Given a normal market supply curve for daisies, if the price of daisies increased from $1.00 per dozen to $2.00 per dozen, then there is a/an
A production possibilities curve that is concave or bowed out from the origin represents
Number produced per day:
Parasail Boat Fishing Boat
Jonas Islands 3 12
Jackson Islands 5 10
According to the table above, the Jonas Islands opportunity cost of producing one fishing boat is
Macroeconomics is best defined as the study of
Which statement about scarcity is NOT true?
The impact of banks going out of business and auto makers closing factories in 2008 and 2009 would be illustrated when
Pianos are an example of a scarce object.
Given a normal demand curve for SNICKERS candy, if the price of peanuts increases, what happens?
Which of these nations below is an example of a COMMAND ECONOMY?
Which of these IS a factor of production?
Consumer Goods are used in _________________________________________________.
Say Six Flags opens a new roller coaster. What happens to the quantity demanded for season-long tickets?
Comparative Advantage is based off who has the lowest ____________________________.
Which of the following are factors that can shift the demand curve for basketballs?
1. a tax on basketball producers.
2. buyers’ income
3. the number of basketball manufacturers
4. buyers’ tastes and preferences
5. price of substitutes for basketballs
The Law of Demand says that there is a/an ______________________ relationship between price and quantity demanded.