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Teacher resources and professional development across the curriculum
Teacher professional development and classroom resources across the curriculum
To show how a well-functioning free-market pricing system determines how producers manufacture goods, what goods will be manufactured, and for whom the goods will be produced.
Markets are BEST defined by...
common interests of buyers and sellers.NEXT QUESTION
According to a Rand Youth Poll, young people have an estimated $45 to $65 billion to spend. 83% help shop for food. 88% help decide where to eat out. What impact will they have on grocery and restaurant markets?
Firms must produce what consumers desire in order to make a profit. Firms that ignore consumer demands cannot expect to remain in business long.NEXT QUESTION
Which of the following is MOST LIKELY to increase the demand for hybrid or electric automobiles?
The price of gasoline.NEXT QUESTION
Markets are considered to be perfectly competitive when...
there are so many sellers and buyers that none can affect prices.NEXT QUESTION
If the ticket lines for a Washington Nationals baseball game wound around the block and scalpers were getting $200 above the box office price, you could assume that...
box office prices were running below equilibrium.NEXT QUESTION
If the price for a hot dog at the ballpark is $7.50, as shown on the graph below, then the price of hot dogs...
Equilibrium is represented on the graph by the point at which the quantity demanded and quantity supplied intersect. Clearly, the actual price is currently well above this point.RESTART QUIZ