ECO 2301 UPDATED Questions and CORRECT Answers
In a market system, decisions about how to allocate resources are made:by individuals and firms interacting in markets coordinated by market prices the branch of economics that focuses on the conduct of affairs within narrowly defined units, such as households or business firms, is called:microeconomics an example of physical capital isa chainsaw additions to human capital can be made throughimproved education and on the job training if the govt imposed tax on each child born, you would expect thatfewer children would be born prices communicate info. about relative availability of products. For ex, a decrease in the price of corn signals to consumers and producers thatcorn is relatively more abundant than before
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