Econ Final Quiz

Sin taxes, taxes to change behavior, are an __________

the demand for hamburgers will increase when

at a price of $3 there will be a ___________

Which of the following is a Capital Resource?

demand is said to be__ when the quantity demanded does not change much when price changes a lot

If you move outside a PPC you would ___________ production

willing and able to purchase a good or service at varying prices refers to __________

This economy lets supply and demand determine prices

This economy is based on ritual, habit, and a barter system

When I choose between two options, knowing I can't do both, which economic principle is this?

If oranges and apples are substitutes, and the price of apples goes up, demand for oranges will

When I move from one point to another on a PPC I illustrate ________

The quantity of hamburgers sold will decline if

when real incomes decrease people will demand more _____ goods

Prices in a market economy determine_________

Products that are typically can be bought in place of one another are 

if peanut butter and jelly are compliments and the price of PB increases the demand for J will

What are the three basic questions of economics?

Products that are typically bought together are called

Pollution is?

What are the four factors of production?

when real incomes increase people will demand more ______ goods

This economy has central planners controlling an economy

Which of the following can grow the production of an economy

When I drop my price from $20 to $10  

What is a consequence of Minimum Wage

at the price of $9 there is a __________

As a result of the decrease of a competitors prices, my store will see the demand 

If you moved inside a PPC you would ___________ production.

What is the equilibrium price?