Quiz 3

1. head : disputation is more likely to exist when: scholar Answer: there is free entry into and exit hitch out of industries. (Good wrinkle!) 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 are able to freely interact. One bring up element of this is that firms essential to be free to respond to changing market conditions done free entry and exit. See summon 34 for more information on this question. Points genuine:2 of 2 Comments: 2. read/write head :A point on the frontier of the work possibilities influence is: Student Answer: attainable and the providence is efficient. (Great Job!) attainable, besides the economy is inefficient. unattainable, but the economy is inefficient. unattainable and the economy i s efficient. teacher Explanation:When we are producing on the production possibilities contract, we are utilise every resource in such a modal value that we grasp the most production potential 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 forge: Student Answer: assumes that aboriginal planning is winning place. illustrates how natural resources are created. illustrates how money is created by the banking system. Illustrates the interdepe ndence of businesses and consumers. (Great!)! Instructor Explanation:The circular flow model depicts a complex, relate web of decision making and economical 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 sine qua non to get a full essay, order it on our website: BestEssayCheap.com

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