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Economics may best be defined as the: (Points : 1) interaction between macro and micro considerations. social science concerned with how individuals, institutions, and society make
optimal choices under conditions of scarcity. empirical testing of value judgments through the use of logic. use of policy to refute facts and hypotheses.
Economics may best be defined as the social science concerned with how individuals, institutions, and society make optimal choices under conditions of scarcity.
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User: Economics may best be defined as the: (Points : 1) interaction between macro and micro considerations. social science concerned with how individuals, institutions, and society make optimal choices under conditions of scarcity. empirical testing of value judgments through the use of logic. use of policy to refute facts and hypotheses.

Weegy: Economics may best be defined as the social science concerned with how individuals, institutions, and society make optimal choices under conditions of scarcity.
emdjay23|Points 1535|

User: A competitive economy assumes the existence in each industry of a: (Points : 1) large number of small firms facing a large number of small buyers. few large firms facing a large number of small buyers. large number of small firms facing a few large buyers. few small firms facing a few small buyers.

Weegy: A: large number of small firms facing a large number of small buyers.
Sunshiineluv|Points 678|

User: Specialization and trade are beneficial to society because: (Points : 1) the output of economic goods may be increased with no increase in resources. scarce resources are utilized more efficiently. a division of labor lowers prices for products. all of the above are correct

Weegy: Specialization and trade are beneficial to society because: all of the above are correct.
Expert answered|businesslady|Points 1123|

User: Which will cause a demand curve to be relatively elastic? (Points : 1) There are few substitutes. The time interval considered is large. The good is considered a necessity. Purchases of the good require a small portion of consumers' budgets.



Weegy: The time interval considered large, will cause a demand curve to be relatively elastic. en.wikibooks.org/wiki/A-level_Economics/OCR/2885?
Expert answered|yumdrea|Points 30|



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Asked 5/28/2013 8:04:52 PM
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When producers maximize their profits from the production of a good or service, they are: (Points : 1) testing a hypothesis. exhibiting purposeful behavior. assuming that all other things are equal. making a tradeoff between economic efficiency and economic freedom.
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Economics may best be defined as the: (Points : 1) interaction between macro and micro considerations. social science concerned with how individuals, institutions, and society make optimal choices under conditions of scarcity. empirical testing of value judgments through the use of logic. use of policy to refute facts and hypotheses.
Weegy: Economics may best be defined as the:Social science concerned with how individuals, institutions, and society make optimal choices under conditions of scarcity.? quizlet.com/12917652/familiarize/embedv2?&m? (More)
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Asked 5/28/2013 8:01:36 PM
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Economics may best be defined as the: (Points : 1) interaction between macro and micro considerations. social science concerned with how individuals, institutions, and society make optimal choices under conditions of scarcity. empirical testing of value judgments through the use of logic. use of policy to refute facts and hypotheses.
Weegy: Economics may best be defined as the social science concerned with how individuals, institutions, and society make optimal choices under conditions of scarcity. (More)
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Asked 5/28/2013 7:58:42 PM
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Which will cause a demand curve to be relatively elastic? (Points : 1) There are few substitutes. The time interval considered is large. The good is considered a necessity. Purchases of the good require a small portion of consumers' budgets.
Weegy: The time interval considered is large. demand curve to be relatively elastic is the The time interval considered is large Relatively elastic means that relatively small changes in price cause relatively large changes in quantity. [ In other words, quantity is very responsive to price. More specifically, the percentage change in quantity is greater than the percentage change in price. Relatively elastic demand occurs when buyers can choose from among a large number of very close substitutes-in-consumption. In an analogous way, relatively elastic supply occurs when sellers are able to produce goods by switching resources among a large number of very close substitutes-in-production. ] User: Near an ocean beach, a high-rise building is being constructed that will block the scenic view of the ocean by the residents of a low-rise building. The Coase theorem suggests that this type of dispute between the owners of high-rise and low-rise buildings would best be resolved by: (Points : 1) the owners themselves. city government officials. a zoning ordinance restricting high-rise buildings. a government fine for the builder of the high-rise. Weegy: a zoning ordinance restricting high-rise buildings. (More)
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Asked 5/28/2013 8:34:16 PM
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