Can someone check these and tell me if I'm right or wrong, and if I'm wrong please explain. 1. The hope of reward that encourages a person to behave in a certain way is a(n) incentive.
2. A bridge is an example of something that is usually provided as a externality.
3. To show how demand for a good will change at specific price points, economists use a ____.
4. People will buy more of a good when its price falls and less when its price rises, according to the Law of Demand.
5. The rate the Federal Reserve charges banks for loaning them money is the discount rate.

Question

Can someone check these and tell me if I'm right or wrong, and if I'm wrong please explain. 1. The hope of reward that encourages a person to behave in a certain way is a(n) incentive.    
2. A bridge is an example of something that is usually provided as a externality.
3. To show how demand for a good will change at specific price points, economists use a ____.
4. People will buy more of a good when its price falls and less when its price rises, according to the Law of Demand.  
5. The rate the Federal Reserve charges banks for loaning them money is the discount rate.

anonymous · Answer

3 and 4 are correct. 5 The Fed charges banks for loaning them money with interest rate...

anonymous · Answer

at the 1 question is an utility.

anonymous · Answer

at the 3 use a graph...

anonymous · Answer

1. Is correct
2. should be public good. (an externality is a cost on society, but a government makes a bridge available to everyone, and therefore is a public good)
3. could also be demand curve 
4. is correct
5. I think should be interest rate, not discount rate, because when someone loans someone money, they have to pay back in interest

anonymous · Answer

Thank you both :)