Basics of Economics Review

Which of the following is a result of the fact that there are limited resources in the world?

Which Principle best applies? - deciding on if you should buy 6 or 7 pairs of new shoes at the store

What concept argues that letting competition and self-interest exist in the economy will have benefits for all.

Which Principle is the Dulles Town Center Mall an example of?

Which Principle? - A science major pays a History professor to tutor them after forgetting when the War of 1812 happened

Which type of economic analysis is based on how things really are?

Who is the "Father of Modern Economics?"

Which Principle best applies? - Moe's advertises that "Kids Eat Free!" on Tuesdays

Which type of economic analysis is based on how things should (ought to) be?

Which Principle best applies? - My time is limited so should I go to the party or study for the test?

Which type of economics is based on studying decisions by individuals, houses, and businesses?

Which type of economics is based on studying the whole economy?

The concept of "no-free-lunches" exists because of which economic principle?

Which Principle best applies? - John cannot get a job with the Government because he had a DUI at age 22.

Economics is the study of how people choose to use their ...

What book did Adam Smith write?