BC_MC_Test_06_ans
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BC_MC_Test_06_ans

Course Number: BUS BAM316, Spring 2009

College/University: 東京大学

Word Count: 3753

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Chapter 6 COMPLETING BUSINESS MESSAGES Multiple Choice 1. The main tasks in completing a business message consist of all except a. proofreading. b. revising. c. forecasting. d. producing. ANSWER: c; DIFFICULTY: moderate; PAGE: 150; TYPE: concept 2. When revising a document, you should a. first read through it quickly to evaluate its overall effectiveness. b. first look carefully for grammatical errors. c. try to...

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6 Chapter COMPLETING BUSINESS MESSAGES Multiple Choice 1. The main tasks in completing a business message consist of all except a. proofreading. b. revising. c. forecasting. d. producing. Register to View AnswerDIFFICULTY: moderate; PAGE: 150; TYPE: concept 2. When revising a document, you should a. first read through it quickly to evaluate its overall effectiveness. b. first look carefully for grammatical errors. c. try to accomplish all revision tasks in one pass, in order to finish quickly. d. pay closest attention to the document's spelling. Register to View AnswerDIFFICULTY: moderate; PAGE: 151; TYPE: concept 3. When reviewing your document for content, you should be concerned with a. grammar and usage. b. punctuation and spelling. c. the accuracy and relevance of the information. d. style and tone. Register to View AnswerDIFFICULTY: moderate; PAGE: 151; TYPE: concept 4. One of the best-known readability formulas is the a. Flesch-Kincaid Grade Level Score. b. 2 + 2 Formula. c. Scan Plan. d. Carnegie Index. Register to View AnswerDIFFICULTY: moderate; PAGE: 153; TYPE: concept 5. For general business messages, your writing should be geared to readers at the a. first- to fourth-grade level. b. fifth- to sixth-grade level. c. eighth- to eleventh-grade level. d. twelfth- to fourteenth-grade level. Register to View AnswerDIFFICULTY: moderate; PAGE: 153; TYPE: concept 6. Which of the following is not a technique for helping readers who skim your document? a. Using lists instead of narrative b. Keeping all sentences the same length c. Including headings and subheadings d. Using shorter paragraphs Register to View AnswerDIFFICULTY: moderate; PAGE: 154; TYPE: concept 7. Skilled business writers a. use long sentences to emphasize important information. b. keep their sentences to an average length of 40 words or fewer. c. vary the length of their sentences. d. do all of the above. Register to View AnswerDIFFICULTY: moderate; PAGE: 154; TYPE: concept 8. When it comes to paragraph length a. use long paragraphs with detailed information for direct-mail letters. b. use long paragraphs if you want your document to look more inviting. c. keep all paragraphs to fewer than 60 words. d. use one-sentence paragraphs only occasionally, for emphasis. Register to View AnswerDIFFICULTY: moderate; PAGE: 154; TYPE: concept 9. When creating a list for a business document a. always use bullets, rather than numbers or letters. b. keep in mind that the items need not be parallel. c. be sure to introduce them clearly. d. do all of the above. Register to View AnswerDIFFICULTY: moderate; PAGE: 155; TYPE: concept 10. Informative headings and subheadings a. simply identify topics covered in the document. b. guide readers to think a certain way about the topics covered. c. are easier to write than descriptive headings. d. are less helpful to readers than descriptive headings. Register to View AnswerDIFFICULTY: difficult; PAGE: 156; TYPE: concept 11. "If the figures are in by the end of the month we will hopefully be able to begin planning for the upcoming year's budget, but if they are not then the planning process will most definitely have to wait until later" is an example of a. a comma splice. b. an overly long sentence. c. an indefinite pronoun starter. d. an awkward pointer. Register to View AnswerDIFFICULTY: moderate; PAGE: 157; TYPE: application 12. Which of the following is an example of a hedging sentence? a. The report seems to be incomplete. b. The deadline is next Tuesday. c. The financial statement needs to have two sections. d. None of the above is hedging. Register to View AnswerDIFFICULTY: moderate; PAGE: 157; TYPE: application 13. What is wrong with the following sentence? "To waste time and missing deadlines are bad habits." a. Similar ideas are not parallel. b. It contains a dangling modifier. c. It contains a split infinitive. d. Nothing--it is grammatically correct as written. Register to View AnswerDIFFICULTY: moderate; PAGE: 157; TYPE: application 14. What is wrong with the following sentence? "Driving to the office, a police officer stopped me for speeding." a. It lacks parallelism. b. It contains a dangling modifier. c. It contains an awkward pointer. d. Nothing--it is grammaticd margins are not preferred for business documents because they a. make the document harder to read. b. darken