Posted by economyst on Tuesday, June 5, 2007 at 8:32am.
You should start a new post instead of adding on to an existing post.
That said, I would go with A
Which of the following statements is true??
A) The value of a good may change over time.
B)A highly valued good is always more expensive than a lesser valued good.
C)Highly valued goods are always scarce goods.
D)Rare goods are always scarce goods
E)The scarity of a good is always constant.
I would go with A.
You can eliminate most of the other answers by considering the oxygen as a good. Is it highly valued? Is it particularly scarce, in a relative sense?
The circular flow of economic activity can be summed up as:
A. households earn money by selling their factors of production to firms in the factor market and use that money to buy goods and services from firms in the product market.
B. firms earn money by selling their factors of production to households in the factor market and use that money to buy goods and services from households in the product market.
C. households buy factors of production from firms and use them to produce goods and services, which they sell to other households.
D. households earn money by selling their factors of production to firms in the product market and use that money to buy goods and services from firms in the factor market.
E. firms buy goods and services from other firms, who in turn buy goods and services from yet other firms.
No one has answered this question yet.
Answer this Question
Related Questions
7th grade English Ms. Sue please - 1. Which of the following examples of ...
Environmental Science - 1) Will there be reduced refuse production by our ...
to bobpursley - My classmates friends want me to post their questions as well....
Grammar - Select the correctly punctuated sentence: A) He said, "There but ...
DrBob222 please check - DrBob222 please check my physics question posted at 8:...
English - Thank you for your help. I have questions. 1. The eighth square on the...
lag - what is a idiom? the queston is this "which sentence uses an idiom?&...
To:Writeacher - Can you write you real name when you go to POST A NEW QUESTON IN...
Chemistry - I was getting restless to post these questions, so I decided to go ...
Economics - what it meant by equilibrium in economics?how equilibirum attained? ...
For Further Reading
