Crowdly

Додати до Chrome

Університети
elearn.nou.edu.ng
Principles of Economics I (ECO121_261)

Principles of Economics I (ECO121_261)

Шукаєте відповіді та рішення тестів для Principles of Economics I (ECO121_261)? Перегляньте нашу велику колекцію перевірених відповідей для Principles of Economics I (ECO121_261) в elearn.nou.edu.ng.

Отримайте миттєвий доступ до точних відповідей та детальних пояснень для питань вашого курсу. Наша платформа, створена спільнотою, допомагає студентам досягати успіху!

What are two causes of market failure?

externalities and market power

externalities and foreign competition

market power and incorrect forecasts of consumer demand

incorrect forecasts of consumer demand and foreign competition

Переглянути це питання

When evaluating differences or similarities between an increase in supply and an increase in quantity supplied, what do we know?

The former is a movement along the curve and the latter is a shift of the curve.

The former is a shift of the curve and the latter is a movement along the curve.

Both move along the curve.

shifts of the supply curves.

Переглянути це питання

Which chain of events occurs in the correct order?

demand increases, price increases, quantity supplied increases

price increases, demand increases, quantity supplied increases

demand increases, quantity supplied increases, price increases.

quantity supplied increases, price increases, demand increases

Переглянути це питання

If suppliers expect the price of their product to fall in the future, what will they do?

nothing, since there is nothing they can do to affect the price in the future

increase supply now

decrease supply now

increase supply in the future

Переглянути це питання

If a decrease in income increases the demand for a good, what is the good called?

an inferior good

a complementary good

a substitute good

Переглянути це питання

What does the term market failure refer to?

a situation in which competition among firms becomes ruthless

a firm that is forced out of business because of losses

an unsuccessful advertising campaign that reduces buyer demand

a situation in which the market on its own fails to allocate resources efficiently

Переглянути це питання

What does making decisions "at the margin" mean?

that people make those decisions that do not impose a marginal cost

that people compare the marginal costs and marginal benefits of each decision

that people evaluate how easily a decision can be reversed if problems arise

that people always calculate the marginal dollar costs for each decision

Переглянути це питання

Which is the most correct statement about the invisible hand?

The invisible hand is more effective at ensuring equity than it is at ensuring efficiency.

The invisible hand is more effective at ensuring efficiency than it is at ensuring equity.

The invisible hand always ensures both equity and efficiency.

The invisible hand cannot ensure either equity or efficiency.

Переглянути це питання

What is the opportunity cost of an item?

usually less than the Naira value of the item

the number of hours needed to earn money to buy it

usually more than Naira value of the item

what you give up to get that item

Переглянути це питання

When government policies such as the welfare system try to help the neediest members of society, what happens?

It reduces charitable contributions in an economy.

It causes market failure to occur.

It increases the productivity of the needy in the society.

It increases equity and reduces efficiency

Переглянути це питання

1
2
3
Наступна

Хочете миттєвий доступ до всіх перевірених відповідей на elearn.nou.edu.ng?

Отримайте необмежений доступ до відповідей на екзаменаційні питання - встановіть розширення Crowdly зараз!

Додати до Chrome

Telegram Instagram TikTok Question Bank

Умови використання Зв'яжіться з нами

Додати до Chrome

Додати до Chrome