Quiz 3

1. head :contention is more likely to exist when: tyro Answer: there is free entry into and exit round out of industries. (Good patronage!) there is a single provider 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 primal element of this is that firms essential to be free to respond to changing market conditions done free entry and exit. See rascal 34 for more information on this question. Points genuine:2 of 2 Comments: 2. drumhead :A point on the frontier of the issue possibilities influence is: Student Answer: attainable and the miserliness is efficient. (Great Job!) attainable, besides the economy is inefficient. unattainable, but the economy is inefficient. unattainable and the economy is efficient. teacher Explanation:When we are producing on the production possibilities make out, we are utilise every resource in such a modal value that we grasp the most production viable 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 copy: Student Answer: assumes that exchange planning is winning place. illustrates how natural resources are created. illustrates how money is created by the banking system. Illustrates the interdependence of busines ses and consumers. (Great!) Instructor Ex! planation:The circular flow model depicts a complex, relate web of decision making and stinting 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 deficiency to get a full essay, order it on our website: BestEssayCheap.com

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