Other Economics Answers

A market demand curve reflects:

1.how much buyers are willing and able to buy at each possible price.

2.how quantity demanded changes when the number of buyers changes.

3.when the buyers are willing to buy the most.

4.the fact that the level of income is inversely related to quantity demanded.

Do teachers have knowledge of basic principles of using methods of teaching Economics?

List and discuss the top three expenditures in state budgets overall and substantiate your selection. (30)

The circular flow model for goods and services is where ________

1. the households sell their factors of production to the factor market where they are purchased by firms

2. firms consume goods and services offered on the goods market

3. firms combine factors of production and produce goods and services 

4. goods and services are offered for sale on the factor market

a. Only 1.

b. Only 1 and 3.

c. Only 1, 3 and 4.

d. Only 4.

Which one of the following equations is true?

a.   M3 = M1 + M2 + M3

b.   M2 = M3 – M1

c. M = C + D

d.   M1 = M3 – M2

Some of the instruments that can be used by government to intervene in the market are ________

a.   government spending, public financing and population growth.

b.   transfer payments, taxation and regulation.

c.   public financing, political shocks and redistribution of income.

d.   redistribution of income, transfer payments and taxation.

Label the four factors of production

Define different entrepreneurs within the entrepreneurial process using relevant examples

Explain the effect of entrepreneurship on the economy using relevant examples

Determine what is involved in the orientation of entrepreneurs using relevant examples