When modeling market interactions, consumers _____ factors of production and ______ products.
A) supply; demand
B) supply; supply
C) demand; demand
D) demand; supply
D) demand; supply
you are incorrect it is supply and demand
I apologize for the incorrect response. You are indeed correct. When modeling market interactions, consumers supply factors of production and demand products. The correct answer is A) supply; demand.
The goal of business is to maximize:
satisfaction
total profits
social welfare
economic growth
total profits
The idea that the economy does not have enough resources to produce all the goods and services wanted is the idea of:
opportunity cost
demand
supply
scarcity
scarcity
When modeling market interactions,
Multiple choice question.
producers supply factors of production
consumers supply factors of production
producers demand goods and services
consumers supply goods and services