The most basic concept in economics is

a. limited resources.

b. scarcity.

c. differences in​ people's tastes and preferences.

d. unlimited needs.

aylor & Edwards Inc. manufactures television sets. Last month, direct materials (electronic components, etc.) costing $550,000 were put into production.

A researcher wants to study the relationship between salary and gender. She randomly selects 382 individuals and determines their salary and gender. Can the researcher conclude that salary and gender are dependent?

Which situation could be the best example of an oligopoly? A new producer of power tools has entered the market and is relying on low prices to attract consumers.

Total utility: is the change in total satisfaction derived from consuming one more unit of a good. is the change in marginal satisfaction derived from consuming one more unit of a good. decreases with the consumption of each additional good.

Websites that are maintained by trustworthy groups, such as universities or government agencies, and that provide accurate and reliable information written by subject-matter experts, are referred to as blank websites.

A proposed nuclear power plant will cost $2.9 billion to build and then will produce cash flows of $370 million a year for 15 years. After that period (in year 15), it must be decommissioned at a cost of $970 million.

Why is work and looking for a job boring?

Curvilinear costs increase as volume of activity increases, but at a nonconstant rate. a. True b. False

Amar is choosing strong words, creating effective sentences, and developing coherent paragraphs. which step of the three-step writing process is he working on?

Rational decision-making under conditions of scarcity requires individuals to: a. be alert to price reductions on desired products. b. earn as much income as possible. c. understand that trade-offs are necessary. d.