The rent for 2-bedroom apartments in Detroit has fallen from an average of $796 in September 2014 to $717 in March 2015. Demand for 2-bedroom apartments inDetroit was falling during this period as well. This is hard to explain because the law of demand says that lower prices should lead to higher demand. Do you agree or disagree with this statement?
A. Disagree. A rightward shift of the demand curve would result in a lower price and a lowerquantity demanded.
B. Agree. This is hard to explain because a fall in prices should result in a higher quantitydemanded.
C. Agree. This is hard to explain because a rise in prices should result in a higher quantitydemanded.
D. Disagree. A leftward shift of the demand curve would result in a lower price and a lowerquantity demanded.

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

answer(d) all of the choices are correct;