In a Simple Economy of Five Producers and Five Consumers

question 8

Multiple Choice

In a simple economy of five producers and five consumers, there would be ____ transactions possible without an intermediary and ____ transactions possible with one intermediary.

• A)ten; twenty-five
• B)thirty; ten
• C)twenty-five; fifteen
• D)sixteen; eight
• E)twenty-five; ten

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Definitions:

Dinosaurs

Dinosaurs were a diverse group of reptiles that lived during the Mesozoic Era, ranging from small feathered creatures to the largest land animals that have ever existed.

Heuristic Approach

A problem-solving strategy that employs a practical method, not guaranteed to be optimal, perfect, or rational, but sufficient for reaching an immediate goal.

Analytic Approach

A method of problem-solving by breaking a complex topic or substance into smaller parts to gain a better understanding of it.

Naive Physics

Naive physics is the common-sense understanding of the physical world that people develop based on their everyday experiences, often without formal education in physics.