A Basic Principle of Economics Is

question 33

Multiple Choice

A Basic principle of economics is:

• A)knowing your customer means understanding their income.
• B)there are costs involved in any action or decision.
• C)demand equals supply.
• D)equilibrium is beneficial.
• E)size and market share are important goals for a business.

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Definitions:

African Americans

African Americans are a racial or ethnic group in the United States with ancestry from the black racial groups of Africa.

American Indians

Indigenous peoples of the United States, including numerous tribes, each with their own distinct cultures and history.

European Americans

Individuals in the United States who trace their ancestry to Europe.

Insulin

A substance secreted by the pancreas that controls the levels of sugar in the blood by enabling glucose to be absorbed into body tissues.