Econ 1: Supply & Demand

Question 1

Are large retailers are intrinsically more ethical than the entrepreneurs?

Accepted Answer

No

Question 2

What is mostly likely to cause price hikes?

Accepted Answer

Excess demand

Question 3

Which of these sellers would be least likely to price gouge during a disaster?

Accepted Answer

An established brand

Question 4

In the U.S., productivity per worker tends to rise by ___% with each doubling of city size

Accepted Answer

2

Question 5

Why did fish sellers quote higher prices to white buyers at the Fulton fish market?

Accepted Answer

White buyers generally had higher incomes

Question 6

Which of these is not a hidden effect of housing shortages described in the article “The housing theory of everything”?

Accepted Answer

Food shortages

Question 7

What one word answers why prices didn’t rise enough to clear the market during emergencies, as economic models predict?

Accepted Answer

Fairness

Question 8

According to the article “The housing theory of everything,” what is our economy’s most important resource?

Accepted Answer

People

Questions 8