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The Paradox of Value explains: a. why entrepreneurs can only produce so much of a product. c. why diamonds typically have a higher monetary value than water. b. the role of technology as it applies
to the factors of production. d. why resources are scarce.
The Paradox of Value explains: c. why diamonds typically have a higher monetary value than water.
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User: The Paradox of Value explains: a. why entrepreneurs can only produce so much of a product. c. why diamonds typically have a higher monetary value than water. b. the role of technology as it applies to the factors of production. d. why resources are scarce.

Weegy: The Paradox of Value explains: c. why diamonds typically have a higher monetary value than water.
andrewpallarca|Points 21382|

User: When there is scarcity and choice there is/are _______. a. no options. c. risk. b. costs. d. opportunity.

User: What is the product market? a. the market in which payments are received for selling products to consumers b. the market in which income is received for supplying land, labor, or capital c. the market in which firms purchase the factors of production from households d. the market in which households purchase the goods and services that firms produce

Weegy: Answer: d. the market in which households purchase the goods and services that firms produce Product market is where goods and services produced by businesses are sold to households. [ The households use the income they receive from the sale of resources to purchase the products. The money they spend is returned to the businesses as revenue. Product market regulation is an economic term that describes restrictions in the market. ]
belladonnax|Points 130|

User: Brian is starting his own business producing chairs designed to be used while playing video games. This is an example of _________. a. creating a monopoly b. specialization c. the factor market d. self-interest

Weegy: Brian is starting his own business producing chairs designed to be used while playing video games. This is an example of specialization.
Expert answered|jeifunk|Points 9600|



Question
Asked 5/3/2013 7:43:55 AM
Updated 78 days ago|5/14/2014 10:04:55 AM
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When there is scarcity and choice there is/are COSTS.
Added 78 days ago|5/14/2014 10:04:55 AM
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