# In the circular flow model of the market system

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In the circular flow model of the market system, households Multiple Choice buy products and resources. sell products and resources.
Use the following market data to answer the question below. Price per Unit Quantity Purchased by Consumer Quantity Sold by Producer \$5 2,000 0 10 1,800 300 15 1,600 600 20 1,400 900 25 1,200 1,200 30 1,000 1,500 In the market shown in the table, the equilibrium quantity
is Multiple Choice 1,600. 900. 1,200. 1,400. Microeconomics is concerned with Multiple Choice
the aggregate or total levels of income, employment, and output. how government debt affects aggregate economic activity. the establishing of an overall view of the operation of the aggregate economic system. a detailed examination of specific economic units that make up the economic system. Marcus budgets \$120 a week for groceries. When the price of all food goes up by 10% he buys less salmon. This can best be explained by:
Which of the following scenarios is an example of a person interacting outside of a market?
Isabella agrees to fix Miguel’s sink if Miguel paints Isabella’s porch. The table below represents the demand for bottles of sunscreen at Daytona Beach on a sunny June day. Demand for Sunscreen Price (dollars) Quantity of Sunscreen Demanded (bottles) \$4 7,200 6 6,800 8 6,400 10 6,000 12 5,600
If the price of a bottle of sunscreen is \$8, what will be the quantity demanded? 1,600 bottles 6,400 bottles 6,000 bottles 8,000 bottles Markets can: make buyers and sellers better off. force buyers to buy things they do not want to buy.
force producers to make things they do not want to make. provide unlimited goods and services. If product Y is an inferior good, a decrease in consumer incomes will Multiple Choice make buyers want to buy less of product Y. shift the demand curve for product Y to the right. shift the demand curve for product Y to the left. not affect the sales of product Y.
An increase in the demand for music downloads indicates that more music downloads are