidy on these crops?
 
  A) Domestic producers would have been worse off.
  B) Domestic consumers would have been worse off.
  C) The government's revenue would have increased.
  D) The volume of exports would have increased.


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vseab

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burchfield96

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Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review


tanna.moeller

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Reply 3 on: Yesterday
Excellent

 

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