bus201 study guide midterm 1

bus201 study guide midterm 1 - MIDTERM EXAM 1 1 2 3 4 5 6...

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MIDTERM EXAM 1 1 What is the role of economic tools in the analysis of problems. 2 Elasticity (4) How markets work and why elasticity matters? 3 Efficiency (7) How do individuals behave and how do policies impact markets? 4 Costs, Production and Profits (6) Economic and Accounting profit (8) How are costs determined and how does a firm use this information to determine the profit maximizing choice? Bob’s Burgers: Analysis of the Curves 5 From Perfect Competition to How do perfectly competitive firms differ from monopolies? Also, how do monopolies acquire their power? 6 Monopolist Competitive Firms and Oligopolies (11) What are monopolistic competitive firms and how do they behave? Pricing Strategy Assignment This study guide should serve as a guide. However, the sample questions and study points are only representative of the kinds of questions on the exam and some of the points you should know. They are not inclusive and it should not be assumed that other questions or types of questions from each chapter or chapter area will not be asked on the exam. That is, this guide is just a guide to help you study and is not the test! Economic systems: Can you: Calculate opportunity costs Identify comparative versus absolute advantage Know what it means to have comparative advantage Know how to analyze a system with comparative advantage.
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Sample Question Hours to Bake Cake Hours to Clean Bathroom Bob
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This note was uploaded on 11/21/2011 for the course BUS 210 taught by Professor Sevier during the Fall '08 term at Emory.

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bus201 study guide midterm 1 - MIDTERM EXAM 1 1 2 3 4 5 6...

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