In the factor market, firms ________ and households ________.

Marginal cost is ________ average variable cost when ________.

Situational characteristics related to time are known as _____.

A flexible exchange rate is one that _______

Among the costs of integration for states is __________.

An economy in which two distinct economic systems marked by varying levels of technological advancement and development co-exist is known as a:

The supply of the capital goods in the economy:

The optimum tariff of a country is the highest when the elasticity of the offer curve of the opposite country is:

_____________ is a situation in which different sectors of an economy experience simultaneous and coordinated expansion.

At a given price, the demand for a certain commodity is 1000 units, whereas the quantity supplied is 2000 units. What happens to the price?