the message's appearance because there is less white space. c. make messages look less personalized. d. do all of the above. Register to View AnswerDIFFICULTY: moderate; PAGE: 166; TYPE: concept 30. Centered type in business documents is a. never appropriate. b. rarely used for text but commonly used for headings. c. acceptable for long sections of text but not for headings. d. always preferred for exceptionally long paragraphs. Register to View AnswerDIFFICULTY: moderate; PAGE: 167; TYPE: concept 31. Serif typefaces are generally preferable to sans serif faces for a. display treatments. b. headings and captions. c. text. d. none of the above. Register to View AnswerDIFFICULTY: moderate; PAGE: 167; TYPE: concept 32. When selecting typefaces for most business documents, you should a. generally avoid using more than two typefaces on a page. b. make generous use of such styles as all caps, underlines, and boldface. c. choose a nice sans serif face for your main body text. d. use a large type size (at least 14 points) for your basic text if you need to fill up space. Register to View AnswerDIFFICULTY: moderate; PAGE: 167; TYPE: concept 33. Desktop publishing software a. includes specialized tools for formatting, layout, and design. b. allows you to add color, photographs, and clip art to documents c. provides "style sheets" that help ensure a consistent look to your documents. d. does all of the above. Register to View AnswerDIFFICULTY: moderate; PAGE: 168; TYPE: concept 34. Which of the following lists contains the elements of a business letter in the proper order? a. letterhead, date, inside address, salutation, message, complimentary close b. letterhead, inside address, date, salutation, message, complimentary close c. date, letterhead, inside address, salutation, message, complimentary close d. none of the above Register to View AnswerDIFFICULTY: moderate; PAGE: 169; TYPE: concept 35. If you're sending extremely large files, you should a. use overnight delivery to send a hard copy rather than sending them electronically. b. see whether your audience would prefer to receive them on a CD instead of as an e-mail attachment. c. always send them as MS Word attachments. d. send them through the mail to avoid excessive costs. Register to View AnswerDIFFICULTY: moderate; PAGE: 171; TYPE: concept True or False 36. After you have completed the first draft of your business message, the next step is to make a final, quick pass through it to check for typos and spelling errors. Register to View AnswerDIFFICULTY: moderate; PAGE: 150; TYPE: concept 37. With practice, most writers can create first drafts that do not need to be revised. Register to View AnswerDIFFICULTY: moderate; PAGE: 150; TYPE: concept 38. The best approach to completing your business message is to focus on the details first before addressing the document as a whole. Register to View AnswerDIFFICULTY: moderate; PAGE: 151; TYPE: concept 39. It is a good idea to set aside a first draft for a day or two before beginning the revision process. Register to View AnswerDIFFICULTY: moderate; PAGE: 151; TYPE: concept 40. At the beginning of the revision process, you should evaluate the content of your message, then review the effectiveness of its organization. Register to View AnswerDIFFICULTY: moderate; PAGE: 151; TYPE: concept 41. The middle section of a message has the greatest impact on the audience. Register to View AnswerDIFFICULTY: moderate; PAGE: 151; TYPE: concept 42. You should strive for a sixth-grade reading level for most business messages. Register to View AnswerDIFFICULTY: moderate; PAGE: 153; TYPE: concept 43. Although readability formulas are easy to apply, they ignore some factors that contribute to reading ease. Register to View AnswerDIFFICULTY: moderate; PAGE: 153; TYPE: concept 44. Skilled business writers keep all their sentences as short as possible. Register to View AnswerDIFFICULTY: moderate; PAGE: 154; TYPE: concept 45. Although you should vary the length of paragraphs in your business messages, in general you should strive for short paragraphs. Register to View AnswerDIFFICULTY: moderate; PAGE: 154; TYPE: concept 46. It is inappropriate to use lists in formal business writing. Register to View AnswerDIFFICULTY: easy; PAGE: 155; TYPE: concept 47. To create a list, you can use numbers, letters, or bullets (graphic elements) to separate the items. Register to View AnswerDIFFICULTY: moderate; PAGE: 155; TYPE: concept 48. Items in a list do not need to have parallel construction. Register to View AnswerDIFFICULTY: moderate; PAGE: 155; TYPE: concept 49. Headings have one function, which is to break up long blocks of type. Register to View AnswerDIFFICULTY: moderate; PAGE: 156; TYPE: concept 50. An example of an informative heading would be "Business Travel." Register to View AnswerDIFFICULTY: moderate; PAGE: 156; TYPE: application 51. Readers can understand informative headings without reading the rest of the document. Register to View AnswerDIFFICULTY: moderate; PAGE: 156; TYPE: concept 52. One