Agec exam 1 - Study guides, Class notes & Summaries

what is dr. kings office # est 240 economics? began as "moral philosophy" to understand what leads to human betterment and to increase it classical economics? built upon a foundation of natural rights -it sought to discover systems which could best what are the 2 blocks of opposing schools of thought? -austrian and classical -keynesian and marxist austrian and classical? -favors more liberalized/free markets -favors minimal role for government in economy ...

AGEC 340 Exam 1 Over the Books Concepts Questions and answers

AGEC 340_ Exam 1 Over the Books Concepts Questions and answers

AGEC 535 exam Question and answers verified to pass What is prospecting? - correct answer the process of identifying potential customers who may want or need the product/service you're selling What is the difference between hunters vs farmers? - correct answer Hunters: focused on getting new customers or business Farmers: focused on maintaining an established territory with a solid, long-term customer base What are the four criteria for qualifying a prospect to see if they would make...

natural resources land and minerals biological resources wildlife, crops, etc human resources services provided by laborers that lead to the production of goods manufactured goods machines, equipment, and structures. the economic benefit should exceed the _____ cost opportunity cost - cost of an activity measured in terms of the best alternative. specialization - focusing the use of our resource on a specific task. - usually leads to a higher out...

AGEC 340_ Exam 1 Over the Books Concepts Questions and answers.

AGEC 422 Exam 1 Questions and Answers

AGEC 324 Final Exam questions and answers well illustrated. An enterprise budget provides an estimate of the potential revenue, expenses and profit for a single enterprise. - correct answers.True In the case study spreadsheets we will use in class, what color background cells can you input/enter data/values? - correct answers.Yellow Inferior goods are goods for which consumption rises when income rises. - correct answers.False Accounting profit includes both out-of-...

AGEC 340 EXAM 1 Questions and answers

AGEC 1113 Final Exam questions and answers 100% verified. Individual Firm Supply Curve - correct MC curve above the minimum AVC The "Law of Supply" states that: - correct price of a good and the quantity supplied have a positive relationship Improvements in production technology - correct the MC curve down and to the right, and shift the supply curve down and to the right the market supply curve is - correct horizontal summation of all individual MC curves above minimum AVC, the ho...