An Educational Toy Store Can Buy a World Globe for $30.If

question 15

Multiple Choice

An educational toy store can buy a world globe for $30.If the store owner sells the globe for $45,what is the markup based on the selling price?

• A) 15 percent
• B) 20 percent
• C) 25 percent
• D) 33 percent
• E) 50 percent

Identify the challenges of applying the scientific method to economics due to the unpredictable nature of human behavior.

Calculate and interpret the slope of budget lines in various economic scenarios.

Distinguish between the economizing problem and the concept of scarcity in economics.

Understand the concept of opportunity cost in decision-making under scarcity.