Total Revenues are equal to:
A) price times quantity in terms of dollars
B) price times rent
C) net profit
D) the amount of costs that a business firm incurs
Correct Answer:
Verified
Q18: Economic decisions are made by:
A) relative prices
B)
Q19: A market economy:
A) allocates good by prices
B)
Q20: Scarcity:
A) is the fundamental principle of economics
B)
Q21: If China continues to have high rates
Q22: The relationship between the price of a
Q24: If the price of organic food decreases
Q25: A phone call is an example of
Q26: North Korea is an example of a:
A)
Q27: Economics exists because of:
A) markets
B) resources
C) production
D)
Q28: Economics:
A) helps us make business, career, and
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