Answer:
B. consumption bundles
Explanation:
Customer preference is defined as the likes and dislikes that a customer has that determines his choice in making purchases.
For exams a customer may want to buy shoes that are black in colour, but shoes that are yellow in colour are ignored.
Preferences of buyers are independent not prices and income level.
Rather it is dependent on consumption bundle. That is the set of goods that will give highest satisfaction to the buyer.
Answer:
Producers and consumers :)
Explanation:
Market economies are run by buyers and sellers, there is no government involved.
Answer:
A.You should go home and watch TV.
Explanation:
You should go home and watch TV because it is the activity that represents the highest value of the three.
It means that it is also the activity that has the lowest opportunity cost among the three, because any other alternative is less valuable to you.
Answer:
If property rights are not well enforced, all of the following are likely to occur except;_________
A. a significant number of people will be willing to risk their funds by investing them in local businesses.
Explanation:
Other options are likely to occur, except option A. Investors cannot risk their capital investing in the local economy. This is the fate of an economy where property rights are not protected. This also underlines the need for each government to ensure that property rights are recognized and legally protected.
