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1. A company released a new video game system just in time for Christmas and many stores quickly sold out. Although the price of the system was only $350, they sold for over $2,000 on an online auction site. Which of the following economic principles best explains this event?

People respond to incentives because of self-interest.
The value of some objects increases relative to other objects.
The price of all goods will rise over time.
Competition among consumers increases prices.

2. Which of the following describes the main role of advertising in a market economy?

It provides incentive for companies to grow their business.
It helps influence consumers to purchase products.
It improves a company's bond to the local community.
It motivates entrepreneurs to develop new products.

Respuesta :

Akocar819
1. I'm pretty sure this one is D. Competition among  consumers increases prices.
2. This one is B. It helps influence consumers to purchase products.

Hope this helped!
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Answer:

1. D. Competition among  consumers increases prices.

2. B. It helps influence consumers to purchase products.

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