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The gains from specialization and trade are based on
rises
comparative advantage
prices
All of the Above
the market price to fall
shortage
rises
complement
In addition to price, other determinantsof how much consumers want to buy include
rises
comparative advantage
prices
All of the Above
the market price to fall
shortage
rises
complement
According to the law of supply, as the price of a good rises, the quantity supplied
rises
comparative advantage
prices
All of the Above
the market price to fall
shortage
rises
complement
According to the law of demand, as the price of a good falls the quantity demanded
rises
comparative advantage
prices
All of the Above
the market price to fall
shortage
rises
complement
In market economies what are the signals that guide economic decisions?
rises
comparative advantage
prices
All of the Above
the market price to fall
shortage
rises
complement
Two goods for which an increase in the price of one leads to a decrease in the demand for the other
rises
comparative advantage
prices
All of the Above
the market price to fall
shortage
rises
complement
A situation in which quantity demanded is greater than quantity supplied
rises
comparative advantage
prices
All of the Above
the market price to fall
shortage
rises
complement
When the market price is above the equilibrium price, there is a surplus of the good which causes
rises
comparative advantage
prices
All of the Above
the market price to fall
shortage
rises
complement
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