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What is NOT an example of a producer?

Increased competition between producers of a good may lead to

Economics Basics

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Answers

1
Increased competition between producers of a good may lead to
a decrease in profit
a rise in taxes
an increase in price
a drop in demand
2
What is NOT an example of a producer?
Chief
Shopper
Manufactural worker
Construction worker
3
Which type of economic system has the highest level of government control?
mixed economy
command economy
traditional economy
market economy
4
What is NOT a basic economic questions?
Who uses or consumes those goods and services?
What goods and services should be produced?
How can a business increase profit
How should good and services be produced?
5
What is an opportunity cost?
Increase in prices of goods
stock market
the cost of what you have to give up
decrease in prices of goods
6
High demand and limited supply of the goods will
have a large stock of goods at the store.
cause businesses to lose profit.
have a low market price for the product.
have a high market price for the product.
7
What does scarcity means?
limited supply
profit
large supply
surplus