HAPPY VACATION ANDREANS

QOTW WILL BE BACK IN JUNE

Answers to Final QOTW for 2012-13

1. OPEC

     C) is a cartel of producing countries, with most, but not all members in the Middle East.

2. Residential electricity is typically sold in markets governed by

     C) regulated monopolists.

3. When people are influenced by a tax or regulation to do something they might not otherwise do then economists call this

     A) an incentive.

   

 4. The fact that production cannot exceed what is possible given available resources indicates that there is

     A) scarcity.

All correct answers submitted by;

Zenaida and Alisha of F.Y.B.Com.