one existing solution to address scarcity is by looking for a substitute, or even developing it when none is available at the moment

which of the following factors does not affect the supply ?

Rent control may be mandated to reduce the number of low-income people who can live in a city to raise the demand for housing in other areas.

which of the following manifests demand

Consumers buy more of a good when its price decreases and less when its price increases

models serve as tools to present-day policy makers so they can make better and informed decisions in achieving progress and sustainable development

which of the following is the existing value when supply meets the demand, and the result becomes the basis in the market?

in theory, there will be boost in economic growth

another solution is being made by yhe government to address scarcity is facilitating the importing of goods from other countries

Increasing or decreasing the prices of commodities is an example of making crucial economic decisions in macroeconomics

by economizing the problem, the government is able to make choices upfront among the best available options

suppliers offer more goods/services when the price is higher, and less when the price is lower.

there will be low return for savers

which of the following statements is FALSE?

We pay taxes to the government for it to provide a secure, fair and progressive avenue for our economic transactions.

before making a crucial economic decision, a goof entrepreneur gathers pertinent data for the conduct of market research

scarce resources are being utilized in the production and distribution of basic goods, as well as in making essential services available

asset prices could rise because it is cheap to borrow

which of the following does not elicit inelastic demand?

By employing the economic concept, positive statements can be accepted or rejected through investigations and gathering of data.

The government mandates minimum the workers from employers who want to exploit those who badly need a job.

there will be lower cost of borrowing

what is the following statements is true?

when a shortage occurs, increases due to the increase in the demand

which of the following statements is NOT TRUE ?

it is the value that a customer, like rina, sees and is willing to pay for in a product or service

duopsony

duopoly

monopolistic competition

which of the following factors does not affect demand?

when the demand is low, yet an overproduction of goods occured, will likely happen.

relations between people during the production, distribution, and consumption of resources in a human society are being studied

monopsony

GDP is a good indication of how much an economy produces each year because it guides the individuals, policy makers and businessmen in making strategies and to have a better decision- making.

the currency will tend to depreciate

it stabilizes the market price to protect the plights of both the consumers and the producers

which of the following will not likely be considered in re-evaluating of market price

which of the following does not state the importance of market equilibrium?

When the government spends money that provides public goods and safety like, infrastructure bridges and highways, education building of public schools and healthcare to the households and firms it is simply called government spending.

the. curve is raising to the right because of. relationship between the price of the product/ service and the quantity supplied

which of the following is the best example of price floor

it refers to market situation where there is one producer or supplier of a product, which has no close substitutes and entry to the market is highly blocked

the. curve is falling to the right because of relationship between the price of the product/service and the quantity supplied.

pure competition

As one of the strategies of the society to deal with scarcity, equity is concerned with fair distribution of resources throughout society.