Multiple Choice
Making a rational decision about whether to go to the cinema or to study involves comparing
A) the total cost of each activity.
B) the total benefit of each activity.
C) the price of the cinema ticket with the importance of study.
D) marginal benefits and marginal costs.
Correct Answer:
Verified
Correct Answer:
Verified
Q22: Explain the simple circular flow of income.<br>
Q23: In the 'circular flow of income' model,
Q24: What is opportunity cost? Illustrate your answer
Q25: An example of a demand- side government
Q26: Economists use the term 'capital' to mean<br>A)
Q28: A study of how increases in tax
Q29: _is related to wants and _ is related
Q30: Costs that cannot be avoided, regardless of
Q31: The total demand for goods and services
Q32: The purchase of final goods and services