100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Test Bank Microeconomics 12th Edition by David Colander £24.07   Add to cart

Exam (elaborations)

Test Bank Microeconomics 12th Edition by David Colander

 30 views  0 purchase
  • Module
  • Microeconomics
  • Institution
  • Microeconomics

Test Bank Exam Bank for Microeconomics, 12th Edition 12e by David Colander. ISBN-10: 1 ISBN-13: 7690. Full Chapters are included with Instant Download - Single click PDF - Chapter 1 to 23 (Complete Micro Chapters) PART I: INTRODUCTION: THINKING LIKE AN ECONOMIST Chapter 1: Economics and Econ...

[Show more]

Preview 1 out of 1308  pages

  • July 11, 2023
  • 1308
  • 2022/2023
  • Exam (elaborations)
  • Questions & answers
  • Microeconomics
  • Microeconomics
avatar-seller
Chapter 01 12e Micro
1) The answers to an economy's three central economic problems are determined by the
interaction of three forces: economic forces, political forces, and social forces.
⊚ true
⊚ false



2) Scarcity exists because economies cannot produce enough to meet the perceived desires of
all individuals.
⊚ true
⊚ false



3) Only marginal costs, not sunk costs, affect economic decisions if individuals are rational.
⊚ true
⊚ false



4) The economic decision rule is to undertake an action only when the marginal benefits of that
action are greater than its total costs.
⊚ true
⊚ false



5) The opportunity cost of undertaking an activity includes any sunk cost.
⊚ true
⊚ false



6) The "invisible hand" is the price mechanism that guides people’s actions in the market.
⊚ true
⊚ false



7) Social and political forces affect the way in which the invisible hand works.
⊚ true
⊚ false




1

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller StepsSol. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for £24.07. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

79223 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now

Start selling

Recently viewed by you


£24.07
  • (0)
  Add to cart