Slope of the line = y-y1/x-x1
Perfect Compet; all goods exactly the same, buyer & sellers so many, no one affects market
price.
Law of demand: claims that quantity demanded of a good falls when prices
Business 100
Introduction to Canadian Business
Group Project
Objective
This group project has been structured to provide students with an opportunity to see how the
concepts covered during classroom d
ECON 100 AB1
Principles of Microeconomics
Week 1.Introduction
Ch 1& 2
September 8th ,10th 2015
Bosu Seo, PhD
Agenda
1. Introduction
Syllabus
Textbook
2. Basic Math and Graphing
3. What is Economics?
Principles of Microeconomics
ECON 100 AB1
2016 Fall
Assignment #1 incomplete (part II will be added on Sep 13th, 2016)
Due Date: September 27, 2016
For credit, you are asked to submit the answer for p
James Bennett 300145414
Econ 100 AB1
Principles of Microeconomics
ECON 100 AB1
2016 Fall
Assignment #1
Due Date: September 27, 2016
For credit, you are asked to submit the answer for part II only. I w
The slope of a line is the ratio of the vertical distance covered to the horizontal distance
covered as we move along the line.
Scarcity refers to the limited nature of societys resources.
Scarcity
-The slope of a line is the ratio of the vertical distance covered to the horizontal distance covered as we move along the line.
-Scarcity means that there is less of a good or resource available than
True/False Questions
Chapter 1 & 2
T
F 1. Scarcity means that there is less of a good or resource available than people wish to have.
ANS: True
T
F 2. If the average cost of transporting a passenger o
Econ 100 AB1
Principles of Microeconomics
Fall 2016
Lab #4
Q1. Leah owns a water pump. Because pumping large amounts of water is harder than pumping
small amounts, the cost of producing a bottle of wa
Principles of Microeconomics
ECON 100 AB1
2016 Fall
Assignment #2
Due Date: November 1, 2016
For credit, you are asked to submit the answer for part II only. I will distribute the answer of part I
on
Econ 100 AB1 Principles of Microeconomics
2016 Fall
Diagnostic Math Exam
1. Solve the following simultaneous equations. What are the values of X, Y?
3X + 2Y = 9
X+Y=4
Step 1. 3x+2y=9
2x+2y=8 , then t
Econ 100 AB1
Principles of Microeconomics
Fall 2016
Lab #4
Q1. Leah owns a water pump. Because pumping large amounts of water is harder than pumping
small amounts, the cost of producing a bottle of wa
Principles of Microeconomics
ECON 100 AB1
Additional questions for Ch6
True/False Questions
Chapter 6
T
F 1. If a price ceiling of $2 per litre is imposed on gasoline, but the market equilibrium price
More practice Chapters 12-15
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_
1. How are net exports of a country determined?
a. the value of goods and
chapter 13
Multiple Choice
Identify the letter of the choice that best completes the statement or answers the question.
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1. Foreign-produced goods and services that are sold domestically ar
101_ch14_practice
Multiple Choice
Identify the choice that best completes the statement or answers the question.
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1. During a recession the economy experiences
a. rising employment and
ch11macroprac
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_
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1. Which of the following concerning the history of inflation is false?
a.
101_ch15_practice
Multiple Choice
Identify the choice that best completes the statement or answers the question.
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1. According to liquidity preference theory, the money supply curve is
chapter 2
Multiple Choice
Identify the choice that best completes the statement or answers the question.
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1. If an economist develops a theory about international trade based on the assumption that t
101ch12prac
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_
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1. International trade
a. raises the standard of living in all trading countr
ch9 practice
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_
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1. The natural rate of unemployment is the
a. unemployment rate that would pre
macroch10prac
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_
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1. Money
a. is more efficient than barter.
b. makes trades easier.
c. all
macroch8prac
Multiple Choice
Identify the choice that best completes the statement or answers the question.
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1. When opening a restaurant you may need to buy ovens, freezers, tables, an
macroch7prac
Multiple Choice
Identify the choice that best completes the statement or answers the question.
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1. Income in developing countries like Pakistan and Bangladesh
a. is 1/10th or
101ch6
Multiple Choice
Identify the letter of the choice that best completes the statement or answers the question.
_
1. The market basket used to calculate the CPI in Aquilonia is 4 loaves of bread,
ch3
Multiple Choice
Identify the letter of the choice that best completes the statement or answers the question.
_
1. Mike and Sandy are two woodworkers who both make tables and chairs. In one month,
101ch5
Multiple Choice
Identify the letter of the choice that best completes the statement or answers the question.
_
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1. Over time people have come to rely more on market-produced goods and less o
Econ 101 AB1
Principles of Macroeconomics
2014 Fall
Lab #1
The demand and supply functions (schedules) for hockey sticks are given by
QD = 286 20P
QS = 88 + 40P
a.
Graph the supply and the demand curv