BCOR 1015 MIDTERM 1 EXAM STUDY GUIDE WITH COMPLETE SOLUTIONS
7 views 0 purchase
Course
BCOR
Institution
BCOR
BCOR 1015 MIDTERM 1 EXAM STUDY
GUIDE WITH COMPLETE SOLUTIONS
the main economic questions (rational economic problem) - Answer️️ -1.
What product am I making
2. who is going to make it
3. who gets the product
scarcity is either... - Answer️️ -real or articficial
hayek - Answer️️ -...
market economy - Answer✔️✔️-use price - Economic decisions are made by
individuals or the open market.
Central Planned Economy - Answer✔️✔️-decided by state - The central
government makes ALL the decisions on production
cox view on production - Answer✔️✔️-switch from production of profit to
production of use
would Hayek agree with cox - Answer✔️✔️-NO
UBI - Answer✔️✔️-universal basic income
conservatives would support this because it would streamline gov't
programs
rent control - Answer✔️✔️-the idea of price controls interferes with the
market and price signals
fairness - Answer✔️✔️-you get what you give
agreeing what is thought to be right
no discrimination
equality - Answer✔️✔️-everyone gets the same
state of being equal
equity - Answer✔️✔️-- giving people more than others in order to achieve
equal
- justice in the way people are treated
2
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller SophiaBennett. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.
