In Economics,choices Are Necessary Because of the Presence of

question 120

Multiple Choice

In economics,choices are necessary because of the presence of

• A) luxuries.
• B) inefficiency.
• C) needs.
• D) scarcity.
• E) incentives.

Apply appropriate guidelines to leverage social networks for personal branding and company communication.

Explain how companies and business professionals can utilize information and media sharing websites.

Adapt the three-step communication process to podcasting.

Compare and contrast blogging and microblogging in the context of business communication.

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Definitions:

Demand Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, with all else being equal.

Producer Surplus

The difference between what producers are willing to sell a good for and the higher price they actually receive.

Government Policy

Actions, regulations, or laws enacted by a government to influence economic, social, or environmental outcomes within its jurisdiction.

Producer Surplus

Producer surplus is the difference between the amount a producer is willing to accept for a good versus the actual market price they receive.