When the supply curve and demand curve for a particular good are shown together on a single graph, the point at which the two curves intersect identifies the
A. total profit earned by producers.
B. total amount of labor that will be employed in that market.
C. amount of time it takes to bring together the buyers and sellers of the good.
D. equilibrium price of the good.
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________ is the market situation in which there are many sellers in a market and no seller is large enough to dictate the price of a product.
A. Oligopoly
B. Monopolistic competition
C. Perfect competition
D. Microeconomic competition
A major trend around the world today is that
A. free-market economies are moving more toward socialism and socialist economies are moving more toward capitalism.
B. productivity in the service sector is increasing much more rapidly than productivity in agriculture and manufacturing.
C. governments in socialist economies are increasing their use of social programs and relying on higher tax rates to finance these programs.
D. governments in countries with capitalist economies are paying less attention to environmental concerns and issues involving social equality.
A free-market economic system is one in which the market of buyers and sellers decides what is produced, how much is produced, and how it is distributed.
A. 对
B. 错
Under the basic principle of supply, as the price goes down, manufacturers and suppliers of a product tend to supply less of the product to the market.
A. 对
B. 错
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