way to make your messages clearer is to break up overly long sentences into shorter sentences. Register to View AnswerDIFFICULTY: moderate; PAGE: 157; TYPE: concept 53. To avoid legal problems in your business messages, you should use as many hedging words (such as may or seems) as possible. Register to View AnswerDIFFICULTY: moderate; PAGE: 157; TYPE: concept 54. Dangling modifiers are often the result of passive constructions. Register to View AnswerDIFFICULTY: moderate; PAGE: 157; TYPE: concept 55. A camouflaged verb is a verb that has been turned into a noun or an adjective. Register to View AnswerDIFFICULTY: moderate; PAGE: 159; TYPE: concept 56. The subject and predicate of a sentence should be kept as close together as possible. Register to View AnswerDIFFICULTY: moderate; PAGE: 159; TYPE: concept 57. To save words, make liberal use of references such as "the latter," "the former," "the aforementioned," and "as mentioned above." Register to View AnswerDIFFICULTY: moderate; PAGE: 159; TYPE: concept 58. After editing for conciseness and clarity, you'll find that most first drafts can be cut by as much as 50 percent. Register to View AnswerDIFFICULTY: moderate; PAGE: 159; TYPE: concept 59. The word very is usually unnecessary and contributes to sentence clutter. Register to View AnswerDIFFICULTY: moderate; PAGE: 159; TYPE: concept 60. Short words are more vivid and easier to read than long words. Register to View AnswerDIFFICULTY: moderate; PAGE: 159; TYPE: concept 61. Redundancies are useful to readers because repetition leads to better recall of information. Register to View AnswerDIFFICULTY: moderate; PAGE: 159; TYPE: concept 62. If a sentence starts with an indefinite pronoun such as "it" or "there," chances are the sentence can be shortened. Register to View AnswerDIFFICULTY: difficult; PAGE: 159; TYPE: concept 63. Using a spell checker guarantees that your documents will be free of spelling errors. Register to View AnswerDIFFICULTY: moderate; PAGE: 162; TYPE: 64. concept Today's powerful grammar checkers can easily determine whether your document states your message correctly and communicates it clearly. Register to View AnswerDIFFICULTY: moderate; PAGE: 163; TYPE: concept 65. Because the first thing that readers will notice about your message is its appearance, you should pay special attention to design and page layout. Register to View AnswerDIFFICULTY: moderate; PAGE: 164; TYPE: concept 66. To make your message more interesting and accessible, you should use as many design elements and decorative touches as possible. Register to View AnswerDIFFICULTY: moderate; PAGE: 166; TYPE: concept 67. One advantage of justified type is that it makes a message look more personalized and less like a form letter. Register to View AnswerDIFFICULTY: moderate; PAGE: 166; TYPE: concept 68. Using many different fonts in the same document will make it more appealing to your audience. Register to View AnswerDIFFICULTY: moderate; PAGE: 167; TYPE: concept 69. The best way to draw attention to important points or terms is to underline them or type them in all capital letters. Register to View AnswerDIFFICULTY: moderate; PAGE: 167-68; TYPE: concept 70. Proofreading is rarely necessary since today's professionals use wordprocessing software to prepare documents. Register to View AnswerDIFFICULTY: easy; PAGE: 170; TYPE: concept Fill-in-the-Blank 71. Using a ____________________ ____________________ will give you a rough idea of how educated your audience must be to read and comprehend your message. ANSWER: readability formula; DIFFICULTY: difficult; PAGE: 153; TYPE: concept 72. An effective alternative to using conventional sentences is to set off important ideas in a(an) ____________________ --a series of words, names, or other items. ANSWER: list; DIFFICULTY: moderate; PAGE: 155; TYPE: concept 73. ____________________ headings identify a topic but do little more; ____________________ headings guide readers to think in certain ways about a topic. ANSWER: Descriptive, informative; DIFFICULTY: moderate; PAGE: 156; TYPE: concept 74. A ____________________ sentence uses words such as may and seems to avoid stating a judgment or fact. ANSWER: hedging; DIFFICULTY: moderate; PAGE: 157; TYPE: concept 75. With ____________________ construction, two or more similar ideas are expressed with the same grammatical pattern. ANSWER: parallel; DIFFICULTY: difficult; PAGE: 157; TYPE: concept 76. A modifier is said to be ____________________ when it has no real connection to the subject of the sentence. ANSWER: dangling; DIFFICULTY: moderate; PAGE: 157; TYPE: concept 77. ____________________ verbs are those that have been changed into nouns or adjectives. ANSWER: Camouflaged; DIFFICULTY: difficult; PAGE: 159; TYPE: concept 78. Word combinations that are needlessly repetitive are called ____________________. ANSWER: redundancies; DIFFICULTY: moderate; PAGE: 159; TYPE: concept 79. A(An) ____________________ compares your document with an electronic dictionary, highlights unrecognized words, and