Chapter_11_quiz

D is the resource market, C is the goods market, and B are the firms

D is the goods market, C is the resource market, and B are the firms

D is the resource market, C are the firms, and B is the goods market

D are the firms, C is the resource market, and B is the goods market.

Pick and Pay Hillcrest is a plant, Pick and Pay is a firm, Pick and Pay and Boxer are part of an industry

Pick and Pay Hillcrest is a firm, Pick and Pay is a plant, Pick and Pay and Boxer are part of an industry

Pick and Pay Hillcrest is a plant, Pick and Pay is an industry, Pick and Pay and Boxer are plants

Public goods are less expensive than private goods

Private goods have two properties: rivalry and non-excludability

Public goods have two properties: rivalry and non-excludability

Firms cannot find effective ways to exclude others from consuming public goods

Corporation X wants high marks from you, and you also want high marks

Corporation X wants high marks from you, but you just want to pass

Corporation X wants you to pass, but you want high marks

Corporation X wants you to pass, and also want to pass

2 Computers

2 Bicycles

5 Computers

5 Bicycles

1/2 Bicycle

1/2 Computers

1 Bicycles

1 Computers

Decrease in the factors of production

Improvement in technology

Full employment of resources

Increase in entrepreneurship activity

Produce one more computer

Produce one more bicycle

Keeps computer production fixed

Keep bicycle production fixed

When production of industrial robots increases, society sacrifice more and more pizzas

When production of industrial robots increases, price of pizzas increases

When production of industrial robots increases, opportunity cost of pizzas increases

A business shuts down because of Covid

A gym goer benefits from other vaccinated gym goers

A firm dumps its waste products illegally

There is a shortage of schools in a neighborhood.