Answer to Question #288371 in Economics for Berkin

Question

I have three different questions. Can you help me about them please?

1-) Economics is the study of 

a) Production methods.

b) How society manages its scarce resources. 

c) How housebolds decile who performs which tasks, 

d) The interaction of business and government. 

e) Consumption 

2-)The statement that demand increased means that there is a 

a) Movement to the right along a demand curve, 

b) Movement to the left akong a demand curve.

c) Rightward shift of the demand curve. 

d) Leftward shift of the demand curve. 

e) Movement to the right along a supply curve. 

3-) If the price of product X falls and this change increases the demand for product Y, then 

a) x and y are complements. 

b) x and y are substitutes. 

c) x is an inferior good. 

d) y is an inferior good. 

e) all of the above

Answer 1

1. b) How society manages its scarce resources.
2. c) Rightward shift of the demand curve.
3. a) x and y are complements.