Posssible questions for Janus quiz on supply and demand

By Anonymous -
1. Give several examples of the Relativity of Truth. How do you avoid leading the life of a Boxster?

2. What is arbitrary coherence? How  does this idea clash with the traditional view of economic decision-making? How do you overcome arbitrary coherence?

3. Explain the different kinds of elasticities? Why is elasticity such an important concept if you are running a business?

4. Explain the four factors that affect elasticity.

5. Explain the luxury boat example. What did you learn about taxation from this example?

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