suggests correct spelling. ANSWER: spell checker; DIFFICULTY: moderate; PAGE: 162; TYPE: concept 80. An electronic ____________________ gives you alternative words and helps you find synonyms. ANSWER: thesaurus; DIFFICULTY: moderate; PAGE: 162; TYPE: concept 81. ____________________ markup language (HTML) is used to insert hyperlinks, images, and other elements into your messages. ANSWER: Hypertext; DIFFICULTY: difficult; PAGE: 164; TYPE: concept 82. ____________________ ____________________ provides visual contrast for your readers and gives them a resting point. ANSWER: White space; DIFFICULTY: moderate; PAGE: 166; TYPE: concept 83. ____________________ typefaces have small crosslines at the ends of each letter stroke. ANSWER: Serif; DIFFICULTY: moderate; PAGE: 167; TYPE: concept 84. You can use ____________________ ____________________ software such as Quark XPress or Adobe InDesign to produce professional-looking formats and layouts for your documents. ANSWER: desktop publishing; DIFFICULTY: moderate; PAGE: 168; TYPE: concept 85. One of the final stages in producing a document is ____________________ it to make sure that it contains no errors in grammar, usage, and punctuation. ANSWER: proofreading; DIFFICULTY: moderate; PAGE: 170; TYPE: concept Short Answer 86. Briefly explain what the opening of a document should accomplish. ANSWER: The opening of a shorter document should be relevant, interesting, and geared to the reader's probable reaction. For longer messages, the first few paragraphs should establish the subject, purpose, and organization of the material. DIFFICULTY: difficult; PAGE: 151; TYPE: concept 87. Conclusions should accomplish what two tasks? ANSWER: Conclusions should (1) summarize the main idea and (2) leave the audience with a positive impression. DIFFICULTY: difficult; PAGE: 151; TYPE: concept 88. Briefly describe at least three advantages of using lists in business documents. ANSWER: Lists can show the sequence of your ideas, heighten their impact visually, and help readers find your key points. They also provide readers with clues, simplify complex subjects, highlight the main point, break up the page visually, ease the skimming process, and give readers a breather. DIFFICULTY: moderate; PAGE: 155; TYPE: concept 89. Rewrite the following sentence to remove the dangling modifier: "Lying next to the filing cabinet, the office manager found the financial report." ANSWER: The office manager found the financial report next to the filing cabinet. DIFFICULTY: moderate; PAGE: 157; TYPE: application 90. Rewrite the following sentence to improve clarity and avoid the long noun sequence: "The financial estimates and accounting consulting firm will be closed next week." ANSWER: The consulting firm that provides financial estimates and accounting services will be closed next week. DIFFICULTY: moderate; PAGE: 157; TYPE: application 91. Rewrite the following sentence to avoid camouflaged verbs: "The customer will ultimately make a determination about whether or not a purchase will occur." ANSWER: The customer will ultimately determine whether or not to make a purchase. DIFFICULTY: moderate; PAGE: 159; TYPE: application 92. Rewrite the following sentence to eliminate the unnecessary phrases: "In view of the fact that the customer service department is closed, we do not have the capability of offering refunds until such a time as they reopen." ANSWER: We cannot offer refunds until the customer service department opens. DIFFICULTY: moderate; PAGE: 159; TYPE: application 93. Rewrite the following sentence to eliminate redundancies: "The engineers collaborated together in order to produce the uniquely original final outcomes of their research." ANSWER: The engineers collaborated to produce their original research outcomes. DIFFICULTY: moderate; PAGE: 159; TYPE: application 94. Rewrite the following sentence to be more concise by using short, simple words: "Effective immediately, all employees need to terminate their excessive utilization of the office duplication machine for personal affairs and activities." ANSWER: The office copier is not for personal use. DIFFICULTY: moderate; PAGE: 159; TYPE: application 95. List four characteristics of effective document design. ANSWER: Effectively designed business documents exhibit (1) consistency, (2) balance, (3) restraint, and (4) attention to detail. DIFFICULTY: difficult; PAGE: 166; TYPE: concept Essay 96. What three functions do effective headings serve in business documents? Explain each one. ANSWER: Headings contribute to the document's organization by showing the reader at a glance how the document is organized. They act as labels to group related paragraphs and organize material into short sections. Headings also control the reader's attention, making the text easier to read and helping the audience find the parts they need to read--or skip. Finally, headings help readers make connections between subordinate ideas and main ones. DIFFICULTY: difficult; PAGE: 156; TYPE: concept 97. Explain at least three