31 May Question 1.The Salvation Army belongs to the: a.private, for-profit sector.
Question
1.The Salvation Army belongs to the:
a.private, for-profit sector.
b.government not for profit sector
c.nongovernment, not for profit sector
d. public private partnerships.
2.If the price elasticity of demand for a good is less than one in absolute value, economists characterize that demand is:
a.very sensitive to price changes
b.elastic
c.inelastic
d.perfectly elastic.
3.A decline in the number of firms that produce pianos will lead to:
a. a decrease in the quantity supplied of pianos
b.a rightward shift of the supply curve for pianos
c.a decrease in the quantity demanded for pianos
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