The shaded triangle in the diagram below is known as?
A. excess supply B. consumer surplus C. excess consumption D. producer surplus Correct Answer: Option B – consumer surplus
In the diagram above, the price P2 in price control situation is referred to as?
A. minimum price B. markup price C. maximum price D. mark-down price Correct Answer: Option C – maximum price
In the diagram above, full employment is indicated by?
A. L B. M C. N D. P Correct Answer: Option B – MA major setback in any mixed economy is?
A. that is combined both the capitalist and socialist systems B. the freedom of choice in the production and consumption of goods and services C. that government intervenes to secure full utilization of resources D. that economy decisions are determined by market...Products
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