Economics can be defined as the social science that explains the ________.
A) choices made by politicians
B) choices we make when we trade in markets
C) choices that we make as we cope with scarcity
D) choices made by households
Question 2
The figure above shows the U.S. demand and U.S. supply curves for cherries. At a world price of 2 per pound once international trade occurs, the production of cherries in the United States will equal
A) 200,000 pounds.
B) 400,000 pounds.
C) 600,000 pounds.
D) 800,000 pounds.
E) 0 pounds.
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