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5 Written questions

5 Matching questions

  1. work ethic
  2. externality
  3. business cycle
  4. variable
  5. demand curve
  1. a a commitment to the value of work and purposeful activity
  2. b a graphic representation of a demand schedule
  3. c an economic side effect of a good or service that generates benefits or costs to someone other than the person deciding how much to produce or consume
  4. d a period of macroeconomic expansion followed by a period of contraction
  5. e a factor that can change

5 Multiple choice questions

  1. a private organization that tries to persuade public officials the act or vote according to group members' interests
  2. the total amount of money a firm receives by selling goods or services
  3. a cost that does not change, no matter how much of a good is produced
  4. the concept that people may decide what agreements they want to enter into
  5. founder of Latina Magazine in 1996

5 True/False questions

  1. inelasticDescribes demand that is very sensitive to a change in price

          

  2. supply curvea graphic representation of a demand schedule

          

  3. Howard ShultsStarbucks expander

          

  4. elasticDescribes demand that is very sensitive to a change in price

          

  5. complementsthe rivalry among sellers to attract customers while lowering costs