haleyhayes8349181

In order for a price-discrimination scheme to be effective at boosting profit, the seller must...

A- Have market power

B- Prevent resale

C- Restrict Resale

D- Be a monopolist

E- Be selling a necessity

1. Solve the equation 3x + 7 = 22.

Part I: Basic Economic Principles—-Matching

1. Scarcity

2. Opportunity Cost

3. Resources

4. Socioeconomic Goals

5. Business Cycle

A. Government objectives linking economic activity and social needs.

B. Condition that exists because there are not enough resources to satisfy human wants.

C. Item or mean required to do something else.

D. Refers to the pattern of rising and declining production which characterizes our economy.

E. The value of what is given up when making an economic decision.

2. Which of these is a characteristic of a market economy?

A. Limited business rights

B. Competition between businesses

C. Government control and ownership of property.

D. Nationwide pricing rules for goods and services.

Think about Starbucks. Which change do you think is most important?

◯ Putting coffee in hotel rooms

◯ Opening new stores in airports

◯ Adding new services to stores

Explain why you voted the way you did.

What is demand in market?

Which of the following is a result of a market economy ?

A. agreement on equity

B. environmental protection

C. an equal income distribution

D. voluntary exchange

How many bones are in our body?

1:  206

2:  390

3:  208

Consumer surplus is...
A)the amount a buyer is willing to pay for a good minus the amount the buyer actually pays for it.
B)the amount a buyer is willing to pay for a good minus the cost of producing the good.
C)the amount by which the quantity supplied of a good exceeds the quantity demanded of the good.
D)a buyer's willingness to pay for a good plus the price of the good.

If Hamburger Helper is an inferior good, then a decrease in income would lead to a(n) _____________ in demand.

The principle of opportunity cost evolves from the concept of

(Market Equilibrium).

Aggregate market supply and demand for good X are the following:

Q_d (P)=1040-15P

Q_s (P)=25P           

a. (6 points) Calculate the equilibrium price and quantity

economics is the study of ______ and its ____

competition; legal conseqiences

choice; unintended consequences

greed; underirable consequences

money; financial consequences

Economics is probably best defined as the study of unintended consequences.

a. True.

b. False.