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.
onions taste good
Take a good look at this woman
Are good deeds selfish?
A good posture for practicing meditation is seated in a chair with the back upright and in ...
Kneeling on one knee to keep good alignment when massaging the arms and hands.
Nuts are also a good source of dietary fibre