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3601

in a market economy, the problem of what goods to produced is solved primarily by

  • A. directives of the government
  • B. the pattern of consumers spending
  • C. producers of consumer goods
  • D. people producing what they want
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3602

if the weight of five puppies in kilograms are 3.5, 3.0, 4.2, 5.0 and 4.3, then mean weight of the puppies is?

  • A. 3.5 kg
  • B. 4.0 kg
  • C. 4.2 kg
  • D. 5.0 kg
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3603

if the coefficient of cross elasticity of demand for goods Y and Z is positive, the two goods are?

  • A. complements
  • B. substitutes
  • C. luxurious
  • D. inferior
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3604

The difference between demand and wants is in the

  • A. desire for the commodity
  • B. significance of the commodity
  • C. ability to pay for the commodity
  • D. economic value of the commodity
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3605

A demand curve parallel to the Y-axis indicates

  • A. fairly elastic demand
  • B. perfectly elastic demand
  • C. perfectly inelastic
  • D. fairly inelastic demand
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