Section 3 Review for regular Economics

You will study this QUIZ MULTIPLE TIMES

When the market is in equilibrium

Businesses take out more loans when

Forcing people to buy health care

Books like The Jungle( the meat packing book) did what to the once free market of the USA

Renting

When supply exceeds demand then you have

Specifically rewards hard work

This is a supply graph it starts low and goes up with price

Importing Goods lowers prices and increases variety of goods

Which retirement plan does your employer possibly pay into?

Technology Increases productivity

Free enterprise fits best with

Natural disasters that destroy factories

Outsourcing

Is a non price determinant of supply

Who has to pay the most in Insurance

This is a Demand Graph It starts High and goes down with lowering prices

Scarcity leads to

If you have bad credit

When is a graph in Equilibrium?

The education of the work force is categorized as

Point E represents

Demand

Adam Smiths theories include

Which changes DEMAND

I want a good credit score so

When people buy less of an item because it gets more expensive this is the income effect

There are lots of Communist dictators left.

Increasing wealth causes a rightward shift in the Demand curve

Which of these will hurt your credit score the most

Point D represents

With the open markets of the free enterprise system there comes

If equalibrium price is 30 and the market price is 20 what will the market have?

How to build credit

In order to fill our the FAFSA you must

Opportunity cost is

Supply

Which is NOT a factor of Production

What is an effect of factories?