Econ exam - Study guides, Class notes & Summaries

econ exam 2(Exam Question 2024)

ECON EXAM 1 QUESTIONS & ANSWERS 2023-24 There is great concern over the fact that global warming is causing permanent damage to the global environment. A study of the costs and benefits of purchasing carbon offsets to combat global warming is an example of A) labor economics. B) normative economics. C) positive economics. D) laissez-faire economics. - ANSWER-C positive economics - ANSWER-Positive economics is a stream of economics that focuses on the description, quantification and...

ECON 302 Intermediate Microeconomic Theory II Midterm Exam Summer solution exam tips Concordia University

ECON exam 1 questions & answers 2023-24 What is economics? - ANSWER-the study of how people use their scarce resources to satisfy their unlimited wants Define land, labor, capital, and entrepreneurial ability. Name the payment for each of these resources. - ANSWER-Labor: Physical and mental effort used to produce goods and services. Payment is in wages to resource owners for their labor. Land: all the gifts of nature used to produce goods and services. Renewable and exhaustible. Payme...

ECON 104 PN EXIT EXAM BEST EXAM SOLUTION 100% PROVEN ANSWERS LATEST UPDATE GRADED A+

Micro Econ Exam 1 (ATP Questions) With Complete Solutions Latest Update

econ exam questions & answers 2023-24 which statement best explains why countries must make tradeoffs - ANSWER-National production is limited by the availability of scarce natural resources What is the primary incentive for business owners in a market economy - ANSWER-Earning profits Suppose a new federal budget raises health care spending by 15 million what is the opportunity cost of that change - ANSWER-The alternative uses of the additional money spent Zoe is deciding which of t...

1. Which of the following will not increase the demand for burritos? a. A big burritos sale. b. The discovery that eating burritos cures cancer. c. A rise in the price of burgers, a substitute. d. A fall in the price of guacamole, a complement. e. All of the above will increase the demand for burritos. a. A big burritos sale. 2. Which of the following will not decrease the supply of burritos. a. the discovery that eating burritos causes cancer. b. a rise in the price of the tortill...

CBSPD Decontamination - Certification Exam Review | Questions and Answers Graded A+ CBSPD Decontamination - Certification Exam Review | Questions and Answers Graded A+

ECON Exam Correctly Answered. Which factors influence changes in consumer demand? Check all that apply. - CORRECT ANSWER elasticity clearance sales income Gross domestic product (GDP) is the value of goods and services produced in a country annually. It can best be described as measuring an economy's - CORRECT ANSWER total output. Which of these practices describe how producers in oligopolies generally try to create competition? Check all that apply. - CORRECT ANSWER by keeping...