Econ 103 final exam - Study guides, Class notes & Summaries
Looking for the best study guides, study notes and summaries about Econ 103 final exam? On this page you'll find 25 study documents about Econ 103 final exam.
All 25 results
Sort by
-
ECON 103 Final Exam 2023-2024 Questions and Answers (Graded A)
- Exam (elaborations) • 18 pages • 2023
- Available in package deal
-
- $11.49
- + learn more
ECON 103 Final Exam Questions and Answers (Graded A) 
 
ECON 103 Final Exam Questions and Answers (Graded A) 
 
ECON 103 Final Exam Questions and Answers (Graded A) 
The overriding reason why households and societies face many decision is that - ANSWER-resources are scarce 
 
Melody decides to spend three hours working overtime rather than going to the park with her friends. She earns $20 per hour for overtime work. Her opportunity cost of working is - ANSWER-the enjoyment she would have rece...
-
Econ 103 Final Exam Study Guide with Complete Solutions
- Exam (elaborations) • 6 pages • 2023
- Available in package deal
-
- $11.49
- + learn more
Econ 103 Final Exam Study Guide with Complete Solutions 
 
Econ 103 Final Exam Study Guide with Complete Solutions 
 
Econ 103 Final Exam Study Guide with Complete Solutions 
 
 
Economics - ANSWER-the social science which seeks to understand how humans make decisions in the face of scarcity given unlimited wants 
 
Scarcity - ANSWER-human wants for goods, services and resources exceed what is available 
 
Factors of Production - ANSWER-land, labor, capital 
 
Gross Domestic Product (GDP) - ANSW...
-
ECON 103 Final Exam 2023-2024 Questions & Answers (rated A)
- Exam (elaborations) • 18 pages • 2023
- Available in package deal
-
- $12.49
- + learn more
ECON 103 Final Exam Qu 
The overriding reason why households and societies face many decision is that - ANSWER-resources are scarce 
 
Melody decides to spend three hours working overtime rather than going to the park with her friends. She earns $20 per hour for overtime work. Her opportunity cost of working is - ANSWER-the enjoyment she would have received had she gone to the park 
 
If a tax is levied on the buyers of a product, then the demand curve will - ANSWER-shift down 
 
Which of the f...
-
ECON 103 Final EXAM BUNDLE(COMPLETE PACKAGE) 2023-2024 Questions and Answers 100% accurate!
- Package deal • 14 items • 2024
-
- $28.49
- + learn more
ECON 103 Final EXAM BUNDLE(COMPLETE PACKAGE) 2023-2024 Questions and Answers 100% accurate!ECON 103 Final EXAM BUNDLE(COMPLETE PACKAGE) 2023-2024 Questions and Answers 100% accurate!ECON 103 Final EXAM BUNDLE(COMPLETE PACKAGE) 2023-2024 Questions and Answers 100% accurate!ECON 103 FiECON 103 Final Exam 2023-2024 Questions and Answers 100% accurate!
-
ECON 103 FINAL EXAM QUESTIONS AND ANSWERS 100% ACCURATE
- Exam (elaborations) • 4 pages • 2023
- Available in package deal
-
- $10.99
- + learn more
ECON 103 FINAL EXAM QUESTIONS AND ANSWERS 100% ACCURATE 
 
 
ECON 103 FINAL EXAM QUESTIONS AND ANSWERS 100% ACCURATE 
 
 
ECON 103 FINAL EXAM QUESTIONS AND ANSWERS 100% ACCURATE 
 
 
ECON 103 FINAL EXAM QUESTIONS AND ANSWERS 100% ACCURATELimited goods and services - ANSWER-Scarcity 
 
This type of economics deals with judgments about what the economy should be like. - ANSWER-Normative Economics 
 
"To obtain more of one thing, we have to forgo the next best option" - ANSWER-Opportunity Cost 
 ...
Make study stress less painful
-
ECON 103 Final Exam 2023-2024 Questions and Answers 100% Correct
- Exam (elaborations) • 4 pages • 2023
-
- $11.49
- + learn more
ECON 103 Final Exam Questions and Answers 100% CorrectECON 103 Final Exam Questions and Answers 100% CorrectECON 103 Final Exam Questions and Answers 100% Correct 
 
economic systems differ according to which two main characteristics - ANSWER-who owns the factors of production and the methods used to coordinate economic activity 
 
private property: - ANSWER-encourages owners to maintain or improve their property so as to preserve or enhance value 
 
the regulatory mechanism of the market sys...
-
ECON 103 Final Exam 2023-2024 Questions & Answers (rated A+)
- Exam (elaborations) • 18 pages • 2024
- Available in package deal
-
- $10.99
- + learn more
Melody decides to spend three hours working overtime rather than going to the park with her friends. She earns $20 per hour for overtime work. Her opportunity cost of working is - ANSWER-the enjoyment she would have received had she gone to the park 
 
If a tax is levied on the buyers of a product, then the demand curve will - ANSWER-shift down 
 
Which of the following is not an example of a graph of a single variable 
a) a pie chart 
b) bar graph 
c) time-series graph 
d) a scatterplot - ANSW...
-
ECON 103 Final Exam Study Guide- Questions with Correct Answers
- Exam (elaborations) • 9 pages • 2024
- Available in package deal
-
- $9.99
- + learn more
Assumptions of Economics: Scarcity (1/4) limited nature of society's resources 
Assumptions of Economics: Methodological Individualism (2/4) - only individuals act - choices are made based on an individuals needs 
Assumptions of Economics: Rational Choice (3/4) humans first allocate scarce goods to their highest needs 
Assumptions of Economics: Unlimited Wants (4/4) - GREEDY, GREEDY, GREEDY - infinite number of things to do and get in a lifetime 
Positive vs. Normative Questions: Positive - dea...
-
Econ 103 Final Exam Study Guide with Complete Solutions!!
- Exam (elaborations) • 6 pages • 2023
- Available in package deal
-
- $10.99
- + learn more
Econ 103 Final Exam Study Guide with Complete Solutions!! 
 
 
Economics - ANSWER-the social science which seeks to understand how humans make decisions in the face of scarcity given unlimited wants 
 
Scarcity - ANSWER-human wants for goods, services and resources exceed what is available 
 
Factors of Production - ANSWER-land, labor, capital 
 
Gross Domestic Product (GDP) - ANSWER-the total dollar amount of all final goods and services produced in a country in one year 
 
Microeconomics - ANS...
-
ECON 103 FINAL EXAM QUESTIONS AND ANSWERS 100% correct!
- Exam (elaborations) • 4 pages • 2023
- Available in package deal
-
- $9.99
- + learn more
ECON 103 FINAL EXAM QUESTIONS AND A 
Limited goods and services - ANSWER-Scarcity 
 
This type of economics deals with judgments about what the economy should be like. - ANSWER-Normative Economics 
 
"To obtain more of one thing, we have to forgo the next best option" - ANSWER-Opportunity Cost 
 
This type of economics deals with facts and cause-and-effects - ANSWER-Positive Economics 
 
Characteristics of a market economy - ANSWER-- Self-interest 
- Capitalism 
- Private Property 
 
Competiti...
Study stress? For sellers on Stuvia, these are actually golden times. KA-CHING! Earn from your study resources too and start uploading now. Discover all about earning on Stuvia