Question
Which of the following statements are true regarding the
process of digestion? 1. Digestion begins in the mouth where enzymes start breaking down food. 2. The stomach absorbs most nutrients from food. 3. The small intestine is the main site for nutrient absorption. 4. The liver produces bile which aids in fat digestion. Select the correct answer using the code below:Solution
• Statement 1 is correct as digestion begins in the mouth, where the enzyme salivary amylase begins breaking down carbohydrates. • Statement 2 is incorrect as the stomach primarily breaks down food but does not absorb most nutrients; that happens in the small intestine. • Statement 3 is correct because the small intestine is the main site for nutrient absorption. • Statement 4 is correct because the liver produces bile, which aids in the digestion of fats in the small intestine.
If the firms under perfect competition have different costs, abnormal profits can be earned in the long run only by
In case of Giffens goods, price effect is
From the resource allocation point of view, perfect competition is preferable becauseÂ
Shifts in demand curve as shown in the figure below represents
A movement along a demand curve indicates that a different quantity is being demanded
This movement is due to
When the economist speaks of an increase in demand, he is usually referring to a ____________________
Elasticity of demand measures the
Pricing decision includes
Which one of the following is not the function of a managerial economist?
Elasticity of demand is based on which of the following factors?
