I will assign an article for this section. You should read the article (it is short)
before proceeding. This article can be linked to material in ch
Ch 4. The Aggregate Economy
Microeconomics vs. Macroeconomics: Microeconomics Studies the economy at the
level of individual consumers, firms, and markets & Macroeconomics Studies the
economy at the aggregate level economic growth of a country, total emp
Ch. 1 Wealth of Nations
Economic freedom: ability to trade without the interference or restriction by govnt
Measure of living standard; incentive to innovate and causes an increase in living
Private ownership: Owning things and ability to do
List the factors of production and the return that
households get from each.
Explain how McDonalds move into gourmet coffee
concerns the self-interest and the social interest.
Question 3. The night before an exam you c
1. What is the difference between a change in Demand and a change in quantity demanded?
2. List six reasons why the Demand curve might shift to the right.
3. Is the relationship between price and quantity supplied positive or negative?
EC 101-A Quiz 4
1. The primary objective of a firm in monopolistic competition is to
a. maximize revenue
b. minimize costs
c. maximize profit
d. minimize output
2. A market with many producers, many consumers, no product differentiation and low
1. The _ effect and the _
effect give the Demand curve a negative slope.
2. When the market price is above the equilibrium price, there is a _.
3. If the quantity demanded is greater than the quantity supplied there is
1. What is the implicit rental rate?
2. Which is greater, economic profit or accounting profit?
3. Calculate the HHI for the following industry that has only five firms.
4. You have the four technolo
My Family Tree as told to Leonard E. Read
I am a lead pencilthe ordinary wooden pencil familiar to all boys and girls and adults who can
read and write. Writing is both my vocation and my avocation; that's all I do. You may wonder
why I should w
Practice Questions ECN 101 Mathematics
1. Supply and Demand charts form curves
2. Intersecting supply and demand charts are used in economics
3. The intersection is called the regressed mean of price
4. An economic system with excess supply wi
THE FINAL TELLS YOU TO WRITE A 3-5 PAGE RESPONSE TO THE FOLLOWING ARTICLE!
THE PROFESSOR DOESNT KNOW IM UPLOADING THE ARTICLE! STUDY IT BEFORE HAND AND
PREPARE YOUR THOUGHTS!
POLICING IN CENTRAL AND EASTERN EUROPE: Comparing Firsthand Knowledge with Exper