I hate economics
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| show | B/c of his theory about free trade with limited government intervention
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| 2. What is thinking at the margin? | show 🗑
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| show | Exchange of goods and services that takes place of buyers and sellers.
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| show | That everyone has acess to info, understands interprets info correctly, and cost of production.
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| show | scarcity of needs, shortages, marginal utility, and cost of production.
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| show | Land, labor and capital
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| show | Entrepeneur
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| 8. Why are tradeoffs necessary? | show 🗑
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| 9. what does it mean to maximize utility? | show 🗑
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| 10. what are the 3 fundamental economic questions? | show 🗑
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| 11. What are the economic goals in a traditional economy? | show 🗑
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| show | Marketing towards a product like buy one get one free or 1/2 off
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| show | Market Economy
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| 14. What is specialization? | show 🗑
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| show | Economic interdependance
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| show | price increases
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| show | Hot dogs, any other substitute
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| 18. Quantity demanded moves along the demand curve in response to changes in what? | show 🗑
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| 19. What happens to the demand for clothes in a clothing store when blizzards keep customers at home? | show 🗑
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| show | Producers to produce
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| show | The quantity supplyed increases
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| show | A decrease in the price of raw materials
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| show | elasticity
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| show | The supply increases
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| show | Someone who has one bicycle will have less use for another one.
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| show | Where the supply is the exact amount as the demand
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| 27. The equilibrium price is the price At which what? | show 🗑
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| show | in a shortage
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| 29. What event in Florida and Cali could most likely shift the supply curve for orange juice to the left? | show 🗑
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| show | More people want to rent apartments then are available to rent.
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| show | to ensure that evryone could get essential scarce goods.
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| show | determined between the forces of market supply and demand
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| 33. How is the competition among resturants in a big city exampple of monopolistic competition? | show 🗑
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| 34. What is an example of an externality? | show 🗑
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| 36. | show 🗑
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| 40. | show 🗑
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| 43. | show 🗑
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
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To hide a column, click on the column name.
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You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
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mmartin59
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