The term scarcity in economics refers to the fact that:
a. economic wants are limited and resources are abused
b. even in the riches country some people go hungry
c. no country can produce enough products to satisfy everybody's economic wants
d. it is impossible to produce too much of any particular good or service in a market economy
You can choose a price that <u>maximizes your profits</u>.
<u>Explanation</u>:
If you are the only clothes producer in the industry, it is known as monopoly. Monopoly means a single seller selling a unique product without competition.
The monopoly seller has the right to choose the price for his goods. He can fix the price in the way to maximize his profit. As he is the sole seller, he will not have any competitions in the industry. This in turn helps him to make lot of profit on producing clothes with full freedom in fixing the price of the clothes.
<span>Most emotion researchers agree that the basic emotions are </span>universal and they are biologically determined in human being which is the products of evolution.<span>
There are six basic emotions which are biologically present and they are fear, surprise, anger, disgust, happiness, and sadness. At times these take various further shapes and can be found in complex forms as well.</span>
Answer:
the amount of alcohol consumed
Explanation:
Independent variable: In psychology, the independent variable is defined as the psychology experiment's characteristics that are being changed or manipulated. In a psychological experiment, the researcher controls or changes the independent variable and affects directly the dependent variable.
Example of the independent variable: Time and age.
The independent variable is considered to be as independent of everything else in an experiment.
