QUESTION 12 The quantity of tea bought decreased by 20 percent when the price of

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QUESTION 12 The quantity of tea bought decreased by 20 percent when the price of coffee declined by 10 percent. Assuming other factors are held constant, coffee and tea are classified as complements substitutes social goods normal goods. inferior goods none of the above QUESTION 13 On a production possibilities curve, a change from economic inefficiency to economic efficiency is obtained by movement along the curve. from a point outside the curve to a point on the curve movement from a point inside the curve to a point on the curve a change in the slope of the curve QUESTION 14 The subject of economics is primarily the study of: how to operate a business successfully how to make money in the stock market the government decision-making O decision-making because of the problem of scarcity none of the above Click Save and Submit to save and subemit. Click Save All Anmvers to save all answers Save Al 2 3 DW F3 FS #6 ?7

Explanation / Answer

Q 12. Option B.

Substitutes

Q14. Option D.

The subject of Economics is primarily the utility of

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