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ABEKA ECONOMICS Quiz 4. 4.9 (14 reviews) principle that states that as one's supply of a specific good or service increases, the satisfaction derived from each additional unit tends to decrease. Click the card to flip 👆. diminishing marginal utility. Click the card to flip 👆. 1 / 11.

true. Approximately how many years of life expectancy mark the difference between durable and nondurable goods? three years. True/False: Signals are transmitted in much the same way for both durable and nondurable goods. true. In a free market economy, who determines what goods are to be produced and in what quantity? consumer. ABEKA ECONOMICS Quiz 4. 4.9 (14 reviews) principle that states that as one's supply of a specific good or service increases, the satisfaction derived from each additional unit tends to decrease. Click the card to flip 👆. diminishing marginal utility. Click the card to flip 👆. 1 / 11. Study with Quizlet and memorize flashcards containing terms like What are the four parts of the business cycle?, What is a component of the economy that tends to change prior to the rest of the economy?, The value of all finished goods and services produced within a country during a year's time and more. Study with Quizlet and memorize flashcards containing terms like guarantees an investor the amount of his original investment plus a specified rate of interest by a certain date, combines the resources of all its shareholders and invests the money in a variety of areas, allows investors to receive a fixed amount in cash dividends if the company makes enough profit in a year to pay them and more.

demand schedule. t/f: a good whose demand is directly related to consumers' income is called a normal good. true. good capable of being used in place of another. substitute good. t/f: when the price of a good decreases, the quantity demanded decreases. false. Study with Quizlet and memorize flashcards containing terms like concept that states ...

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