Demanders - Study guides, Class notes & Summaries

ECON-100 Exam Study Set [100% Correct Answers] What is economics? *Ans* A study of how people make choices to achieve goals with resource constraints. What is meant by "the invisible hand?" *Ans* The "invisible hand" means that the division of labor and exchange occur naturally among people without being directed by anyone. What is the root of exchange behavior? *Ans* Human natural tendency toward division of labor to gain efficiency. Division of labor and exchange are human te...

Because of scarcity, every economic decision involves Answer> a trade-off. Ryan spends an hour studying instead of going for a bike ride. Assume studying and bike riding were Ryan's only options for that hour. The opportunity cost to him of studying is: Answer> the enjoyment and exercise he would have received from bike riding. The gains from trade are: Answer> a result of more efficient resource allocation. Which of the following would not tend to lower the price of VCRs? A...

T/F - Sole Proprietorship is the most common form of business ownershipT T/F - A Sole Proprietor may have to sell personal assets to pay off company debtsT T/F - Sole Proprietorship has unlimited liabilityT When you the words Capital Market in a MCQ question should you think Long Term or Short Term?Long Term T/F - Does this describe a Capital Market - A financial relationship created by institutions and arrangements that allows suppliers and demanders of long-term funds to make transac...

Refer to Figure 4-24. All else equal, an increase in the productivity of turkey farmers would cause a move from a. DA to DB. b. DB to DA. c. x to y. d. y to x. a. DA to DB Refer to Figure 4-24. All else equal, a sale on chicken would cause a move from a. DA to DB. b. DB to DA. c. x to y. d. y to x. c. greater than or equal to 7 Refer to Table 4-13. Suppose Harry, Darby, and Jake are the only demanders of sandwiches and that the market demand violates the law of demand. Then, in the...

Real Estate Market Economics THE MARKET SYSTEM Supply and demand - correct answer supply: goods or services available for sale, lease, or trade demand: goods or services desired for purchase, lease, or trade Price and value - correct answer price mechanism: quantified value of an exchange value components: desire; utility; scarcity; purchasing power Productivity and costs - correct answer cost plus profit equals minimum price; production cost possible component of value Market inter...

Labor Land Capital Entrepreneurial skills correct answers Sources of wealth Salary correct answers Labor through hard work will allow them to earn? Rent correct answers Land will generate wealth in the form of? Interest correct answers As the venture is realizing good returns the capital will earn? Profit correct answers Managing the commercial affairs and ensuring that their company continuously grow and generate more? Finance correct answers Is the application of economic pri...

HSA 366 Temple Exam 1 *Structurally and operationally, the healthcare market works very much like a freely competitive economic market - False Only the legislative branch of government makes health policy. - False Healthcare disparities are best described as - differences in variables such as access, insurance, coverage, and quality of services received. Primary responsibility for implementation of public laws rests with which government branch? - Executive Public policies can ...

1. Question: Policy competence involves of the following abilities EXCEPT: 2. Question: What's the projected mandatory Medicare and health expenditures for 2018? 3. Question: The 1996 Personal Responsibility and Work Opportunity Reconciliation Act (P.L. 104-193) is also known as: 4. Question: Which of the following involves vindicating (or rejecting) the legal or constitutional rights of parties who come to court, alleging a violation of their rights? 5. Question: Name one of the traditio...

Because of scarcity, every economic decision involves - a trade-off. Ryan spends an hour studying instead of going for a bike ride. Assume studying and bike riding were Ryan's only options for that hour. The opportunity cost to him of studying is: - the enjoyment and exercise he would have received from bike riding. The gains from trade are: - a result of more efficient resource allocation. Which of the following would not tend to lower the price of VCRs? - increasing price of pay-per-...

1. Question: Policy competence involves of the following abilities EXCEPT: 2. Question: What's the projected mandatory Medicare and health expenditures for 2018? 3. Question: The 1996 Personal Responsibility and Work Opportunity Reconciliation Act (P.L. 104-193) is also known as: 4. Question: Which of the following involves vindicating (or rejecting) the legal or constitutional rights of parties who come to court, alleging a violation of their rights? 5. Question: Name one of the traditio...