of the steps involved in editing documents for clarity. ANSWER: Editing for clarity involves breaking up overly long sentences and rewriting sentences that contain hedging (words like may and seems). It also requires imposing parallelism, or using the same grammatical pattern to express two or more similar ideas. Correcting dangling modifiers is another necessary step, along with rewording long noun sequences. Improving the clarity of a document also involves eliminating camouflaged verbs, clarifying sentence structure and awkward sentences, and moderating your enthusiasm. DIFFICULTY: difficult; PAGE: 157-59; TYPE: concept 98. Explain why editing for conciseness is important, then list the four steps it involves. ANSWER: Editing business documents for conciseness is important because many drafts are twice as long as they need to be. Eliminating unnecessary material helps you get your point across more efficiently. Improving the conciseness of a message involves removing unnecessary words and phrases, shortening long words and phrases, and eliminating redundancies. It also requires shortening sentences that begin with indefinite pronouns such as it and there. DIFFICULTY: difficult; PAGE: 159; TYPE: concept 99. Describe at least three types of software that can help you revise and polish a document. ANSWER: Software tools such as revision marks and commenting keep track of proposed editing changes electronically and provide a history of a document's revisions. A spell checker compares your document with an electronic dictionary, highlights unrecognized words, and suggests correct spellings. A computer thesaurus gives you alternative words much more quickly than a printed thesaurus does. A grammar checker provides limited help with issues such as noun-verb agreement problems and items you should consider changing (such as passive voice, long sentences, or words that tend to be misused or overused). Finally, a style checker monitors your word choice and sentence structure and suggests alternatives that might produce more effective meaning. DIFFICULTY: difficult; PAGE: 161-62; TYPE: concept 100. Explain the importance and process of proofreading. Why does it matter and what should you look for? ANSWER: Proofreading is important because it is your last chance to make sure that your document is ready to carry your message--and your reputation--to the intended audience. When proofreading, you should check the document for errors from the writing, design, and layout stages, and mistakes that crept in during production. More specifically, you should be on the lookout for writing errors (such as typographical mistakes and misspelled words), missing elements (text sections and visual aids), and design and formatting errors (such as incorrect font selections and page numbers). DIFFICULTY: difficult; PAGE: 170; TYPE: concept

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German Unification, 1862-1871 1. Factors that make it hard to unify 1. Geographic 1. Large set of sovereign states in central Europe 2. Easily dominated by the major European powers 3. Has no permanent boundaries/barriers 1. No mountain ranges or oce
Colorado - HIST - 1020
Nationalism 1. Nationalism 1. Unification of people with the same language, ethnicity, and/or heritage 1. I taly Comprised of many units that do not work together 2. Germany Broken up into many k ingdoms, principalities, and cities 3. Colonialism 1
Colorado - HIST - 1020
The French Revolution I) A political collapse in France II) Causes A) Aristocratic Revolution 1788 1) They want a way to curb the power of the monarch a system of checks 2) Louis cannot tax the nobility or the clergy on their land they own 45% of
Colorado - HIST - 1020
Ancien Regime Old Regime (1660-1789) A) Political 1) Absolutism France, Austria, Russia, Prussia (a) Characterized as a struggle between nobility and the monarch (b) France (i) 1660 Louis XIV comes of age to rule (ii) Louis declares he will be the
Colorado - HIST - 1020
Industrialization of Britain I) Economic Revolutions A) Commercial Revolution: increase in trade and commerce both domestically and internationally B) Slave trade 1) British goods shipped down to west Africa 2) Slaves taken and shipped to the America
Colorado - CHEM - 1021
Chapter 8Chemical BondingQuestions for consideration1. How can we classify the types of bonding of different compounds? 2. What is the nature of bonding in ionic compounds?3. What is the nature of bonding in molecular compounds?4. How can we
Colorado - CHEM - 1021
Chapter 7Electron Structure of the AtomQuestions for consideration1. What is light and how can we describe it? 2. How can we describe the behavior of the electron in a hydrogen atom?3. How can we describe electrons in all atoms?4. How does th
Colorado - CHEM - 1021
Chapter 6Quantities in Chemical ReactionsQuestions for consideration1. What do coefficients in balanced equations represent? 2. How can we use a balanced equation to relate the number of moles of reactants and products in a chemical reaction? 3.
