A. There is government intervention in price determination B. Consumer sovereignty does not exist C. The price mechanism allocates resources…
A. amount of X it could not produce B. amount of Y it produced C. total amount of Y it…
A. consumers preference for luxury goods B. the household monthly income C. list of goods and services in order of…
A. Unlimited human wants B. Wants of varying important C. Limited means available for satisfying wants D. Means used in…
A. The duplication of some services will lead to resource wastage B. all corporation provides services which individuals cannot provide…
A. ease of entry B. small capital required C. limited entrepreneur skills needed D. ease of decision making E. tendency…
A. the exchange of goods and services B. the use of barter system C. the production of limited goods D.…
A. wholesaler B. distributor C. agent D. consumer E. retailer Correct Answer: Option D - consumer
A. free enterprise B. socialist economy C. mixed economy D. capitalist economy E. welfare company Correct Answer: Option B -…
A. of consumer's wants arrange in order of importance B. thaqt helps the individual to make rational choice C. that…