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Підсумковий контроль

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What does “secondary market” mean in the phrase “there is usually a strong secondary market for the item”?
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What does “inverse” mean in the phrase “inverse relationship between price and quantity demanded”?
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What determines how much of a product will be supplied or demanded?
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What happens when there is overproduction?
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  1. What does human capital refer to?
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What can price elasticity tell us?

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Why is entrepreneurship sometimes considered a separate factor of production?

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  1. Why are some workers paid more than others?
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Why do high prices encourage production?
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How is capital defined in an economic sense?

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