Economics Exam Review

Which of the following is NOT one of our three economic systems?

The Law of Supply states that the quantity supplied increases as price increases

Which of the following means to provide a framework with which to approach questioning?

The Great Depression started is characterized by which time period?

People who are prohibited from practicing medicine without a license are effected by what force

How many firms make up the market in a monopoly? 

Globalization ...

Optimal output is represented at which point?

The more a good is a necessity the more ___________ a good is.

In a socialist economy who controls the economy? 

A lack of a supply of goods and services is defined as which of the following?

Dead weight loss is represented by which design?

In the past 50+ years, which country had the highest per capita growth rate?

If marginal revenue is greater than marginal cost one should do less

Which of the following is the type of business that raises funds through stocks and bonds?

market economy is to a democracy as socialist economy is to