World wide econ - Study guides, Class notes & Summaries

ECON 1580 GRADED QUIZ AND FINAL EXAMS ANSWERS AVAILABE Question 1 Correct Mark 1.00 out of 1.00 Flag question Question text According to the textbook, economics is a: Select one: a. social science. b. study of business decisions, not social decisions. c. part of operations and management science. d. part of humanities. Feedback The correct answer is: social science. Question 2 Correct Mark 1.00 out of 1.00 Flag question Question text A/an does not pose the problem of scarci...

Final Exams ECON 1580 Introduction to Economics Question 1 If the price of chocolate-covered peanuts increases and the demand for strawberry licorice twists increases, this indicates that these two goods are: a. unrelated goods. b. superior goods. c. inferior goods. d. substitute goods. Question 2 A decrease in the demand facing a monopoly firm would _______ quantity and _______ price. The demand is inelastic. a. increase; increase b. increase; decrease c. decrease; increase d. de...

Final Exams ECON 1580 Introduction to Economics Question 1 If the price of chocolate-covered peanuts increases and the demand for strawberry licorice twists increases, this indicates that these two goods are: a. unrelated goods. b. superior goods. c. inferior goods. d. substitute goods. Question 2 A decrease in the demand facing a monopoly firm would _______ quantity and _______ price. The demand is inelastic. a. increase; increase b. increase; decrease c. decrease; increase d. decrease; decreas...

Final Exams ECON 1580 Introduction to Economics Question 1 If the price of chocolate-covered peanuts increases and the demand for strawberry licorice twists increases, this indicates that these two goods are: a. unrelated goods. b. superior goods. c. inferior goods. d. substitute goods. Question 2 A decrease in the demand facing a monopoly firm would _______ quantity and _______ price. The demand is inelastic. a. increase; increase b. increase; decrease c. decrease; increase d. decrease; decreas...

Great Depression -ANSWER A severe, world wide economic crisis which lasted from the end of 1929 to the outbreak of World War II. installment plan -ANSWER A payment plan that allows customers to make payments at set intervals over a period of time until the total debt is paid credit -ANSWER An arrangement to receive cash, goods, or services now and pay for them in the future. investors -ANSWER Groups of individuals who invest their money in various types of companies in search of making ...

Great Depression -ANSWER A severe, world wide economic crisis which lasted from the end of 1929 to the outbreak of World War II. installment plan -ANSWER A payment plan that allows customers to make payments at set intervals over a period of time until the total debt is paid credit -ANSWER An arrangement to receive cash, goods, or services now and pay for them in the future. investors -ANSWER Groups of individuals who invest their money in various types of companies in search of making ...

Great Depression -ANSWER A severe, world wide economic crisis which lasted from the end of 1929 to the outbreak of World War II. installment plan -ANSWER A payment plan that allows customers to make payments at set intervals over a period of time until the total debt is paid credit -ANSWER An arrangement to receive cash, goods, or services now and pay for them in the future. investors -ANSWER Groups of individuals who invest their money in various types of companies in search of making ...