Opportunity cost answe - Study guides, Class notes & Summaries

Name Clas Dat : s: e: CHAPTER 01—THE BUSINESS OF BANKING 1. A bank is a not-for-profit organization. a. b. True False False 1 BNKG.CFFT.3.LO: 1.1.1 - LO: 1.1.1 ANSWER: POINTS: LEARNING OBJECTIVES: 2. All federally chartered banks must be corporations. a. True ANSWER: POINTS: LEARNING OBJECTIVES: b. False True 1 BNKG.CFFT.3.LO: 1.1.1 - LO: 1.1.1 3. Commercial banks offer their services only to businesses. ANSWER: POINTS: LEARNING OBJECTIVES: 5. Issuing credit cards is ...

what does it mean that an economy is producing efficientlythere is no way to produce more of one good without producing less of the other what does comparative advantage reflectrelative opportunity cost When the price of a pizza falls relative to the price of spaghetti people buy more pizza instead of spaghetti. In this example people are responding to.incentives Production possibility frontiers can shift outwardIf there is an increase in technology How is the slope of a line calculatedc...

Microeconomics 201 Final Exam Review Questions + Answers 2024 1. Demand shift factors - Correct Answer-Income, population, price of substitutes/complements, expectations, tastes 2. Supply shift factors - Correct Answer-Technological innovations, taxes/subsidies, expectations, entry/exit of producers, changes in opportunity cost 3. Law of demand - Correct Answer-The lower the price, the greater the quantity demanded 4. Do changes in price shift the demand? Yes or no? - Correct Answer-No ...

macro final - James Leggette study guide exam verified 100%macro final - James Leggette study guide exam verified 100% comparative advantage - correct answers-the ability to produce a good at the lowest opportunity cost positive statement - correct answers-statement which describes the world as it is circular flow model - correct answers-model which shows how goods and money move through the economy substitute good - correct answers-goods which can take the place of each other surplus -...

Economics - ANSWER the study of how humans make decisions in the face of scarcity 3 basic economic questions - ANSWER What to produce? How to produce? For whom to produce? opportunity cost - ANSWER measures cost by what is given up in exchange; opportunity cost measures the value of the forgone alternative How do economists assume individuals make choices? - ANSWER whatever will serve their own self-interest margin - ANSWER the current level of an activity choice at the margin - A...

What are the six main things you should do in professional writing? - correct answer 1) know why you're writing 2) Understand your readers 3)Before writing, jot down your 3 main points 4)Write in full-rapidly 5) Improve what you've written 6) Use graphics to illustrate and clarify What are the characteristics that lead to organizational action? - correct answer Attracting Attention, Conveying Importance, Sign...

What is opportunity cost? The opportunity of giving up the second-best choice when making a decision What is an absolute advantage? The benefit a country has in a given industry when it can produce more of a product than other nations using the same amount of resources What is a comparative advantage? The benefit a country has in a given industry if it can make products at a lower opportunity cost than other countries What is balance of trade? A basic measure of the difference in value betwee...

What is the change in total cost equal to in the marginal cost equation? - Answer- Marginal cost multiplied by change in quantity. Fixed costs equal: - Answer- Total costs minus variable costs Economic profit is distinct from accounting profit because - Answer- Economic profit incorporates both explicit and implicit costs. Total costs include: - Answer- Variable costs plus fixed costs Marginal costs consider - Answer- The increase in total cost arising from an extra unit of productio...

CISM Domain 2 Test Questions With Answers All Correct Which of the following should a successful information security management program use to determine the amount of resources devoted to mitigating exposures?(*) - CORRECT ANSWER- risk analysis result In a Business Impact Analysis (BIA), the value of information system should be based on the overall: - CORRECT ANSWER- opportunity cost Risk acceptance is a component of which of the following? - CORRECT ANSWER- risk mitigation Which...