Economics tes1 - why 8 How does an accountant’s view...

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Economics test # 1 lectures (1-13) 1. What is Economics? 2. What are the two ways to approach the subject matter of Economics called? 3. What important roles do households play in the Economic field? Explain. 4. What are the two forms of business? 5. In your own words, define the word proprietorships . 6. What are the 3 functions of prices? 7. why is Equilibrium important and can it also be a bad thing? If yes
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Unformatted text preview: why? 8. How does an accountant’s view towards the cost of an activity differ from an economist? 9. What are the 3 types of insurance plans? Explain their uses. 10. What is interest rate, and what is it used for? 11. What are stock markets? Name the two types. 12. How does GDP work? 13. What does it mean when the official unemployment rate may be overstate or understate?...
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This note was uploaded on 03/21/2012 for the course ECO ECO2023 taught by Professor Hermbaine during the Winter '09 term at Broward College.

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