Examlex
Consider the following statements:
A.Consumers rent more kayaks from a vendor that rents kayaks at a lower price than other rival kayak vendors along Waikiki beach.
B.Department stores take steps to increase security since they believe it is more costly to allow shoplifting than to install expensive security monitoring equipment.
C.Farmers produce more cotton when its selling price falls.
Which of the above statements demonstrates that economic agents respond to incentives?
Spoon
A utensil consisting of a small, shallow bowl on a handle, used for preparing, serving, or eating food.
Statue
A three-dimensional sculpture.
Kente Cloth
A type of silk and cotton fabric made of interwoven cloth strips and is native to the Akan ethnic group of South Ghana, known for its vibrant colors and designs.
Material
A substance or substances from which a thing is or can be made.
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