19. Which is not a scarce resource?

Select one:

a.Firewood

b.Oil

c.Air

d.Diamonds

20. In which of the following markets does not involve the buyer and seller meeting?

Select one:

a.Amazon

b.Street trader selling vegetables

c.High Street clothes shop

d.Petrol Station

22. An increase in fixed costs will:

Select one:

a. Leave the break-even point unaltered.

b. Cause an increase in the break-even output and an increase in costs.

c. Cause a decrease in the break-even output and reduction in costs.

d. Cause an increase in the break-even output and decrease in costs.