Many Internet Sites, Such as Autobytel

question 155

Multiple Choice

Many Internet sites, such as Autobytel.com and Edmunds.com, have extensive information about the prices of new and used vehicles that anyone can use for free. In light of the availability of this information, what is the responsibility of consumers to use it?

• A) Consumers shouldn't use it because it gives them an unfair advantage over car dealers.
• B) Consumers have a responsibility to use the information and be smarter customers.
• C) Consumers can use it, but should not feel a responsibility to do so.
• D) Consumers should not trust any information they receive from any source except the government.
• E) None of these alternatives is correct.

Explain the role of scarce resources in economics and how they relate to the production possibilities curve.

Identify the importance of investment in the accumulation of capital goods.

Appreciate the significance of marginal analysis in economics.

Understand the philosophical and ideological underpinnings of individualism and freedom during the market revolution era.

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