Answer:
C
Explanation:
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The correct answer for USATestprep, LLC - Online State-Specific Review and Assessments ECONOMICS is . . .
C) opportunity cost
Answer:
The market price is determined by the combined actions of both the buyers and sellers
Explanation:
In other words, the market price is determined by the <em>clash of supply and demand</em>, which are the two basic economic determinants. Although Ulla is affected by a drought, she knows she cannot raise the sugar beet price, as her competitors would beat her. On the other hand, they could increase the price if all of the beet sellers throughout the US were affected by a drought.
<span>What have sociologists begun to realize about the nomadic lifestyle? Nomads have a hard time bridging the gap between their traditional lifestyle and doing what is best for the land. Nomads are classified as people who travel from one place to another with no real roots to call home. They are wanderers and find livestock and fresh crops to survive from. </span>
Answer:
Opportunity cost, comparative advantage and absolute advantage.
Explanation:
Production possibility curve is a graphical representation of two goods to be produced by the firm or by a country. It represents various combination of two goods that would be produced by the firms.
From these curves, we can determine the opportunity cost of producing one good in terms of other good. By calculating the opportunity cost of each good in terms of other good for both the countries, we can easily determine which country has the comparative advantage.
