The Most Basic Investigative Tool of Economics Is the

question 284

Multiple Choice

The most basic investigative tool of economics is the

• A)concept of scarcity.
• B)mechanism of supply and demand.
• C)coordination and trade syndrome.
• D)inflation-unemployment trade-off.
• E)regulation of business.

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Definitions:

Ceramics Factory

A manufacturing plant where clay products, such as pottery or tiles, are made and fired.

Batches

Grouped sets of items that are processed or produced together.

Broken Pieces

Objects or materials that have been fractured or damaged into parts, no longer in their original condition.

Scatterplot

A graph in which the values of two variables are plotted along two axes, the pattern of the resulting points revealing any correlations present.