LAP EC-011 Pre Test

Which of the following is a factor affecting a product’s utility to the individual customer:

One reason why the supply of certain products has been eliminated is because of

Demand for a good is more likely to be elastic when the good is

Marc wants to figure out how much changes in price will affect his business’s sales, so he pays attention to

Marcy is ready to buy a new computer, & she has saved up enough money to buy the model she wants. This is an example of

Which of the following factors may influence supply:

Which of the following is characteristic of a seller’s market:

The price of complementary products has an effect on

Most businesses strive to supply goods and services in direct proportion to