Hw2 microeconomics - Study guides, Class notes & Summaries

HW2- Micro Economics Question & Answers Student’s Name ID Task HW2 1. Economics studies choices that arise from one fact. What is that fact? A. Some things can't be bought in the marketplace. B. The population is always growing. C. Businesses produce too many varieties of most goods. D. Everyone has unsatisfied wants. Answer: D - Everyone has unsatisfied wants. 2. In May 2011, businesses cut hiring because the higher price of gas pushed up costs and higher food prices forced consu...