1. What determines whether or not a resource is scarce? Why is the concept of scarcity important
to the definition of economics?
2. In the coordinate system of graphs, there are two main relationships between two variables.
With the use of numerical examp
Chapter 1 Review on Discussion Board
Clink on Chapter 1 Review and create a thread with your answers to the following
Define all the concepts below:
1. Scarcity and why it exists
2. Resources. List and define them
4. Choice and T
IChapter 18The Environment
Positive externalities exist any time the social costs of producing a
good or service exceed the private costs.
If a good that features a negative externality is produced in an
Topics 3, 4 & 5 Workshop Questions
The Components of Aggregate Expenditure
Aggregate Expenditure and Aggregate Demand
1. Suppose that the consumption function is a curved line that becomes flatter as income
increases. What happens to the