What type of statement is "When the price of tuition goes up, fewer people will attend post-secondary institutions"?

a.an educated statement

b.a positive economic statement

c.a welfare statement

d.a normative economic statement

What are two very likely reasons for a government to intervene in a market?

a.to promote equity and to promote efficiency

b.to promote equity and to promote stability

c.to promote efficiency and to raise revenues

d.to promote stability and to raise revenues

What is one component necessary for markets to work?

a.property rights

b.abundant resources

c.a non-profit sector of society

d.government intervention