The market for smartwatches is becoming very competitive. The increase in competition in this market is an example of how the market responds to
A) changes in population.
B) increases in income.
C) changes in consumer tastes.
D) decreases in the price of smartphones (a substitute for the product).
Question 2
Scarcity refers to the situation in which
A) unlimited wants exceed limited resources.
B) a country's population is larger than its resource base.
C) a nation's poverty level increases faster than its population.
D) unlimited resources exceed limited wants.
A stallion with a proven competition record is one criterion for being a suitable sire.
Welcome sign for Kenton, Tennessee, an example of competition for "White Squirrel Capital"
China’s 8% annual increase in oil consumption
The Head Start program was designed to increase the school readiness of low-income children.
Regular staff meetings increase the efficiency of the medical office staff.
Competitive firms and maximization