Category: Introduction To Economics

A. Investors owning companies
B. Government ownership of assets
C. Market forces of supply and demand
D. All trade via barter

A. Subaru’s impact on the price f cars
B. a farmer’s impact on the price of corn
C. Microsoft’s impact on the price of desktop operating systems
D. a student’s impact on college tuition

A. quantity demanded equals quantity supplied
B. Excess demand and excess supply are zero
C. The market is cleared by the equilibrium price
D. All of the above

A. positive statements, facts
B. opinions personal facts
C. positive statements values
D. opinions facts

A. no more of the activity.
B. less of the activity
C. more of the activity
D. more or less, depending on the benefits of other activities

A. descriptive economics
B. normative economics
C. macroeconomics.
D. microeconomics

A. What to produce
B. Who to produce for
C. How to produce
D. How to maximize economic growth

A. the cost incurred in the past before we make a decision about what to do in the future.
B. a cost that cannot be avoided. regardless of what is done in the future
C. that which we forgo, or give up, when we make a choice or a decision.
D. the additional benefit of buying an additional unit of a product

A. of labor supplied by all households.
B. Produced by the government.
C. of goods and services produced in an economy.
D. of products produced by a given industry.

A. The free provision of products
B. The Subsidizing of products by the government
C. Market forces of supply and demand
D. All trade via barter