Econ 101 - Study guides, Class notes & Summaries

Economics - Answer The study of scarcity and choice. Individual Choice - Answer Decisions by individuals about what to do, which necessarily involve decisions about what not to do. Economy - Answer A system for coordinating a society's productive and consumptive activities. Resource - Answer Anything that can be used to produce something else. Land - Answer Refers to all resources that come from nature, such as minerals, timber, and petroleum. Labor - Answer The eff...

In a competitive market, excess demand for a good exists whenever...? a. resources are scarce b. the current price is below the equilibrium price c. the current price is above the equilibrium price d. sellers are subject to the constraints imposed by input prices and technology e. the quantity supplied at the current price exceeds the quantity demanded - Answer b. the current price is below the equilibrium price Which of the following is an example of a stock variable? a. The amount o...

ECON 101 Week 7 Quiz Winter 2024 Already passed;AMU Week 7 Quiz (Chapter 11) - Results Attempt 1 of 1 Written Apr 26, 2024 9:53 AM - Apr 26, 2024 10:13 AM Attempt Score 100 / 100 - 100 % Overall Grade (Highest Attempt) 100 / 100 - 100 % Question 1 10 / 10 points Monopolistic competition is an industry characterized by a: small number of firms producing identical products, with barriers to entry for firms. small number of firms producing similar products, with rel...

1. Jacquelyn is a student at a major state university. Which of the following is NOT an explicit cost of her attending college? A) tuition B) textbooks C) the salary that she could have earned working full-time D) computer lab fees - Answer C) the salary that she could have earned working full-time 2. Which of the following statements about opportunity cost is FALSE? A) Opportunity cost may be larger than monetary cost. B) Opportunity cost includes both explicit and implicit costs. C...

ECON 101 Week 3 Quiz Winter 2024 Already passed;AMU Question 1 10 / 10 points Demand is price inelastic if: the price of the good responds slightly to a quantity change. the demand curve shifts very little when a demand shifter changes. the percentage change in quantity demanded is relatively small in response to a relatively large percentage change in price. all of the above are true. Question 2 10 / 10 points If the absolute value of price elasticity is greater than 1, thi...

Econ 101 csulb midtermA good - correct answer anything that gives a person utility or satisfaction either tangible or intangible A bad - correct answer gives person disutility or dissatisfaction 4 Resources - correct answer 1. Land 2. Labor 3. Capital 4. Entrepreneurship land - correct answer all natural resources used to produce goods and services Labor - correct answer consists of the physical and mental talents that people contribute to the production process Capital - corr...

ECON 101 FINAL EXAM LATEST QUESTIONS AND ANSWERS (VERIFIED REVISED FULL EXAM)

2011 Basic Life Support for Healthcare Providers Written Test Introduction The 2011 Basic Life Support for Healthcare Provider Course includes both skills tests and written tests. The written test measures the mastery of cognitive skills. The 2011 written test must be used with the 2011course materials, ie, student manuals, course videos, and instructor manuals. Administering the written tests This closed-book test must be completed individually by each student. To receive a course comp...

Econ 101 Midterm Correct Answers Latest Update

ECON 101 MIDTERM EXAM 2024/2025 VERIFIED QUESTIONS AND ANSWERS GRADED A+(SOLVED)