What is a substitute good

One common measure of economic development is a country's:

As a proponent of the free market, Adam Smith viewed the main factors of production as labor, land, capital and entrepreneurship. True or False?

The price elasticity of demand in the United States for crude oil has been estimated to be minus - 0.061 in the short run and minus - 0.453 in the long run. Source: John C. B.

he Wood Valley Dairy makes cheese to supply to stores in its area. The dairy can make 485 pounds of cheese per day (358 days per year), and the demand at area stores is 67 pounds per day.

Joseph Company is considering replacing an existing piece of machinery with newer technology. In deciding whether to replace the existing machinery, management should consider which costs as relevant?

On November 1, 2021, Blossom Company purchased Splish, Inc., 10-year, 10%, bonds with a face value of $900000, for $820000. An additional $34000 was paid for the accrued interest. Interest is payable semiannually on January 1 and July 1.

Which of the following statements regarding rational ignorance are true? Check all that apply. a. Because candidates take stands on a wide range of issues, a rationally ignorant voter may choose not to fully assess the costs and benefits of voting

Jacob is creating a table to record his work schedule. When he typed in Wednesday, part of the word was not visible. Which of the following suggestions would be the quickest resolution to this problem? a.

Chang industries has 1,400 defective units of product that have already cost $13.40 each to produce. a salvage company will purchase the defective units as they are for $4.40 each.

Economic agents who generate externality are distinct from those who experience them. Example: one fisher catches juvenile fish that do not mature and are otherwise caught by another fisher in another location. O True O False