Asked by Katryna Rogerson on May 23, 2024
Verified
Economists use the term ______ to refer to the ability of a single person (or a small group) to have a substantial influence on market prices.
Market Prices
The current prices at which goods and services are bought and sold in the marketplace, determined by the forces of supply and demand.
Influence
The ability to impact the nature, growth, or actions of an individual or object, or the impact that is made.
- Explain and differentiate among various economic terms and their uses.
Verified Answer
AW
Learning Objectives
- Explain and differentiate among various economic terms and their uses.