The basic economic principle in which price is determined by how much consumers want a given product is known as
A) the efficiency principle.
B) the circular-flow model.
C) supply and demand.
D) the factors of production balance.
E) supply-side economics.
Correct Answer:
Verified
Q1: Which of the following is NOT a
Q3: A benefit of using "purchasing power parity"
Q4: The gross domestic product is
A) the total
Q5: In which of the following ways can
Q6: In a market economy, the factors of
Q7: Adam Smith's concept of the "invisible hand"
Q8: In a command economy, the value of
Q9: Which of the following is most likely
Q10: Which of the following is most likely
Q11: In a mixed economy,
A) most key infrastructure
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