question
How do individuals contribute to the circular flow of economic activity?
answer
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question
Which is considered a negative side effect of minimum wage?
answer
Failure to meet equilibrium production
question
Which of these has the MOST effect on elasticity of supply?
answer
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question
The diagram shows the circular flow of goods and resources. What is the primary purpose of this chart?
answer
It shows how households and businesses interact in a market economy.
question
Amy's Coffee has been a fixture in Brownsville for years. Two months ago it dropped the price on all its regular coffees by 15% and experienced a noticeable increase in sales.
Which explanation BEST explains the situation that occurred at Amy's Coffee?
Which explanation BEST explains the situation that occurred at Amy's Coffee?
answer
Lower prices caused people to buy coffee at Amy's rather than at her competitors.
question
What product is likely to have the MOST elastic demand?
answer
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