1. Things that people buy like food, clothes and cellphones to satisfy their wants is considered as ______________. (Consumer Goods & Services, Producer Goods & Services,  Necessities, Luxuries, Oligopoly, Monopoly, Demand).   2. The commodity like crude oil is an example of the situation in the market called _______________.(Consumer Goods & Services, Producer Goods & Services,  Necessities, Luxuries, Oligopoly, Monopoly, Demand).   3. Silicon is one of the elements that can be found in the sand. Silicon is considered as ______________. (Consumer Goods & Services, Producer Goods & Services,  Necessities, Luxuries, Oligopoly, Monopoly, Demand).

Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter1: Ten Principles Of Economics
Section: Chapter Questions
Problem 4CQQ
icon
Related questions
Question

1. Things that people buy like food, clothes and cellphones to satisfy their wants is considered as ______________. (Consumer Goods & Services, Producer Goods & Services,  Necessities, Luxuries, Oligopoly, Monopoly, Demand).

 

2. The commodity like crude oil is an example of the situation in the market called _______________.(Consumer Goods & Services, Producer Goods & Services,  Necessities, Luxuries, Oligopoly, Monopoly, Demand).

 

3. Silicon is one of the elements that can be found in the sand. Silicon is considered as ______________. (Consumer Goods & Services, Producer Goods & Services,  Necessities, Luxuries, Oligopoly, Monopoly, Demand).

 

4. For an average income Filipino, a car is an example of ________________. (Consumer Goods & Services, Producer Goods & Services,  Necessities, Luxuries, Oligopoly, Monopoly, Demand).

 

5. There is an increase in the sales of netbook for the past five years, in economy this pertain to market ______________. (Consumer Goods & Services, Producer Goods & Services,  Necessities, Luxuries, Oligopoly, Monopoly, Demand).

Expert Solution
steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Health Insurance
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
Brief Principles of Macroeconomics (MindTap Cours…
Brief Principles of Macroeconomics (MindTap Cours…
Economics
ISBN:
9781337091985
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Essentials of Economics (MindTap Course List)
Essentials of Economics (MindTap Course List)
Economics
ISBN:
9781337091992
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Macroeconomics (MindTap Course List)
Principles of Macroeconomics (MindTap Course List)
Economics
ISBN:
9781305971509
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Macroeconomics (MindTap Course List)
Principles of Macroeconomics (MindTap Course List)
Economics
ISBN:
9781285165912
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Microeconomics (MindTap Course List)
Principles of Microeconomics (MindTap Course List)
Economics
ISBN:
9781305971493
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Microeconomics
Principles of Microeconomics
Economics
ISBN:
9781305156050
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning