<h2>The two fundamental steps are how people make choices & how resources and scarcity affect the costs and benefits of choices.</h2>
Explanation:
Let us understand the term "Economics" first.
It deals with "production, distribution and consumption" of "goods and services".
The basic steps are
People make choices by
- seeing the price of the market for any given product,
- the benefits that they get out of it,
- the postponement of buying a product based on the availability of the product
- buying products based on future demands
- understanding that the cost depends purely on the "scarcity" of the product
Answer:
None of the answers is correct:
- the CPI measures only a basket of goods and services, not all the goods and services
- the CPI measures around the whole country, not only in urban areas
- raw materials or wage rates have nothing to do with the CPI
Explanation:
The Consumer Price Index (CPI) measures the weighted average prices of a basket of goods and services (called the CPI basket). It is calculated by determining how much the nominal prices of the CPI basket changes from one year to another, or how the prices have changed using a base year and their current prices.
Answer:
feature differentiated products
Explaination:
i just took the quiz
Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer:
b. means-tested.
Explanation:
The government programs that represents the eligibility with respect to the benefits that depend upon the person who received the income is known as the mean tested. In this the low income should be considered. There are various examples like food stamps, subsidiaries of the houses, etc
Therefore the option b is correct
And, the other options are wrong