Your response should be at least 75 words in length. You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying
economics
Description
Your response should be at least 75 words in length. You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations How are opportunity cost and scarcity related? Explain why there is an inverse relationship between quantity demanded and price. Explain why there is usually a direct relationship between quantity supplied and price. What does money have to do with specialization and comparative advantage? What is a public good? Why does the government tend to produce public goods? What are the weaknesses and strengths of the various forms of business? Why do corporations tend to be so much larger than sole proprietorships or partnerships? Why is it so difficult to determine the objectives of the government?
