If a consumer must spend her entire income on some combination of two commodities and chooses to spend it all on just one of the commodities, then a. the other commodity is an economic bad. b. the other commodity must have zero marginal utility. c. the other commodity generates less utility per dollar spent on the good. d. the two commodities must be perfect substitutes.

Match each of the terms below with an example that fits the term. a. fungibility the production of gasoline b. inelasticity the switch from coffee to tea c. non-excludability the provision of national defense d. substitution the demand for cigarettes

Asmartphone manufacturing company uses social media to achieve different business objectives. match each social media activity of the company to the objective it the company achieve.

True or flase? a. new technological developments can us adapt to depleting sources of natural resources. b. research and development funds from the government to private industry never pay off for the country as a whole; they only increase the profits of rich corporations. c. in order for fledgling industries in poor nations to thrive, they must receive protection from foreign trade. d. countries with few natural resources will always be poor. e. as long as real gdp (gross domestic product) grows at a slower rate than the population, per capita real gdp increases.