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☆☆☆☆☆Cards in this guide (7)
What best states the main difference between a monopoly and pure competition
A monopoly involves no competition at all while pure competition involves a high level of competition.
Which of the following is one of the major factors determining the level of wages
The Law of Supply and Demand.
Which of the following accurately describes a situation in which substitution occurs
A restaurant starts using margarine instead of butter because butter becomes more expensive.
a restaurant adds decaffeinated coffee to its menu because more customers have asked for this drink
Which of the following is one ofthe main causes of inflation
which of the following is one of the main causes of inflation Consumers demand good faster than they can be supplied
Which best explains the purpose of a demand schedule
To show the level of demand at various prices.
Which of the following accurately describes the effect of a situation of scarcity
Jjj
Match each type of policy with the example that best fits its definition. A. Protectionist policy The government goes into debt to buy a large number of vehicles for the military. B. Fiscal policy The
Pro-
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