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5 Written questions

5 Matching questions

  1. Robert L Johnson
  2. total cost
  3. demand curve
  4. free rider
  5. technology
  1. a the process used to produce a good or service
  2. b fixed costs plus variable costs
  3. c someone who would not choose to pay for a certain good or service, but who would get the benefits of it anyway if it were provided as a public good
  4. d Founder of BET- A media Company
  5. e a graphic representation of a demand schedule

5 Multiple choice questions

  1. Two goods that are bought and used together
  2. the force that encourages people and organizations to improve their material well-being
  3. Describes demand that is very sensitive to a change in price
  4. the rivalry among sellers to attract customers while lowering costs
  5. Starbucks expander

5 True/False questions

  1. supply curvea graphic representation of a demand schedule


  2. variablea factor that can change


  3. interest groupa private organization that tries to persuade public officials the act or vote according to group members' interests


  4. market failurea factor that can change


  5. externalitythe process used to produce a good or service


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