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Q: 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.
A: 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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Questions asked by the same visitor
The law of demand states that: (Points : 1) price and quantity demanded are inversely related. the larger the number of buyers in a market, the lower the product price will be. price and quantity demanded are directly related. consumers will buy more of a product at high prices than at low prices.
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Expert Answered
Updated 224 days ago|1/7/2017 8:00:40 PM
1 Answer/Comment
The law of demand states that: price and quantity demanded are inversely related.
Added 224 days ago|1/7/2017 1:59:35 PM
This answer has been confirmed as correct, not copied, and helpful.
Confirmed by yumdrea [1/7/2017 8:00:31 PM]
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