Assignment #1

Assignment #1 - Name Grace Park Student ID 860819859 Winter...

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Name Grace Park Student ID 860819859 Winter 08: Econ 003: Microeconomics Assignment # 1 1. Economics is the study of A. methods of becoming rich quickly B. manipulation techniques for making gains in the stock market C. allocation of scarce resources among alternative uses D. decisions that are made by the politicians in running the economy E. all of the above. 2. Economic problems that every society must solve are related to A. what goods and services to be produced B. how to produce these goods and services C. who will receive these goods and services D. all of the above. 3. In a market economy, economic decisions are made by A. consumers B. producers C. entrepreneurs D. investors E. all of the above. 4. Economic decisions are made A. arbitrarily B. always on “all or nothing” basis C. mostly at the margin: a bit more of this and a bit less of that D. by the central planning board in a market economy E. none of the above. 5.
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Assignment #1 - Name Grace Park Student ID 860819859 Winter...

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