ECO 204 Principles of Microeconomics Week 1 Quiz Answers
- If the demand for coffee decreases as income decreases, coffee is a(n):
- In the simplified pure market economy described by the two-sector circular flow model, the participants are
- What will cause a change along the supply curve?
- In Collegia, a small college town, the market for parking spaces is in equilibrium at a going price of $5 a day. There are 1,500 spaces and they are all sold every day with no unsatisfied buyers. Now the college takes in 200 more students, each of whom also wants a parking space at $5 a day. If there is a normal, upward-sloping supply curve, what will happen when the market has time to adjust?
- Along with the other social sciences, economics is concerned with
- In what type of economic system are the basic economic questions answered in the same way as in the past?
- Macroeconomics is the study of
- Demand for a good will always rise when
- Microeconomics might include the study of
- Which of the following would embody entrepreneurship as it is defined by an economist?
No comments:
Post a Comment