Colorado - CHEM - 1021
Chapter 5Chemical Reactions and EquationsQuestions for consideration1. What happens in a chemical reaction? 2. How do when know whether a chemical reaction takes place? 3. How do we represent a chemical reaction with a chemical equation?4. How
Colorado - CHEM - 1021
Chapter 4Chemical CompositionQuestions for consideration1. How can we count the number of atoms in a sample of a material? The number of molecules? The number of formula units? 2. How can we know the number of molecules in a sample of a material
Colorado - CHEM - 1021
Chapter 3Chemical CompoundsQuestions for consideration1. How do ionic compounds differ from molecular compounds? 2. What kinds of ions are in ionic compounds? 3. What do formulas of ionic compounds represent? 4. How are ionic compounds named? 5.
Colorado - CHEM - 1021
Colorado - CHEM - 1021
Chapter 2Atoms, Ions, and the Periodic TableQuestions for consideration1. What evidence suggests that matter is composed of atoms? 2. How does the composition of different atoms differ? 3. How do ions differ from the atoms of an element? 4. How
Colorado - CHEM - 1021
Chapter 1Matter and EnergyQuestions for consideration1. What characteristics distinguish different types of matter? 2. What are some properties of matter? 3. What is energy and how does it differ from matter? 4. What approaches do scientists use
UC Riverside - ECONOMICS - 102A
UNIVERSITY OF CALIFORNIA, RIVERSIDE DEPARTMENT OF ECONOMICS ECON 102A: MICROECONOMIC THEORY MWF 2:10 3:00 PM, BRNHL B118 SPRING 2009 Instructor: Victoria Umanskaya Office: Sproul Hall 3128 Office hours: MF 11:00 AM - 12:00 PM or by appointment Email
UC Riverside - ECON - 102A
Supply-and-Demand Model: The Market Mechanism Reading: Chapter 21DemandQuantity demanded is the amount of a good that consumers are willing and able to buy at a given price (holding constant other factors that affect demand)Refers to the poin
UC Riverside - ECON - 102A
Supply-and-Demand Model: ElasticityReading: Chapter 21Elasticities of Supply and DemandNot only are we concerned with what direction price and quantity will move when the market changes, but we are concerned about how much they change Elasticit
UC Riverside - ECON - 102
Consumer Behavior: Consumer PreferencesReading: Chapter 3I have forced myself to contradict myself in order to avoid conforming to my own taste. - Marcel Duchamp, Dada artistTheory of Consumer Choice Three steps involved in the study of consumer
UC Riverside - ECON - 102a
Consumer Behavior: Budget ConstraintReading: Chapter 3You can't have everything. Where would you put it?- Steven WrightBudget ConstraintsThe Budget Line (or budget constraint)Shows all combinations of goods that can be bought at given prices a
UC Riverside - ECON - 102a
Consumer Behavior: Consumer ChoiceReading: Chapter 3My problem lies in reconciling my gross habits with my net income.- Errol FlynnConsumer Choice Given preferences and budget constraints, how do consumers choose what to buy?"Utility Maximizat
UC Riverside - ECON - 102a
Applying Consumer Theory: Individual DemandReading: Chapter 41Individual Demand: Price ChangesFor each price change, we can determine how much of the good consumer would purchase given her budget constraint and preferences We can trace out
UC Riverside - ECON - 102a
Applying Consumer Theory: Income and Substitution Effects and Market DemandReading: Chapter 41As price of one good changes (all else the same), there are two effects:Substitution Effect Consumers will tend to buy more of the good Incom
UC Riverside - ECON - 102q
Applying Consumer Theory: Network ExternalititesReading: Chapter 41Network ExternalitiesUp to this point we have assumed that people's demands for a good are independent of one another For some goods, one person's demand also depends on
UC Riverside - ECON - 102a
Production: Production Technology Short-Run ProductionReading: Chapter 61Production Decisions of a Firm1. Production Technology: describes how factors of production can be transformed into outputs 1. Cost Constraints: firms must consider prices