Suppose you are a jeans producer who charges a price of $10 for a pair of jeans. but the equilibrium price is $15. at your price, you will have an jeans. excess supply of excess demand for equilibrium amount of

Which best describes the idea behind the "invisible hand"? producers decide what to make for consumers, which guides the economy. individuals seeking their own self interest benefit the economy as a whole. government sets policy for producers and consumers, which guides the economy. consumers decide what they need and want to buy, which guides the economy.

Inherited traits are passed down from our parents to us, their offspring, by the information that is coded in our parents'

The form of knowledge that we inherit from the culture in which we grow up is best described as