Microeconomics

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Resources are used only in the production of goods, not services. a. True b. ... Started by Lobcity	3 Replies 52 Views	Jul 1, 2018 by hramirez205
Which of the following is a service? a. anything that is scarce and that satisfies unlimited human ... Started by anjilletteb	1 Replies 19 Views	Jul 1, 2018 by amynguyen1221
A good or service is considered scarce if a. any quantity of it can be consumed at a zero price b. ... Started by skymedlock	1 Replies 41 Views	Jul 1, 2018 by meryzewe
Goods and services are exchanged in a. product markets b. resource markets c. inventory markets ... Started by mspears3	1 Replies 93 Views	Jul 1, 2018 by karmakat49
Which of the four types of decision makers in the U.S. economy plays the largest role? a. U.S. ... Started by burton19126	1 Replies 51 Views	Jul 1, 2018 by patma1981
Choices made by economic decision makers a. are government decisions only b. are the primary focus ... Started by jwb375	1 Replies 57 Views	Jul 1, 2018 by wergv
The labor market is an example of a a. government market b. classified market c. communication ... Started by cookcarl	1 Replies 39 Views	Jul 1, 2018 by recede
The assumption of rational self-interest does not rule out the possibility of concern for other ... Started by londonang	1 Replies 15 Views	Jul 1, 2018 by jjorrostieta
Rational choice by an individual implies a. the use of some mathematical model when solving a ... Started by Mr. Wonderful	3 Replies 29 Views	Jul 1, 2018 by Smiles0805
It is always rational to acquire more information before making a decision. a. True b. ... Started by armygirl	1 Replies 61 Views	Jul 1, 2018 by kalskdjl1212
Economists generally believe that a. buyers and sellers have all the information they can use b. ... Started by MGLQZ	1 Replies 11 Views	Jul 1, 2018 by aidanmbrowne
Economic information a. is usually scarce and costly to acquire b. is usually available free to ... Started by MirandaLo	1 Replies 27 Views	Jul 1, 2018 by Alyson.hiatt@yahoo.com
A marginal adjustment only refers to a minor change. a. True b. ... Started by storky111	1 Replies 11 Views	Jul 1, 2018 by amandanbreshears
Most real economic choices involve small (or marginal) changes, rather than all-or-nothing ... Started by penza	1 Replies 20 Views	Jul 1, 2018 by tennis14576
When economic choice involves an adjustment to an existing situation, marginal analysis a. has no ... Started by jayhills49	1 Replies 25 Views	Jul 1, 2018 by chinwesucks
When economists say that people act as rational decision makers, that means a. they gather all ... Started by asd123	1 Replies 30 Views	Jul 1, 2018 by LP
To say that people make marginal decisions means that a. they usually wait until the last minute ... Started by asmith134	3 Replies 30 Views	Jul 1, 2018 by ngr69
You currently subscribe to two magazines and are trying to decide whether you should subscribe to a ... Started by go.lag	1 Replies 35 Views	Jul 1, 2018 by nickk12214
Microeconomics is the study of a. marginal or inferior products b. the economic behavior of ... Started by tsand2	1 Replies 16 Views	Jul 1, 2018 by alexanderhamilton
The economic behavior of individual decision makers and the determination of price and output in ... Started by yoroshambo	1 Replies 23 Views	Jul 1, 2018 by stanleka1
An economic model will produce poor predictions if it includes unrealistic assumptions. a. True b. ... Started by go.lag	1 Replies 109 Views	Jul 1, 2018 by shaquita
Theory in economics a. involves some simplification of reality b. bears no relation to reality c. ... Started by Cooldude101	1 Replies 81 Views	Jul 1, 2018 by chreslie
An economic model a. always has a mathematical foundation b. can never be proven wrong c. can be ... Started by SGallaher96	1 Replies 53 Views	Jul 1, 2018 by Tabitha_2016
Economic theories are a. useful because they are as exact as theories in the physical sciences b. ... Started by nenivikky	1 Replies 63 Views	Jul 1, 2018 by makaylafy
The basic purpose of economic models is to a. construct simplifying assumptions about the real ... Started by ashley	3 Replies 67 Views	Jul 1, 2018 by AISCAMPING