Quiz 3

1. head : contest is more likely to exist when: student Answer: there is free entry into and exit disco biscuit out of industries. (Good craft!) there is a single supplier of either goods and services. the government purchases most goods and services. products ar produced by a a couple of(prenominal) large firms. instructor Explanation:Competition requires that many buyers and sellers ar able to freely interact. One chance on element of this is that firms essential to be free to respond to ever-changing market conditions done free entry and exit. See scalawag 34 for more information on this question. Points genuine:2 of 2 Comments: 2. dubiousness :A point on the frontier of the proceeds possibilities influence is: Student Answer: attainable and the prudence is efficient. (Great Job!) attainable, besides the economy is inefficient. unattainable, but the economy is inefficient. unattainable and the eco nomy is efficient. teacher Explanation:When we are producing on the production possibilities wrench, we are utilise every resource in such a modal value that we grasp the most production executable out of it. In this case, the production level represented by these points is attainable and the economy is efficient. Points Received:0 of 2 Comments: 3.

Question :The circular liquify gravel: Student Answer: assumes that commutation planning is winning place. illustrates how natural resources are created. illustrates how money is created by the banking system. Illustrates the interdepend ence of businesses and consumers. (Great!) ! Instructor Explanation:The circular flow model depicts a complex, relate web of decision making and economic activity involving businesses and households p. 44. Points Received:2 of 2 Comments: 4.Question :The production possibilities curve represents which of the following? Student Answer: the amount of goods attainable with variable...If you indirect request to get a full essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper