Questions

The price elasticity of supply measures how the responsiveness of the quantity demanded of a commodity to changes it its prices; defined as the percentage change in quantity demanded divided by the percentage change in price.

China is the largest producer of Rice in the world.

Administered prices are prices set by government or firms which are not determined by regular market forces. They do not vary in response to short-run fluctuations in demand and supply conditions.

Examples include price controls and rent controls.

Another name for false productivity is Spinning your wheels. They use the term for false productivity because your wheels are spinning as you're doing work but you're not going anywhere i.e, making any progress.

Brass, Bronze and Steel is a metallic alloy made up of two or more chemical element. But Silver a chemical element with symbol Ag and atomic number 47.

When the FTC was created in 1914, its purpose was to monitor all business practices to prevent unfair methods of competition in commerce as part of the battle to "bust the trusts."

Over the years, Congress passed additional laws giving the agency greater authority to police anticompetitive practices.