choose the correct answer:

7- The larger the number of uses to which a commodity can be put, the higher will be its elasticity. Examples of these products are:

A) rice and wheat B) iron ore C) sugar D) milk and egg

______ 2. Which of the following is a scarce resource? A) Paper used to produce textbooks B) Wheat given to Africa to solve hunger C) Clean water D) All of the above . If an economy experiences increasing opportunity costs with respect to two goods, then the production-possibilities curve between the two goods will be: A) Bowed outward C) A straight, downward-sloping line. B) Bowed inward D) A, B, C are possible. 6. If an economy is producing inside the production-possibilities curve, then: A) It does not have enough resources to be efficient. B) It must give up some of one good to produce more of another good. C) The curve needs to shift inward. D) It is using resources inefficiently.

6. Assume electricity and battery are substitutes. An increase in the price of one will result in: A) A decrease in demand for the other C) An increase in the demand for the other B) A decrease in the quantity demanded of the other D) An increase in the quantity demanded of the other

8. Tennis balls and tennis rackets are complements. A decrease in the price of tennis rackets will result in: A) An increase in the demand for tennis balls C) An increase in the demand for tennis rackets B) A decrease in the demand for tennis balls D) A decrease in the demand for tennis rackets