Question

9 question's one a time = 10 medals given to the best of the best


1. Which of the following best explains the purpose of a supply schedule?

A. calculate how much time it takes for distribution

B. demonstrate how the supply decreases as price increases

C. show the relationship between quantity supplied and prices

D. indicate how supply and demand relate to price

Answer 1

C

Answer 2

b

Answer 3

sorry i mean c

Answer 4

2. The equilibrium price is located at which of the following points?

A. the intersection of supply and demand curves
B. the supply curve’s lowest point
C. the demand curve’s peak
D. where the production possibilities frontier is furthest to the right

Answer 5

c

Answer 6

The correct answer is C my friend :3

Answer 7

C! you win dreamer ;D

Answer 8

C

Answer 9

thanks C:

Answer 10

BY THE WAY you all get 20 medals if you have answered


3. Which of the following describes a situation in which the price of a good would fall?

A. A new technology allows producers to increase supply very quickly.
B. Consumers start using more of a good because there are fewer substitutes.
C. Scarce natural resources make it more difficult for producers to keep up with demand.
D. Producers cannot make enough of a good when that good becomes popular suddenly.

Answer 11

B

Answer 12

A

Answer 13

A .new technology allows producers to increase
supply very quickly.
When supply increases relative to
demand, prices fall.

Answer 14

4. Which of the following is a characteristic of the factors of production?
A. scarcity
B. elasticity
C. non-excludability
D. shortage

5. Opportunity cost is calculated by which of the following?

A. finding the value of the best option that is not chosen
B. calculating the cost of time, energy, and sacrifice
C. subtracting all costs from the total benefit
D. adding the value of all lost opportunities

Answer 15

I'm lost.....Sorry! Thanks though! I had fun with this! Congrats Curious Dreamer!

Answer 16

1.a.scaricity
Land, labor, and capital are scarce,
which is why allocation decisions need to be made

2.a.

Opportunity cost is what you give up
by not taking the choice that is second best.

Answer 17

and for 5.

Answer 18

thanks c:

Answer 19

6. Purchasing which of the following would lead to decreasing marginal utility?

A. normal goods as substitutes for inferior goods
B. luxury items that you cannot afford
C. food in bulk to save money in the long run
D. a new car when you already have two cars

7. Which type of good do people buy less of as their income rises?

A. inferior
B. substitute
C. normal
D. fungible

Answer 20

um do you know this one

Answer 21

hold on

Answer 22

i dont know this one sorry ):

Answer 23

whats the last question

Answer 24

there two more so here they are

Which of the following is the best example of substitution?

A. People walk out before the end of a movie because the acting and the plot are terrible.
B. Movie producers begin making more comedies because they cost less to make than action films.
C. More people begin going to matinee movies instead of night movies to save money on the tickets.
D. People at the movie theater switch from popcorn to candy because popcorn has gotten too expensive.


Which of the following is a trait shared by all public goods?

A. rivalry among consumers
B. elastic demand
C. free-rider problem
D. ability to exclude people

Answer 25

Any idae and are you sure these are right cus i can't fail

Answer 26

1.d.

Substitution occurs when people
switch from one good to another, usually
because the price has changed.

2.c

Public goods are non-excludable, so
there is always the possibility of free riders.

and yes im sure c:

Answer 27

if you wanna know how i find them then go here http://ftpmirror.your.org/pub/wikimedia/images/wikipedia/commons/e/e7/3.1.5_ECONOMICs.pdf

Answer 28

ok thank you you had recive how many medals from me so i n=know how many more to send to you

Answer 29

1 medal so far

Answer 30

but you dont have to send me more c:

Answer 31

if you want more let me know any time ok

Answer 32

ok