1. Often luxury brands burn a part of their production to remove it from the market, and create a artificial 'shortage' so that they can _____________ the price. (I am sure you can see how heart-breakingly bad this practice is for the Earth-----wasteful production of goods----an unsustainable business practice, and thus we all need to think twice before following fashion fads!)
2. A circular flow diagram shows flow of real labor from households to firms and of real goods from firms to households, and corresponding money flows of ________ fromfirms to households and of payment for goods from households to firms.
3. If S increases and D increases, also,we can say that surely: EquilibriumPrice may or may not decrease, andEquilibrium Q will increase. True or False ?