Author Question: Economic bads are items A) for which the produced quantity is less than the amount desired at a ... (Read 96 times)

sc00by25 · **on:** Jun 29, 2018

Economic bads are items

A) for which the produced quantity is less than the amount desired at a positive price.
B) for which the desired quantity is less than what nature provides at a zero price.
C) that individuals desire but which receive social disapproval.
D) that receive social approval but which governments dislike.

Question 2

Consumers are sovereign when

A) prices are decided by sellers.
B) a few consumers exercise coercion on sellers and other consumers.
C) they can prevent market failure.
D) they have the freedom to decide what they wish to purchase.