In the resource market rev 05102018 multiple choice

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In the resource market
rev: 05_10_2018 Multiple Choice households buy resources from businesses. businesses borrow financial capital from households. households sell resources to businesses. Correct businesses sell services to households.
The concept of a market is a rev: 05_02_2018 Multiple Choice store. location where buyers and sellers meet to negotiate prices and determine quantities traded.
Correct
Which of the following will not cause a change in the demand for product A? rev: 05_02_2018 Multiple Choice
A market with well-established rules and structure is a(n) _______ market. rev: 05_02_2018 Multiple Choice
general specific formal Correct informal
The table below represents the demand for bottles of sunscreen at Daytona Beach on a sunny June day. Demand for Sunscreen Price (dollars) Quantity of Sunscreen Demanded (bottles) $4 7,200 6 6,800 8 6,400 10 6,000 12 5,600
If the price of a bottle of sunscreen is $8, what will be the quantity demanded?
Marcus budgets $120 a week for groceries. When the price of all food goes up by 10% he buys less salmon. This can best be explained by:
the income effect. Correct a change in income. Explanation The question shows an example of the income effect. A price increase for all goods in the food category leads to a decrease in the purchasing power of income. For normal goods, an increase in the purchasing power of income leads to an increase in consumption, and a decrease in purchasing power of income leads to a decrease in consumption. Consequently, Marcus cannot buy the same amount of food for $120, so he has to reduce food consumption. Among other food-related goods the quantity of salmon demanded decreases. Which of the following scenarios is an example of a person interacting outside of a market?
Tastes and preferences generally do not change for goods or services in markets.

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