Multiple Choice
The development of MP3 players that significantly reduce the market for CDs and DVDs would be an example of:
A) specialization.
B) derived demand.
C) roundabout production.
D) creative destruction.
Correct Answer:
Verified
Correct Answer:
Verified
Q23: The term "laissez faire" suggests that:<br>A)land and
Q24: In the circular flow diagram, cost and
Q25: Which of the following statements best describes
Q26: Households and businesses are:<br>A)both buyers in the
Q28: Which fundamental question about a competitive market
Q29: Which is the main problem with the
Q30: As opposed to the market system, in
Q31: The economy of the former Soviet Union
Q32: Competition means that:<br>A)sellers can cause artificial product
Q94: The competitive market system<br>A)encourages innovation because government